(BQ) Part 2 book “International marketing” has contents: Product strategies - branding and packaging decisions, channels of distribution, physical distribution and documentation, sources of financing and international money markets, currencies and foreign exchange, and other contents. | Chapter 10 Product strategies Basic decisions and product planning Because of the level of reliability and confidence consumers have in a certain [brand] name, they would expect more within reason. Allen Vangelos, vice president, Marketing/Customer Relations, Castle & Cooke’s Fresh Foods Division CHAPTER OUTLINE ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ 272 What is a product? New product development Market segmentation Product adoption Theory of international product life cycle (IPLC) Stages and characteristics Validity of the IPLC Marketing strategies Product standardization vs. product adaptation Arguments for standardization Arguments for adaptation A move toward world product: international or national product? Marketing of services Importance of services Types of services The economic and legal environment Marketing mix and adaptation Market entry strategies Conclusion Case McDonaldization PRODUCT PLANNING 1111 2 3 4 5 6 7 8 9 10111 1 2 3 4 5 6 7 8 9 20111 1 2 3 4 5 6 7 8 9 30 1 2 3 4 5 6 7 8 9 40 41 42 43 44 45111 PURPOSE OF CHAPTER Just because a product is successful in one country, there is no guarantee that it will be successful in other markets. A marketer must always determine local needs and tastes and take them into account (see Cultural Dimension . p. 274). Some products have universal appeal, and little or no change is necessary when these products are placed in various markets. But for every so-called universal product there are many others, as mentioned above, that have a narrower appeal. For products in this category, modification is necessary in order to achieve acceptance in the marketplace. It is generally easier to modify a product than to modify consumer preference. That is, a marketer should change the product to fit the need of the consumer rather than try to adjust consumers’ needs to fit product characteristics. An awareness of application of this marketing concept in an international setting would provide definite .
