Local firms have benefited from the presence of multinationals and global brands in their home markets. It is possible with the right marketing mix strategies, these followers can overcome their disadvantages and overtake the leaders in the marketplace. Thus, more research on the emergence of local firms can provide interesting
insight into the dynamic interactions between local firms and multinationals in the areas of “coopetition.” Furthermore, the effects of market fragmentation and local protectionism, which are common in transitional economies such as China, warrant systematic investigation. Mean-while, new generations of Chinese firms have
become more mature in marketing and brand management and are closing the gap with foreign brands. Differentiation based on brand positioning may not be as effective as it used to be. As many global marketers have localized various aspects of their operations from human resources to marketing, they have become less distinguishable from local firms in many areas. In view of the intensifying competition between foreign and domestic brands, how to build brand equity and cultivate consumer loyalty in emerging market represents a fruitful avenue for future research.