This document discusses several topics related to international business and product management. It covers the different orientations companies can take when expanding internationally, including ethnocentric, polycentric, regiocentric, and geocentric. It also discusses factors companies consider when deciding whether to standardize or adapt their products for different markets. Some of these factors include government regulations, consumer preferences and characteristics, economic development levels, and product characteristics themselves. Lastly, it touches on challenges like product counterfeiting internationally.
Product decisions in International Marketing management includes market segment decision, positioning and communication decisions. The term product decision includes product strategy, product planning and product management.
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Product decisions in International Marketing management includes market segment decision, positioning and communication decisions. The term product decision includes product strategy, product planning and product management.
For more such innovative content on management studies, join WeSchool PGDM-DLP Program: http://bit.ly/ZEcPAc
Brand management is the analysis and planning on how that brand is perceived in the market. Developing a good relationship with the target market is essential for brand management. Tangible elements of brand management include the product itself; look, price, the packaging, etc. The intangible elements are the experience that the consumer has had with the brand, and also the relationship that they have with that brand.Brand management is a function of marketing that uses special techniques in order to increase the perceived value of a product
Deviprasad Goenka Management college of Media Studies
http://www.dgmcms.org.in/
Subject:BRAND BUILDING
Lesson : Brand startegies
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Brand management is the analysis and planning on how that brand is perceived in the market. Developing a good relationship with the target market is essential for brand management. Tangible elements of brand management include the product itself; look, price, the packaging, etc. The intangible elements are the experience that the consumer has had with the brand, and also the relationship that they have with that brand.Brand management is a function of marketing that uses special techniques in order to increase the perceived value of a product
Deviprasad Goenka Management college of Media Studies
http://www.dgmcms.org.in/
Subject:BRAND BUILDING
Lesson : Brand startegies
Faculty Name: Vishal Desai
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In international marketing, the marketers are required to come up with a decision as to whether they are going to standardize the product or to modify the existing products which is one of the challenging decisions that they have to make. And this decision can make impacts on the organization in terms of the Research and development expenses, finance, production, organization structure, procurement, marketing mix etc. And the decision as to which to choose depending on the attitudes towards the different cultures. So in this article, we are going to cover these two concepts so that you can have an idea about the two concepts in depth.
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The Roman Empire, a vast and enduring power, stands as one of history's most remarkable civilizations, leaving an indelible imprint on the world. It emerged from the Roman Republic, transitioning into an imperial powerhouse under the leadership of Augustus Caesar in 27 BCE. This transformation marked the beginning of an era defined by unprecedented territorial expansion, architectural marvels, and profound cultural influence.
The empire's roots lie in the city of Rome, founded, according to legend, by Romulus in 753 BCE. Over centuries, Rome evolved from a small settlement to a formidable republic, characterized by a complex political system with elected officials and checks on power. However, internal strife, class conflicts, and military ambitions paved the way for the end of the Republic. Julius Caesar’s dictatorship and subsequent assassination in 44 BCE created a power vacuum, leading to a civil war. Octavian, later Augustus, emerged victorious, heralding the Roman Empire’s birth.
Under Augustus, the empire experienced the Pax Romana, a 200-year period of relative peace and stability. Augustus reformed the military, established efficient administrative systems, and initiated grand construction projects. The empire's borders expanded, encompassing territories from Britain to Egypt and from Spain to the Euphrates. Roman legions, renowned for their discipline and engineering prowess, secured and maintained these vast territories, building roads, fortifications, and cities that facilitated control and integration.
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1. Management Orientation of Companies
Ethnocentric
– Rocks on the domestic market
– Relies heavily on home knowledge base and develops
– Seeks similarity internationally as per home knowledge
Polycentric
– Every country is different market
– Federal structure with profit centre heads
Regiocentric
– World is broken into regions with region hubs
– Polycentric with shared knowledge of regions
Geocentric
– Extremely worldwide view of market
– Shared knowledge base with integrated management
2. Develpoment Stages of Companies
Domestic
– Markets product in home country
– Ethnocentric
– Single layer organisation structure
Multinational/Multi Regional
– Multiple Office organisation with matrix structure
– Ethnocentric and Polycentric
Global/Transnational
– Federal Structure
– Typically geocentric organisations
3. 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.
4. Product Variables
Augmented
Product
Installation
Tangible
Packaging Product
Core
Core
Product
Delivery Brand Benefit
or
Styling After
Name
and Service Sale
Credit Service
Quality Features
Warranty
5. Standardization versus Adaptation
The fundamental international product
decision after the decision to internationalize.
International market approach alternatives to
adaptation
• Sell the product as it is internationally.
• Modify product for different countries or regions.
• Design new products for foreign markets.
• Incorporate all differences into one product and
introduce it globally.
6. Factors Encouraging Standardization
Economies of scale in production
Economies in product R&D
Economies in marketing
“Shrinking” of the world marketplace and
increasing economic integration
Global competition
7. Factors Encouraging Adaptation
Differing use conditions
Government and regulatory influences
Differing consumer behavior patterns
Local competition
True to the marketing concept
8. Strategic Alternatives
Different
Product extension, Dual Adaptation
Differentiated
branding
Communication
Dual Extension Communication
Extension, Product
Adaptation
Same
Same Different
Product
9. Factors Affecting Adaptation
Market Product Company
Environment Characteristics Considerations
Decision to Alter the Domestic Product
10. The Market Environment
Government Regulations
• Political and social agendas often dictate
regulatory requirements
Nontariff Barriers
• Product standards, testing, subsidized local
products
Customer Characteristics, Expectations, and
Preferences
• Physical size, local behaviors, tastes, attitudes,
and traditions
• Consumption patterns, psychosocial
characteristics, and general cultural criteria
11. The Market Environment
Economic Development
• The stage of economic development affects the
market size and demand characteristics.
Competitive offerings
• Monitoring competing local products is critical in
adjusting the product for competitive advantage.
Climate and geography
• Local climatic conditions and terrain features can
make products vulnerable to damage.
12. Product Characteristics
Product Constituents
Branding
Packaging
Appearance
Method of Operation or Usage
Quality
Service
Country-of-Origin Effects
13. Product Constituents and Branding
Product ingredients must not violate local
legal regulations and social or religious
customs
Care must be taken that the brand in name.
term, symbol, sign, or design does not offend
the local customer. Trademarks are
especially vulnerable to counterfeiters.
Selecting the global brand name
• Translation
• Transliteration
• Transparency
• Transculture
14. Packaging and Appearance
Packaging serves three major functions:
• Protection
– Improper handling and pilferage
• Promotion
– Language and symbols
• User convenience
– Packaging aesthetics- color and shape, overall size, and
purchase quantity
Adaptations in styling, color, size, and other
appearance features play an importance role
in how a consumer perceives a product.
15. Method of Operation or Usage
Physical Operability of product as per markets
Electrical voltages and connectors vary around the world.
English and metric standards are not comparable.
Software may have to be translated into the local language.
Quality and Service
Quality is essential to marketing products internationally,
especially in markets where price is an important competitive
factor.
International Certifications may be required by buyers. (ISO/CE
etc)
Servicing products in international markets requires producers
to develop local repair staffs.
16. Country-of-Origin Effects
The origin of a product may have a strong
effect on consumer perceptions and biases
about foreign products.
a) COO effects are not stable; perceptions change over time
b) In general, consumers prefer domestic products over imports
c) place of manufacture v/s company’s headquarters
e) COO effects depend on the product category France
Swiss
17. ROLE OF BRANDS: CULTURAL
DIFFERENCES
JAPAN US EUROPE
IMAGE RISK REDUCTION RECOGNITION/ENVY
“FEEL GOOD” TIME SAVER ACHIEVEMENT
EMOTIONAL PEER DOMINATION HIGH ASPIRATIONS
“BELONGING” DISTINCT INDIVIDUAL
PEER RECOGNITION
18. Company Considerations
Organizational capabilities?
Is it worth it?
Can we afford not to do it?
Can a specific return-on-investment (ROI) be
attained?
Warranties?
Managerial talent?
19. Product Counterfeiting
Costs U.S. firms over $60 billion a year
Counterfeiting is estimated at 2% to 5% of
total world trade annually.
The largest number of counterfeit goods
come from:
• Brazil
• Taiwan
• Korea
• India