Professional Documents
Culture Documents
Product Decision
Victoria Joyce Noel Judge
Sharon Kilgannon
Carla Magliocco
Standardisation Vs Adaptation
In international markets, success depends on satisfying the market demands. The product or service must be suitable and acceptable for its purpose.
According to Doole & Lowe (1999, p.296), The main issue for a company about to commence marketing internationally, is to assess the suitability of the existing products for international markets. Product policy abroad: firm must decide which aspects of a product need to be adapted and which can be standardised.
Standardisation Vs Adaptation
Standardisation policy: offering a uniform version of a product in all of its foreign markets.
Adaptation policy: offering a product to targeted foreign consumers altered to specific tastes, preferences and needs. Adaptation can concern all the characteristics of the product. Decision between standardisation and adaptation is not mutually exclusive rather it is a matter of degree
A certain degree of adaptation of a product is required in international markets.
Standardisation Vs Adaptation
Product Standards
Global competition is fierce and companies are looking for new ways to differentiate themselves from competitors Using product standards as a means of differentiating their product offering
In Europe and worldwide, the ISO 9000 certification is a mark of superior quality.
Product Standards
The ISO 9000 is awarded where products are produced using certified manufacturing procedures eliminating product quality variation. The ISO 9000 is seen as a global standard made up of five sub standards. Terpstra and Sarathy (1997) suggest, quality provides an edge; corporations should strive to obtain quality standards such as ISO 9000, as these product standards are increasingly being sought worldwide.
Green Marketing
Green marketing is a term used to identify concern with the environmental consequences of a variety of marketing activities (Cateora & Graham, 2002). Consumers take environmental issues into concern when they buy, consume or dispose of products
Green Marketing
Alliances provide 5 benefits to marketers
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They provide firms with access to environmental information - support and advice
They give the marketer access to new markets - have an extensive support base
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Product Development
Eleven Critical Success Factors
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Product Development
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8. 9.
Focusing on a few projects Resources must be in place to implement the projected plan
Cooper (2002)
Key Authours
Product Packaging Development
Terpstra & Sarathy (1997) Cooper (2002; 1999; 1998) Doole & Sarathy Lowe (2001) Terpstra (1997)
R&D Management
Terpstra & Sarathy (1997)
Jeannet & Hennessey (2001)
A service is an activity which has some element of intangibility associated with it which involves some interaction with customers or with property in their possession, and does not result in a transfer of ownership. A change in condition may occur and production of the service may or may not be closely associated with a physical product
Characteristics: Intangibility, Inseparability, Perishability, Variability Pricing & Uniformity difficulties
Protectionism
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Strategic Options
Product improvements Repositioning of the product Increase the reach of the product to new users Promote more frequent use of the product Promote new uses of the product
Branding Decisions
Developing new products Degrees of product newness Brand vs. No brand Private label vs. Manufacturers own brand Co-branding vs. Ingredient branding Single brand vs. Multiple brands Local brand vs. Global brand
Positioning Strategies
Attribute or benefit Quality vs. price Use/user of the product High-tech positioning High-touch positioning
any influence that the country of manufacture, assembly, or design has on a consumers positive or negative perception of a product (Cateora & Graham, 2002, p.369) Stereotypes positive or negative
Market Entry
Unrealised market potential Competitive audit Level of Government involvement Risk evaluation
Conclusion