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Product Policy and Planning

Product Policy and Planning. Major Categories U.S. Exports. Category Percentage. Services Total 28.5. Travel (hotels, etc) 8.7 Transportation (fares, freight, and port services) 7.5 Commercial, professional, and technical services (advertising,

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Product Policy and Planning

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  1. Product Policy and Planning

  2. Major Categories U.S. Exports Category Percentage Services Total 28.5 Travel (hotels, etc) 8.7 Transportation (fares, freight, and port services) 7.5 Commercial, professional, and technical services (advertising, accounting, legal, construction, engineering) 1.7 Financial services (banking and insurance) 1.5 Education and training services (most foreign student tuition) 1.0 Entertainment (movies, books, records) 0.8 Other categories (telecommunications, information, health care) 7.3 13-2 Irwin/McGraw-Hill Source: U.S. Department of Commerce, http://www.doc.gov. 2001

  3. Major Categories U.S. Exports Category Percentage Merchandise Total 71.5 Food, feeds, and beverages (wheat, fruit, meat) 4.8 Industrial supplies (crude oil, plastics, chemicals, metals) 15.1 Capital goods (construction equipment, aircraft, computers telecommunication) 32.1 Automotive vehicles, engines, and part 7.7 Consumer goods (pharmaceuticals, tobacco, toys, clothing) 8.2 Other categories 3.6 13-3 Irwin/McGraw-Hill Source: U.S. Department of Commerce, http://www.doc.gov. 2001

  4. “Companies must learn to operate as if the world was one large market.” - Theodore Levitt (1983)

  5. Global vs. International Marketing • Standardization vs. Adaptation Controversy A. Benefits of Standardization 1) Cost Saving 2) Levitt’s Argument 3) Uniform Brand Image 4) Improved Coordination

  6. II. Standardization vs. Adaptation Controversy B. Advantages of Adaptation 1) Differing Use Conditions 2) Legal/Regulatory Factors 3) Different C.B. Patterns 4) The Marketing Concept

  7. Creating Products for Consumers in Global Markets III. The Product Components Model IV. Country of Origin Effects V. Methods of Naming Brands

  8. Product Component Model SUPPORT SERVICESCOMPONENT PACKAGING COMPONENT  Repair and maintenance  Deliveries CORE COMPONENT Trademark Price  Productplatform Designfeatures Functionalfeatures Legal Warranty  Installation Quality  Brand name Package Instructions  Spare parts Legal Styling Other related services Legal

  9. Product Variables • The Core Product • a product or services that is essentially the same as that of competitors • The Tangible Product • a product or service that is differentiated composition, origin, or tangible features from competing products • The Augmented Product • a product or service which is serviced after the sale and carries a warrantee from the producer, producing a continuing relationship with the seller.

  10. Would They Sell in the United States? • Alu-Fanny: French Foil wrap • Crapsy Fruit: French cereal • Kum Onit: German pencil sharpeners • Plopp: Scandinavian chocolate • Pschitt: French lemonade • Atum Bom: Portuguese tuna • Kack: Danish sweets • Mukk: Italian yogurt • Pocari Sweat: Japanese sport drink • Poo: Argentine curry powder

  11. Methods of Naming Brands 1) Translation 2) Transliteration 3) Transparency 4) Trans-culture

  12. VI.New Product Development 1) Idea generation 2) Screening 3) Evaluation 4) Market Testing 5) Entry / Launch VII. Product Elimination

  13. Creating Products for Consumers in Global Markets VIII. International Services 1) Growth of the Service Sector i) Deregulation / Privitization ii) Technological Advancements

  14. Unique Characteristics of Services • Inseparable in that its creation cannot be separated from its consumption. • Heterogeneous in that it is individually produced and is thus virtually unique. • Perishable in that once created it cannot be stored but must be consumed simultaneously whit its creation. 12-8 Irwin/McGraw-Hill

  15. Top Consumer Services Exports • Tourism 5. Telecommunications • Transportation 6. Entertainment • Financial Services 7. Information • Education 8. Health Care 12-9 Irwin/McGraw-Hill

  16. Creating Products for Consumers in Global Markets 2) Difficulties in Marketing Services Internationally i) Protectionism ii) Controls on Transborder Data Flow iii) Protection of Intellectual Property iv) Cultural Requirements for Adaptation 3) U.S. Strengths in Marketing Services i) High Service Expectations ii) Experience with Tough Regulations

  17. “I search the room but you’renot there. Your perfume lingers everywhere.” A global appeal???

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