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Brand and Product Decision in Global Marketing (strategies alternatives in…
Brand and Product Decision in Global Marketing
local, international, and global brands
local
brands that achieved success in a single national market
international
offered in several markets in a particular region
global
have the same and similar image and positioning throughout the world
needs-based approach to product planning
maslow hierachy provides a useful framework for understanding how & why local product can extend beyond home country border
strategies alternatives in global marketing
product-communication extension (dual extension)
comapny pursuing this strategy sell the same product with virtually no adaptation
using same advertising and promotional appeals used domestically in two or more country market
Product extension-communication adaptation
product or brand extended to multiple country markets with some modification of the communication strategy
low cost implementation, because product itself unchanged, expenditure for R&D avoided
Product adaptation-communication extension
adapt the product to local use or preference
product-communication adaptation (dual adaptation)
both the product and one or more promotional elements are adapted for a particular country or region
new product in global marketing
identifying new-product ideas
discontinuous innovation
dynamically continuous innovation
continuous innovation
