Product Policy and Adaption in International Markets

Topics: Marketing, Red tape, Market Pages: 2 (435 words) Published: June 16, 2012
Chapter 9
Product policy and adaption in international markets
Product variables
Standardisation verses adaption
* Marketers must consider environmental and sustainability issues when deciding on whether adaption is needed. * Below standardisation vs adaption
Factors encouraging standardisation| Factors encouraging adaption| Economies of scale in production| Differing use conditions| Economies in r&d| Government influence|
Economies in marketing| Differing consumer patterns|
Reduced world market place| Local competition|
Global competition| True to the marketing concept|

The market environment
* Governemtn regulations-often present the most stringent requirements. Some of the requirements may serve no purpose other than political. * Non tariff barriers- product standards, testing or approval procedures, subsides for local products, and bureaucratic red tape. * Customer characteristics, expectations and preference-

* Economic development-take into account the present stage of economic development in overseas markets. As country advances, buyers are in a better position to buy and demand more sophisticated products and product version. * Competitive offerings-monitoring competitorz product features, as well as determining what has to be dpone tpo meet, and be superior. * Climate and geography- usually have an effect on the total product offering: the product, tangible elements, aminly packaging and the argument features. Product characteristic

* Produt constituents-marketer must mnake sure the products do not contain ingrediants that might be in violation of legal requirements or religious or social customs. * Branding- term brand refers to a name, term, symbol, sign or design used by a firm to differenciate from competing firms or products. * Packaging-serves three main functions protection, promotion and user convieneince. * Appearance- adaption in product styling, colour, size and other...
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