INTERNATIONAL MARKETING MIX - PRODUCT POLICY:Modular Approach INTERNATIONAL MARKETING MIX – PRODUCT POLICY:Issues in labeling, Pricing, Distribution INTRODUCING NEW PRODUCTS IN INTERNATIONAL MARKETS:The new product development process Making changes in the product in response to the needs of the target market is termed as product adaptation or customization. functional features, performance) being the easiest (Doole/Lowe 2012, p. 253). The possibilities and pressures for standardising product elements in the international context differ, with adaptation being most necessary for augmented product features and standardisation of the core product (i.e. Product Life Cycle o Products pass through several stages of development in its life from introduction to decline. Therefore would say that a truly global product does not exist. process of maintaining uniformity and consistency among the different iterations of a particular good or service that are available in different markets Adaptation can concern all the characteristics of the product. This can be achieved by exporting a company's product into another country; entry through franchising or licensing in the target country; or direct investment in a … In such circumstances, the most viable option for international expansion is adaptation of the company’s product and communication strategy. Size of packaging, material used in packaging, before- and after-sale service, and warranties may have to be adapted in view of the scope and level of service provided by the distribution structure in the country markets targeted. Research showed that Russian consumers like premium instant coffee, so Kraft positioned its Carte Noire freeze-dried coffee as an upscale brand. What Are Uncontrollable Factors in Marketing? needs. Introduction: Standardisation Adaptation 1. Whereas for adaptation, a company would change their methods such as the price, promotion, packaging and/or the product itself in order to fit the needs and preferences of the market or a particular country. All rights reserved. Marketing, International Marketing Review, and Journal of International Business Studies, among others (A list of the studies included in the meta-analysis can be requested). In this context, the major question is which product features should be tailored to market conditions. Market environment 2. It noted that increased milk demand in China and other developing markets was a contributing factor to higher milk prices around the world. That means in terms of target markets, packaging and designs, ingredients, languages, culture and etc the organizations need to come up with different ways … It may also include manufacturing a new product with basis of customizations of a product already in existence. The company created an Oreo apprentice program at 30 Chinese universities that drew 6,000 student applications. Privacy Notice/Your California Privacy Rights. Product standardisation versus product adaptation in international marketing - Kindle edition by Daberto, Manfred. As tariff barriers (tariffs, duties, and quotas) are gradually reduced around the world in accordance with World Trade Organization (WTO) rules, other nontariff barriers, such as product standards, are proliferating. Some of them rode around Beijing on bicycles, outfitted with wheel covers resembling Oreos, and handed out cookies to more than 300,000 consumers. Coding of Studies Chapter 1: Introduction to International Marketing, 1.3 The Motivation for International Marketing, Chapter 2: International Business and Trade, 2.2 International Economic Cooperation among Nations, 2.5 The United Nations and the Impact on Trade, Chapter 3: Social and Cultural Environment, 3.1 Factors Shaping the Global Marketing Environment, Chapter 4: The Economic and Political Environment, Chapter 5: Economic Development in the World, 6.2 Global Market Opportunity Assessment - PESTEL Analysis, 6.3 Global Market Opportunity Assessment - CAGE Analysis, 6.4 Global Market Opportunity Assessment - Scenario Planning and Analysis, 6.7 Using Demographics to Guide Global Marketing Strategy, 9.4 Determinants of Global Brand Structure, Chapter 10: Global Channels and Supply Chains, 12.4 Currency Fluctuations and Global Pricing, Chapter 13: The International Marketing Plan, 13.2 Writing the International Marketing Plan, Core Principles of International Marketing, Creative Commons Attribution-NonCommercial-ShareAlike 4.0 International License, appreciate when product adaptation are warranted, list the dimensions of value proposition adaptation, list the major drivers behind value proposition adaptation. Although many products seem to be global nowadays, experiences show that almost all countries have local cultural and regulatory requirements, and in fact even products that seem to be global often have a local dimension. As you will see from this website, product is a focal element of the marketing mix. Thus, with this paper, we hope to contribute to the literature on product adapta tion and market orientation. Global marketing is defined as the process of adjusting the marketing strategies of your company to adapt to the conditions of other countries. Download for offline reading, highlight, bookmark or take notes while you read Product standardisation versus product adaptation in international marketing. Moreover, product modification or adaptation approach will results in a boost in sales volume of the company in international market; by highly meeting the wants and needs of the consumers, but reflecting on the competing companies; and by also retention of the current customers through frequently updating the product. In other cases, warranties similar to those in the home country market may not be expected. When dealing with international marketing one of the key points to consider is whether the product or marketing mix should be standardized or adapted to each local market. In business, the term “glocal” describes activities that … Cultural considerations and customs may influence branding, labeling, and package considerations. Evaluate the various factors of standardization and adaptation, and suggest the conditions under which each of them is suitable. With this approach, you don't need to create new products or services, but to slightly change or improve the ones you already have. LITERATURE REVIEW AND HYPOTHESES Product Adaptation and Performance Export marketing strategy can be viewed as a series of decisions relating to an organization's (1) overall strategic

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