Lonely Planet Guides Global Explorers - Essay Example

In exploring new markets, the pool of market researchers at Lonely Planet should ascertain whether there is a need to develop new strategies that could apply to a more global sphere. One share the same contention that there is no such thing as global, in terms of seeing customers’ needs and preferences as universal or the same. Accordingly, “while there is such a thing as a global market, there is no such thing as a global customer which wants a global product with global quality. For a particular product, each customer in each country is in a unique situation. The success of a standard product in the home market is not always a guarantee of success in the global market” (Domingo, 2013, p. 1).

However, decision-makers at Lonely Planet should recognize that there are changes in the external environment that needs to be incorporated into their plans for future market entries. For one, there are increasing numbers of competitors who could be offering the same services and products, such as those offered by Lonely Planet. In addition, the prolific use and popularity of the Internet could affect the sales and marketing focus of Lonely Planet from publishing guidebooks to utilizing the Internet as a more predominant medium (Clampet, 2013). As such, Lonely Planet needs to re-assess the current customization strategy to integrate aspects of global marketing strategies to tap new customers in new markets on a more global scale. Read More