Total Quality Marketing: The Key to Regaining Market Shares

By Allan C. Reddy | Go to book overview

CHAPTER 1
The Problem: Loss of Market Shares

American managers need to be alert to foreign competition from a different perspective. To protect themselves from further market share losses and to regain lost market shares, American firms need innovative marketing strategies in tune with the changing times of the 1990s. This introductory chapter deals with the unique aspects of the foreign competition problem and sets the stage for the remainder of the book.

In an age of information revolution, having the "information edge" over competition is important. Foreign firms have more information about U.S. businesses and the U.S. business environment than American firms have about foreign businesses and the foreign business environments.

By taking advantage of open markets, foreign competitors keep flooding U.S. markets with low-price high-quality manufactured products, thereby causing big market share losses to many U.S. firms. Large market share losses have been especially conspicuous in automobile, steel, textile, and machine tool industries ( Kotler 1988, p. 33).


LOSS OF MARKET SHARES TO FOREIGN COMPETITORS

Since the early 1960s, foreign competitors from Japan and Southeast Asian countries have been flooding U.S. markets with their low-cost high-quality products, grabbing market shares of the U.S. firms at a fast pace. Between 1980 and 1986, import penetration increased from 26 to 34 percent in durable goods; from 4 to 12 percent in communications; from 3 to 29 percent in computer and office equipment; and from 9 to 21 percent in instruments ( Weber 1988, p. 131).

Worldwide, U.S. industries lost 50 percent of the market share in a wide range of goods in such industries as automobiles, food processors,

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