International product policies
Why Firms Alter Products |
Legal, Cultural or Economic reasons |
Product line decisions depend on |
Sales, cost and product life cycle considerations |
Marketing Strategies - depends on orientation
Production |
Sales |
Customer |
Strategic |
Social marketing |
International branding strategies
Worldwide brand pros |
Global image and player ID |
Worldwide brand Cons |
Language, brand aquisition, country of origin,, generic and near generic names |
Marketing mix may vary
Gap analysis |
estimating potential sales by identifying prospects not serving adequately. Usage, line, distribution, competitive |
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Marketing principles in foreign markets
similar to those in domestic markets: Product, Price, Promotion, Place. But may need to be adapted. |
Target / segment by
Country |
Global segment |
Multiple criteria |
Country differences may req alt approach
Promotion sales messages. |
Standardized advertising: low $, better quality. common global image, rapid entry. May have issues with legals, anguage and matching market needs |
Push / Pull |
Practices and complications - Internet
Opportunities |
Fast, cheap |
Problems |
cannot differentiate between countries, legals still apply |
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Pricing strategy complexities
Potential obstacles |
Government intervention via min/max $ or prohibiting pricing strategys. Market diversity. |
Tactics |
Skimming, penetration, cost-plus |
Export price escalation |
Fluctuations in currency value |
Gray market or product diversion |
Selling and handling of goods through unofficial distributors |
Practices and complications - distribution
Distribution |
the course that goods take between production and consumption |
Physical path or legal title |
Distribution can vary substantially among countries |
Distribution can be difficult to change |
When choosing distributors and channels firms must consider |
is internal handling feasible, which distributors are qualified, reliability |
May need to give distributors |
Incentives, confidence in product, successful products |
Cause cost diff in countries |
Infrastructure, levels in distribution, retail inefficencies, size and hour restrictions, inventory stick outs |
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https://www.jchmedia.com
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