To what extent must the company adapt its products and marketing program to each foreign country
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Transcript of To what extent must the company adapt its products and marketing program to each foreign country
To what extent
must the company
adapt its products
and marketing
program to each
foreign country ?
By Mausumi Mohanta
International companies decide
how much to adapt their
marketing strategy to local
conditions as follows
1) Standardized marketing program
worldwide
2) An adapted marketing program with
a marketing to each target group.
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
Adaptable Marketing Concepts
for Global Marketing
• Product features
• Labeling
• Colors
• Materials
• Sales promotion
• Advertising media
• Brand name
• Packaging
• Advertising execution
• Prices
• Advertising themes
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
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
Levels of Product Adaptation
•Production of regional product versions
•Production of country versions
•Production of city versions
•Production of retailer versions