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CUEGIS Concepts and Product - Coggle Diagram
CUEGIS Concepts and Product
Innovation
Innovation is required for a business to survive in tough competition
Product innovation: Creating or developing new and existing products
Example: Electric vehicles in a market of fuel cars
Globalization
Worldwide movement toward economic, financial, trade and communications integration
International marketing allows businesses to get increased global brand recognition
Example of brands that have benefited from this:
Apple
Cocacola
Mc Donalds
Products
Strategy
When developing a brand, it is important to find a Unique Selling Point (USP). The
The USP is a feature of a product that makes different from other products in the market and what makes people want to buy the product.
Product strategy
Services tend to need added value to be competitive
Product portfolio
Necccesary prerequisites before the business can turn an investment into a profit for owners
BCG Matrix
Used for businesses to analyze their portfolio better
Culture
Ensure that businesses are glocalized
Practice of conducting business according to both local and global considerations
Example: Burger King making different special menus for different countries
Ethics
Focusing on ethics allows the company to have a better brand image
More people will be more interested to follow
