To what extent must the company adapt its products and marketing program to each foreign country

1. To what extent
must the company
adapt its products
and marketing
program to each
foreign country ?
By Mausumi Mohanta

2. International companies decide
how much to adapt their
marketing strategy to local
conditions as follows

3. 1) Standardized marketing program
worldwide
2) An adapted marketing program with
a marketing to each target group.

4. Pros & Cons
of Global Marketing
Pros
• Economies of scale
• Lower marketing
costs
• Power and scope
• Consistency in brand
image
• Ability to leverage
• Uniformity of
marketing practices
Cons
• Differences in
consumer needs,
wants, usage
patterns
• Differences in
consumer response
to marketing mix
• Differences in brand
development process
• Differences in
environment

5. Because of all the cultural
differences, most products require
at least some adaptation.

6. Adaptable Marketing Concepts
for Global Marketing
• Product features
• Labeling
• Colors
• Materials
• Sales promotion
• Advertising media
• Brand name
• Packaging
• Advertising execution
• Prices
• Advertising themes

7. 10 Commandments
of Global Marketing
1. Understand similarities and differences in
the global branding landscape
2. Do not take shortcuts in brand building
3. Establish a marketing infrastructure
4. Embrace integrated marketing
communications
5. Establish brand partnerships

8. 10 Commandments
of Global Marketing
6. Balance standardization and customization
7. Balance global and local control
8. Establish operable guidelines
9. Implement a global brand-equity
measurement system
10.Leverage brand elements

9. There are five communication and
product adaptation strategies

11. Straight extension
Introduces the product in the foreign market
without any change

12. Product adaptation
Alters the product to meet local conditions
or preferences

13. Flexible manufacturing
Makes product adaptation easier to do so
on several levels

14. Levels of Product Adaptation
•Production of regional product versions
•Production of country versions
•Production of city versions
•Production of retailer versions