A professor of marketing at the Tuck School of Business at Dartmouth University took home this year’s Excellence in Global Marketing Research Award from the American Marketing Association (AMA), the school announced this week. Professor Peter Golder received the award on August 6th for a 2002 Journal of Marketing Research article introducing the concept of near-market knowledge.
Near-market knowledge is a concept designed to help firms better understand market entry decisions by reflecting the knowledge they generate by operating in markets that are culturally and economically similar. The study’s findings suggest that today’s expanding companies should consider developing experience in foreign markets as a basis for entering other similar markets.
“Entering foreign markets is a key component of the growth strategy of most firms,” Golder said in a statement, adding that many firms nonetheless fail in these efforts. “The most successful companies leverage their experiences in other similar foreign markets. Without such experiences, companies are better off gaining experience in smaller markets prior to entering larger, similar markets,” he continued.
For the purposes of the study, Golder and co-author Debanjan Mitra compiled extensive data on the foreign market entries of 19 multinational firms. The AMA award recognizes Golder as the author of an outstanding research article based on the long-term impact of its findings.
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