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Chapter 13 AND 14 INTERNATIONAL PRODUCT DECISIONS

Chapter 13 AND 14 INTERNATIONAL PRODUCT DECISIONS. PRODUCT COMPONENTS. SUPPORT SERVICES COMPONENT. PACKAGING COMPONENT.  Repair and maintenance.  Deliveries. CORE COMPONENT.  Trademark.  Price.  Installation.  Warranty.  Product platform  Design features

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Chapter 13 AND 14 INTERNATIONAL PRODUCT DECISIONS

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  1. Chapter 13 AND 14 INTERNATIONAL PRODUCT DECISIONS

  2. PRODUCT COMPONENTS SUPPORT SERVICESCOMPONENT PACKAGING COMPONENT  Repair and maintenance  Deliveries CORE COMPONENT  Trademark  Price  Installation  Warranty  Product platform  Design features  Functional features  Legal  Quality  Brand name  Package  Spare parts  Instructions  Styling  Other related services

  3. S-A MODEL • Planning involves 4 Ps • Standardization Adaptation Debate and Continuum Standardization_____________________Adaptation Product 5______4______3______2______1 Price 5______4______3______2______1 Promotion 5______4______3______2______1 Distribution 5______4______3______2______1 Planning 5______4______3______2______1 • Factors favoring Standardization or Adaptation

  4. GLOBAL PRODUCT ISSUES • Core vs. augmented product, how global competition changed • How price and quality affect competition • Is quality cultural dependent? • ISO 9000/ISO 14000 • Products and Culture • Services in global marketing • Service opportunities in global markets • Protectionism in service marketing • Restrictions on dataflow • Protection of intellectual property • Cultural barriers and adaptation

  5. GLOBAL PRODUCT ISSUES…contd. • Global/national brands—successful? • Country of Origin (COO) effects • Green Marketing • B2B Marketing • Demand in Global B2B-growing very fast, derived demand • Stages of Economic Development-how it affects the demand and growth of the B2B products (Use Rostow’s classification) • Level of Technology in a country-how it affects demand • www.alibaba.com

  6. GLOBAL PRODUCT ISSUES…contd. • How price and quality affect competition • Is quality cultural dependent? Defined by the buyer? • International Quality Standard-ISO 9000/ISO 14000 • After sales services are demanded too • Products and Culture • International Trade Shows-crucial for B2B marketing • Online trade fairs- www.itradefair.com • Online B2B example: www.alibaba.com • Relationship marketing in B2B • Solar Turbines Inc. example

  7. MANAGING PRODUCTS IN GLOBAL MARKETS • Global product mix: item, line, width and depth • Optimum product mix • Global branding issues: Global vs. National • Product innovation and diffusion in global markets • Managing global innovations and R&D • Managing diffusions

  8. OPTIMUM PRODUCT MIX OF A COMPANY DEPENDS ON THE FOLLOWING FACTORS • Level of market/economic development • Sales/Profit • Competition • Market characteristics • Product characteristics • Legal considerations

  9. CHARACTERISTICS OF PRODUCTS INFLUENCING DIFFUSION/ADOPTION • Relative advantage(over existing products) • Compatibility(with existing products, values etc.) • Complexity(perceived difficulty in use) • Trialability(perceived economic or social risk) • Observability(visibility of product benefits / advantages)

  10. DIFFUSION MODEL: BASS (1969) S(T) = p m + (q - p) Y(T) – q/m [Y (T)]2where, S(T) = Sales at time T p = Coefficient of innovation m = Coefficient of imitation Y(T) = Number of previous buyers

  11. DISCUSSION QUESTIONS • Explain how culture affects product decisions. • Discuss the role of branding in global marketing. Do “country of origin” influence branding? Explain. • What is optimum product mix? What factors affect optimum product decisions? • Explain how various characteristics of the product affect innovation/diffusion process. • Discuss B2B marketing. Explain its role, practice, and influence in global marketing.

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