University:
Pennsylvania Western University, California
Course:
MKTG 3000 | Principles of Marketing
Academic year:

2023
Views:

284

Pages:

4
Author:

ilikemyicons0y5

Chapter 10 Product Adaptation Standardization versus Adaptation  A firm has four basic alternatives in approaching international markets: (1) Selling the product as is in the international marketplace (2) Modifying products for different countries and/or regions (3) Designing new products for foreign markets (4) Incorporating all the differences into one flexible product design and introducing a global product Product Variables  Products can be differentiated by their composition, country of origin, tangible features such as packaging or quality, or augmented features such as warranty.  Product standardization means that a product designed originally for a local market is exported to other countries with virtually no change, except perhaps for the translation of words and other cosmetic changes. e.g. Revlon, for example, used to ship successful products abroad without changes in product formulation, packing (without any translation, in some cases), and advertising. Exhibit 10.2 - Standardization versus Adaptation Factors encouraging standardization  Economies of scale in production  Economies in product R&D  Economies in marketing  “Shrinking” of the world marketplace/economic integration  Global competition Factors encouraging adaptation  Differing use conditions  Government and regulatory influences  Differing consumer behavior patterns  Local competition  True to the marketing concept