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- 1. Creating Products and Brands for Consumers in Global
Markets
- 2. Product Components Core ComponentCore Component Packaging
ComponentPackaging Component Support Services ComponentSupport
Services Component
- 3. Product Component Model Repair and maintenance SUPPORT
SERVICES COMPONENT CORE COMPONENT Installation Instructions Other
related services Deliveries Warranty Spare parts Legal Trademark
Brand name Legal Product platform Design features Functional
features Legal PACKAGING COMPONENT Price Quality Package
Styling
- 4. 4 Ps - Product Product decisions are all decision which
relate to the physical product and/or service offering, including
its name, packaging, warranty, and availability. Product dimensions
include: Size of the product Color(s) of product Scent of the
product Materials/ composition of the product Design of the product
Packaging materials Package colors and package design Brand name
Warranty Availability of options Customizing services After-sale
service offerings Inventory levels
- 5. The International Marketing Dilemma ProductProduct
StandardizationStandardization ProductProduct AdaptationAdaptation
VSVS..
- 6. Benefits of Product Standardization + Lower manufacturing
costs + Lower input costs + Cost savings due to elimination of
product adaptation efforts + Fast global roll-outs are
possible
- 7. Benefits of Product Standardization + Product available for
global customers + Enhance consumer perceptions of global
brand
- 8. PRESSURES FOR PRODUCT ADAPTATION Competitive offerings
Climate, geography, & infrastructure Government regulations
& international standards Customer expectations, preferences,
& buyer behavior
- 9. Factors Influencing Product Adaptation vs. Standardization
Stage in Product Life CycleStage in Product Life Cycle
Legal/Standards ConstraintsLegal/Standards Constraints Product
InnovativenessProduct Innovativeness Cultural DifferencesCultural
Differences
- 10. Types of Product Adaptation Mandatory Necessary for product
to be sold in a local market Discretionary Not necessary but may be
beneficial
- 11. Benefits of Product Adaptation + Penetrate otherwise closed
markets + Able to use products in different climates &
infrastructures + Better product performance in different use
conditions + Decreased costs due to varying local inputs
- 12. Benefits of Product Adaptation + Decreased costs due to
feature elimination + Increased sales due to better meeting
industry norms or cultural preferences
- 13. Strategic Adaptation to Foreign Markets High Low Degree of
Cultural Grounding Need for Adaptation Industrial/ Technology
Intensive Consumer Nature of Product
- 14. Adopter Categories in Diffusion Process
- 15. Exploiting Product Lifecycles
- 16. International Product Trade Cycle Model 1 2 3 4 5 6 7 8 9
10 11 12 13 14 15 1 3 4 5 6 7 8 9 10 11 12 13 14 15 1 2 3 4 5 6 7 8
9 10 11 12 13 14 15 High Income Countries Medium Income Countries
Low Income Countries Time Stages of Production Development New
Product Standardized ProductMaturing Product Q u a n t i t y
production consumption 2
- 17. Characteristics of Innovations Relative Advantage
Compatibility Complexity Trialability Observability
- 18. What is a brand? A name, term, sign, symbol, or design, or
combination of them which is intended to identify the goods and
services of one seller or group of sellers and to differentiate
them from those of competitors (Kotler, 1991)
- 19. Brand Strategies Global BrandsGlobal Brands National
BrandsNational Brands Global/National Brand MixGlobal/National
Brand Mix Private BrandsPrivate Brands
- 20. Global v. Local branding In 1989, Mars changed the name of
Kal Kan cat food to Whiskas. Why? Sharing of ideas in global
corporation Pet owners travel and might switch if their familiar
brand was not available somewhere. Two years earlier, Mars had
created to other global brands Kal Kan dog food Pedigree in U.S.
Mealtime dry dog food Pedigree Mealtime High market share in U.S.
Brand associations
- 21. Global v. Local Brands Global brands provide: Scale
economies in the Development of advertising, packaging, promotion,
etc. Exploitation of: Media overlap Exposure to customers who
travel Associations of a global presence of the home country Local
brands provide: Names, symbols, and associations that can be:
Developed locally Tailored to local market Selected without the
constraints of a global brand Reduced risk from Buy Local
sentiments
- 22. Brand Name Decisions Arbitrary or invented word (Lexus)
Recognizable English (or foreign language) word but unrelated to
product (Cheer) Recognizable English (or foreign language) but
suggestive of product (Mr. Clean) English (or foreign language)
word descriptive of product but may not be understandable to
outsiders (Pampers) Geographic place or common surname (Kentucky
Fried Chicken) Device, design, number or some other element
(3M)
- 23. What is brand equity? A set of brand assets linked to a
brand, its name and symbol, that add to or subtract from the value
provided by a product or service to a firm and/or to that firms
customers.
- 24. Developing A Framework For Generic Brands Based on Brand
Knowledge Brand Awareness Recognition Recall Brand Image Type
Strength Favorability Uniqueness of Brand Associations Components
of Brand Knowledge (Keller, 1992)
- 25. Packaging & Labeling Adaptations Size, shape, materials
Product packaging norms Existing standards Economic development
Environmental concerns Color & text Promotional strategy
Cultural meaning & implications Government regulations Language
issues