(BQ) Part 2 book "Global marketing management" hass contents: Global pricing, global communication strategies, sales management, global logistics and distribution, export and import management, marketing strategies for emerging markets, sustainable marketing in the global marketplace,.and other contents. | k Trim Size: x 11in Kotabe V1 - 11/14/2016 11:53am Page 308 ᭜ ᭜ ᭜ ᭜ ᭜ ᭜ ᭜ ᭜ ᭜ ᭜ ᭜ ᭜ ᭜ ᭜ ᭜ ᭜ 10 GLOBAL PRODUCT POLICY DECISIONS I: DEVELOPING NEW PRODUCTS FOR GLOBAL MARKETS ᭜ ᭜ ᭜ ᭜ ᭜ ᭜ ᭜ ᭜ C ᭜ ᭜ ᭜ ᭜ ᭜ ᭜ ᭜ ᭜ ᭜ ᭜ ᭜ ᭜ ᭜ HAPTER OVERVIEW 1. STANDARDIZATION VERSUS CUSTOMIZATION 2. MULTINATIONAL DIFFUSION 3. DEVELOPING NEW PRODUCTS IN THE GLOBAL MARKETPLACE 4. TRULY GLOBAL PRODUCT DEVELOPMENT 5. APPENDIX: USING CONJOINT ANALYSIS FOR CONCEPT TESTING IN GLOBAL NEW PRODUCT DEVELOPMENT k k A cornerstone of a global marketing mix program is the set of product policy decisions that multinational companies (MNCs) constantly need to formulate. The range of product policy questions that need to be tackled is bedazzling: What new products should be developed for what markets? What adaptations, if any, should be made when we roll out an existing product in a new market? What products should be added to, removed from, or modified for the product line in each of the countries in which the company operates? What brand names should be used? How should the product be packaged? serviced? and so forth. Clearly, product managers in charge of the product policy decisions of an MNC have their work cut out for them. Improper product policy decisions are easily made as the following cases illustrate: • Ikea in the United Ikea’s initial foray in the United States was plagued with teething problems. Stores were in poor locations. Ikea stubbornly refused to size its beds and kitchen cabinets to fit American sheets and appliances. Bookshelves were too small to hold a television set. Bath towels were too small and too thin. Customers bought vases to drink from, as glasses were too small. Sofas and mattresses were too hard. Ikea’s system of self-service and self-assembly puzzled Americans. Prices were too high. Ikea remedied the situation by adapting the product line, choosing new and bigger store .
