The document discusses various aspects of developing and marketing products internationally, including standardized vs. adapted products, product classifications, new product development challenges, product screening and evaluation processes, product life cycles, and factors that influence product diffusion across countries. It notes that products are typically introduced and see most growth in developed markets before being exported to developing countries as they reach maturity, and that manufacturing may shift to developing nations for cheaper labor costs during later stages.

1. International Product 2-Apr-2009 HeMANT BAMORIYA

3. Services

4. Experiences

5. Events

6. Persons

7. Places

8. Properties

9. Organizations

10. Information

11. Ideas2-Apr-2009

12. Product Levels 2-Apr-2009

13. Product Classifications Services Example: BCG, Amazon.com Nondurable Example: Coca Cola, Kellogg’s Durable Example: BMW, Apple iPhone 2-Apr-2009

18. International consumers might not respond as anticipated

19. Local government might impose restrictions on product

20. Techno infra of individual markets may be substandard and unable to support the product2-Apr-2009

22. Competitive Analyses

23. Channel Members

24. Employees

25. Top Management

26. Inventors

27. Consultants

28. University Researchers2-Apr-2009

30. The extent to which product offers unique benefits

31. The extent to which target market is large and/or is likely to grow

32. Fit between new product requirements and resources, skills, experience of the firm2-Apr-2009 ?

34. Ask consumers to evaluate and indicate willingness to buy

35. Use: Focus Group, Questionnaire

36. Be careful: Xerox 8:80 2-Apr-2009

38. Return on investment

39. Cash flow

40. Fixed/variable costs2-Apr-2009

41. Product Development Create prototypes Create brand identity and marketing mix Coordinate strategy across international subsidiaries 2-Apr-2009

43. Provides estimate of product performance in the respective country or region

44. Expensive

45. Time consuming

46. Open to competitive sabotageOK TESTED 2-Apr-2009

48. Linguistics

49. Respect culture(s)

50. Consider connotation

51. Obey local laws2-Apr-2009

53. Place

54. Price

55. Promotion2-Apr-2009

57. On-time shipment

58. Appropriate product availability

59. Quality sales force and support

60. Quality and amount of promotion2-Apr-2009

62. New product to existing company

63. Modification of an existing company product

64. New item in an existing product line

65. New line

66. Innovation2-Apr-2009

68. Relative advantage, compared to competitive products

69. Compatibility with the needs of the consumers

70. Observability, or communicability to other consumers

71. Trialability – the ability of consumers to experience the product with only minimal effort

73. Lag country – developing country that adopts the product laterProduct Diffusion Internationally 2-Apr-2009

75. Risk takers who can afford to pay a higher price during the introduction stage (2.5% of the total market)

76. Primarily consumers in developed countries

77. Early adopters

78. Consumers who purchase the product early in the lifecycle stage and who tend to be opinion leaders in their community

79. (13.5% of the total market)

80. Primarily consumers in developed countries2-Apr-2009

82. Consumers who enjoy status of being among the first to purchase a popular product (34% of the total market)

83. Consumers are primarily from developed countries

84. Late majority

85. Consumers who adopt popular products when the risk associated with them is minimal (34% of the total market)

86. Consumers are from both developed and developing countries

87. Laggards

88. The last consumers to adopt a product; they are risk averse and conservative in their spending (16% of the total population)

89. Consumers are primarily from developing countriesProduct Diffusion Internationally 2-Apr-2009

90. The International Product Life Cycle Introduction and Growth Stages Early Maturity Late Maturity Decline MNC Moves Production to Developing Country; Begins Importing to Home Country Developing Country Markets Remain Viable Target Markets for MNC; MNC Home Country Market Is Diminishing Developing Country Competitor Exports Product To MNC Home Country; Competes with MNC Imports MNC Manufactures Product in Developed Countries; Exports to Developing Countries Sales Time 2-Apr-2009

93. Marketed primarily in developed countries

94. Product is exported to developing countries2-Apr-2009

96. Sales are leveling off

97. Profits decline due to intense competition

98. Manufacturing operations move to developing countries to take advantage of cheap labor

99. New competitors: firms from developing countries2-Apr-2009

101. Decrease in sales and profits

102. Product lifecycle is extended through sales to consumers in developing countries2-Apr-2009

103. References www.ezinearticles.com, “Developing A New Product : When To Consider Domestic Vs International Marketing” www.wikipedia.org Subhash Jain, International Marketing, Asian Books Private Limited, South Western Thomson Learning, 6th Edition 2-Apr-2009

104. Thank You! 2-Apr-2009