Page 176 - Aamir Rehman - Dubai & Co Global Strategies for Doing Business in the Gulf States-McGraw-Hill (2007)

160 Dubai & Co.

We’ve discussed the backgrounds of each Gulf market and how,
despite their similarities, each has its unique dynamics. We’ve also
covered a range of market-entry strategies that span from simple
distribution arrangements to joint ventures and organic market
entry. By now you probably know you want to be in the market and
you have a sense of how you might enter it.
The question now is how will you make your pitch: what
should you do to attract GCC buyers?
There is, of course, no single answer to this question.
Developing your marketing strategy for the region requires you to
understand your target audience, their needs and aspirations, and
how best to address those needs and aspirations in a fashion that
resonates. If you are like many leading global companies, you will
work with the local offices of another global firm—a marketing and
advertising company that has been operating in the region for a
while—to study the environment and hone your messaging. Also,
regional marketing may be the responsibility of your local distribu-
tor or partner and, therefore, not at the top of your priority list.
However, as your Gulf-region business becomes increasingly cen-
tral to your global strategy, it is more important than ever that you
understand the marketing challenges directly. Asolid strategy relies
on solid customer insights and a value proposition—a set of bene-
fits to the customer—that is enduring and differentiated. Your only
option is to build a marketing strategy that is region-specific.
While a region-specific marketing approach is crucial, the
extent to which you customize your proposition for the Gulf is a
complex issue. In many cases, customization helps—in others, it
doesn’t. In general, there are four levels of customization of market-
ing strategies that companies in the region typically employ. We call
these the “Four Degrees of Adaptation,” and they range from no
customization at all to developing market-specific products and
services exclusively for the GCC countries. The right degree for
your business will depend on a host of factors: our research of the
market, however, suggests that all four can be valuable depending
on the circumstances.
If you choose to pursue opportunities in the GCC market, one
challenge will be to find a marketing strategy that fits your busi-
ness. In this chapter, we discuss paths that other multinational firms
have chosen and draw lessons from their experiences.