Topic One: #
The international textile industry faces a considerable challenge is 2005.
There many uncertainties surrounding the global textile market, in addition
to the fact that in 2005, quotas will be eliminated, resulting in free trade
flows. Globalization will not only generate new market definitions due to
changing global patterns, but will also necessitate new international
business practices. Economics, politics and new trade patterns will all
have an impact on global business, and competition will continue to
increase. One effective tactic being explored by global textile companies
is the development of a niche market strategy. A niche market is defined as
a market for a specialized product or service, and a business can use this
approach to compete with fibers and fabrics, as well as with end use
products, such as home textiles and apparel.
Topic Two: #
This paper will examine how niche market definitions are being redefined due
to changing global patterns. One of the main topics this paper will address
is what role niche markets will play in 2005. Specific issues included are:
1. As competition becomes more intense, companies will compete on the basis
of lead time. This will result in shorter product life cycles, which will
encourage companies to specialize.
2. Free trade will result in a new division of labor. Countries will narrow
product lines to focus on certain markets or services in order to remain
competitive.
Topic Three: #
The research methodology used for this study is the case study method.
Personal interviews with international textile executives combined with
secondary data sources provide insights regarding niche market strategies.
The results of this study can be used in the business strategy formulation
to capitalize on niche markets and to provide a research framework for
global textile researchers.
By: rin L. Dodd ,Nancy L. Cassill, Ph.D. and William Oxenham, Ph.D.
Submit Date: 11/11/2002 20:00