1. Niyaz Hasanabba
 Shruthi B.j
joyal pinto
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2.  Most Important “P” among 4 P’s in the marketing
mix.
 It is a collection of physical, psychological, service
and symbolic attributes that collectively yield
satisfaction, or benefits, to a buyer or user.
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3. Definition:
Philip Kotler defines a product as “anything
that can be offered to a market for attention,
acquisition, use or consumption that might satisfy a
want or need, includes physical objects, services,
persons, places, organizations & ideas”.
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5.  Pre-Introduction
 Introduction
 Growth
 Maturity
 Decline
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6.  It involves determining which products to
introduce into which countries; what modification
to make in the products….etc
 Three other consideration:
 Product Objective
 Coordination of product planning activities
between headquarters and subsidiary
 Foreign collaboration
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7.  Idea Generation
 Evaluation and Selection
 Concept Testing
 Business Analysis
 Product Development
 Market Testing
 Commercialization
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8.  Product positioning
 extent to which products should be adapted or
standardized for penetration into foreign markets.
 other factors like brand, label, packaging,
warranties & Service requirements.
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9.  Process by which marketers try to create an image or
identity in the minds of their target market for its
product, brand, or organization.
 Top of the mind impression about a particular product
or brand.
 Perception about something caused due to promotional
activity, usage, quality etc… over a period of time.
 Ex: Chinese Mobile phone brands, Apple, etc…
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10.  When an enterprise enters a new export market
 It must determine how it should design its marketing
strategy to fit local conditions.
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11.  Market Demand
 Economics of plant & marketing operations
 Governmental Effects
 Compatibility with company resources & policy
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12.  Inorder to determine the suitability of a product
for a given market, it is necessary to establish the
basic function of the product.
 A product has many usages & purposes.
 Sometimes even the secondary functions play an
important role in consumer’s evaluation of a
product.
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13.  Economics of operation usually favour
standardization of the product offering as it
reaches economies of scale.
 But with different measurement systems, it may be
difficult to achieve standardization.
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14.  Governments affects the product design in
numerous ways.
 Each of it has a potential effect on decisions to
make product modification
 Specifications which must be met before a
corporation can bid on govt. projects.
 Labeling laws – specific information and size
etc… needs to be mentioned.
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15.  Anyproduct offered must present a reasonable
compromise between the requirements of the
market and resources available to the firm.
 Firms try to match production, marketing
capabilities with company’s profits.
 Sometimes lack of market knowledge will lead
to problems.
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16. Cost efficiency
Advertising efficiency
 Idea utilization
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17.  Cultural, political, economic differences among
countries may make it all but impossible to use a
single standardized marketing strategy.
 Advertising is often the key component of the
marketing strategy that the firm would like to
standardize. But it might not be effective in some
markets as they need a customized change.
 Ex: Language change, Brand model etc…
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18.  Brand policy becomes more important to the
multinational firm as competition tightens in the
local markets.
 If the producer is to gain the advantage of
promotional effort,…
 The consumer must be able to identify the product
and to separate it from those of competitors.
 Identification could be the colour, logo, name
etc…
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21.  The 4 main branding alternatives are:
 Selling unbranded goods, or selling goods to be resold
under the brand of distributor
 Establish single worldwide brand to identify the
producer’s product in all markets
 Establishing local brand names for the separate national
markets
 Establish several brands in a market to identify individual
products or groups of products in the manufacturer’s line.
(ex: food, cosmetics)
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22. Most marketers of manufactured products probably
believe that branding is desirable,…But there are a
number of instances in which it is costly & difficult to
establish a brand to make profit.
Because…
 The product must have the potential demand & margin
to support the additional promotional costs & yet
provide a greater profit
 Maintain same quality. Customers want consistency.
 Should be identifiable & differentiate with others.
 Product should be consistently available to the
consumer to make the best use of the promotional
activities etc…
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23.  One product, One Message – Worldwide (straight
Extension)
 Same Product, but modified communications
(Communication Adaption).
 Product Adaptation – Communications Extension
 Dual Adaptation
 Product Invention
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24.  Once a company has chosen the market segment to
which it will cater,…
 It is confronted with the problem of determining
whether its present products are ideal for such a
move.
 Domestic Product to be marketed abroad
 Easiest decision is to take the established product
abroad as its proven.
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25.  Cost savings can be obtained as R & D cost is lesser,
Economies of scale can be reached, etc…
 But… if the product does not satisfy the basic needs of
the market, it won’t sell.
 Therefore should meet the requirements of the new
market segment, but it also adds costs.
 Usually some modification of the basic product, brand
policy, packaging, or service is desirable to secure a
better fit.
 Ex: Middle Eastern & Japanese markets, the products
are usually modified to meet their tastes.
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26.  Products needs be tailored to each customer target
group because there are variables like…
 Economic, political, cultural, etc.. Which vary from
country to country.
 But some products are more global and require less
adaptation on the whole.
 Coca Cola is less sweet or less carbonated in certain
countries.
 Indian pickles are mildly hot in Gulf Countries and
not at all hot in USA.
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