Product Policy and Adaption in International Markets
Chapter 9
Product policy and adaption in international markets
Product variables
Standardisation verses adaption * Marketers must consider environmental and sustainability issues when deciding on whether adaption is needed. * Below standardisation vs adaption Factors encouraging standardisation | Factors encouraging adaption | Economies of scale in production | Differing use conditions | Economies in r&d | Government influence | Economies in marketing | Differing consumer patterns | Reduced world market place | Local competition | Global competition | True to the marketing concept |
The market environment * Governemtn regulations-often present the most stringent requirements. Some of the requirements may serve no purpose other than political. * Non tariff barriers- product standards, testing or approval procedures, subsides for local products, and bureaucratic red tape. * Customer characteristics, expectations and preference- * Economic development-take into account the present stage of economic development in overseas markets. As country advances, buyers are in a better position to buy and demand more sophisticated products and product version. * Competitive offerings-monitoring competitorz product features, as well as determining what has to be dpone tpo meet, and be superior. * Climate and geography- usually have an effect on the total product offering: the product, tangible elements, aminly packaging and the argument features.
Product characteristic * Produt constituents-marketer must mnake sure the products do not contain ingrediants that might be in violation of legal requirements or religious or social customs. * Branding- term brand refers to a name, term, symbol, sign or design used by a firm to differenciate from competing firms or products. * Packaging-serves three main functions protection, promotion and user convieneince. * Appearance- adaption in product styling, colour, size and
Product policy and adaption in international markets
Product variables
Standardisation verses adaption * Marketers must consider environmental and sustainability issues when deciding on whether adaption is needed. * Below standardisation vs adaption Factors encouraging standardisation | Factors encouraging adaption | Economies of scale in production | Differing use conditions | Economies in r&d | Government influence | Economies in marketing | Differing consumer patterns | Reduced world market place | Local competition | Global competition | True to the marketing concept |
The market environment * Governemtn regulations-often present the most stringent requirements. Some of the requirements may serve no purpose other than political. * Non tariff barriers- product standards, testing or approval procedures, subsides for local products, and bureaucratic red tape. * Customer characteristics, expectations and preference- * Economic development-take into account the present stage of economic development in overseas markets. As country advances, buyers are in a better position to buy and demand more sophisticated products and product version. * Competitive offerings-monitoring competitorz product features, as well as determining what has to be dpone tpo meet, and be superior. * Climate and geography- usually have an effect on the total product offering: the product, tangible elements, aminly packaging and the argument features.
Product characteristic * Produt constituents-marketer must mnake sure the products do not contain ingrediants that might be in violation of legal requirements or religious or social customs. * Branding- term brand refers to a name, term, symbol, sign or design used by a firm to differenciate from competing firms or products. * Packaging-serves three main functions protection, promotion and user convieneince. * Appearance- adaption in product styling, colour, size and