To what extent must the company must adopt its productsand marketing program to each foreign country
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To what extent must the company must adopt its productsand marketing program to each foreign country
- 2. ADAPTATION :
- 4. Cultural differences that differentiate countries : • Individualism versus collectivism • High versus low power distance • Masculine versus Feminine • Weak strong uncertainty avoidance Global Similarities and Differences1.
- 8. Straight Extension introduces the product in the foreign market without any change. Tempting because it requires R&D expense, manufacturing retooling, or promotional modification. Product Adaptation alters the product to meet local conditions or preferences. Flexible manufacturing makes it easier to do so on several levels viz. regional version, country version, city version, retailer version.
- 10. Levi Strauss Adapts to China
- 12. Price Escalation : Companies have three choices for setting prices in different countries: • Set a uniform price everywhere • Set a market-based price in each country • Set a cost-based price in each county Global Pricing Strategy4.
- 13. A Grey market (sometimes called a parallel import, but this can also mean other things; not to be confused with a black market or a grey economy) is the trade of a commodity through distribution channels which are legal but are unofficial, unauthorized, or unintended by the original manufacturer.