The international marketing environmental factors that. An empirical comparison of consumer and industrial products article pdf available in journal of product innovation management 171. We will focus on decisions about product attributes, branding, packaging, labeling, and product support services. So, we should care about the ethical issues of india while taking product decision. Factors affecting consumer preference of international brands. International pricing is often considered the most critical and complex issue in international marketing. The product quality is a factor to support purchasing decisions. Nov 07, 2012 product decisions in international marketing management includes market segment decision, positioning and communication decisions. Factors affecting consumer preference of international brands over local brands zeenat ismail1. Scribd is the worlds largest social reading and publishing site.
Paurav shukla 1 international product management dr. The influence of quality products, price, promotion, and. The primary one of the product line decisions is the product line length. Paurav shukla session objectives the importance of offering a product suitable for the intended market branding decisions physical, mandatory, and cultural requirements for product adaptation the need to view all attributes of a product in order to. Product standardization and adaptation in international marketing.
International pricing strategies strategic international. Estimate international market demand, marketing potential and market development index for an international market. Developing a product or service involves defining the benefits that it will offer. Individual product and service decisions customer relationships. Atmosphere of competition and the increasing demand by consumers led many companies seeking to realize his desire to produce a quality product quality that can compete in the market. International marketing decisions are same as domestic marketing. A suitably designed and managed operating system plays a key role in determining product and service quality, and productivity. International operations management is myriad of actions used by an international business to alter different kinds of resource inputs material, labour, and so forth into final goods and services. Strategic decisions definition and characteristics. The term product decision includes product strategy, product planning and product management. The international marketing environmental factors that affect global companies in their international marketing decisions published on may 10, 2016 may 10, 2016. Therefore, the quality is one of the most important individual product decisions. Product decisions free download as powerpoint presentation.
These can include the imposition of a global standardised product where it is inapplicable, for example large horsepower. Ch10 brand and product decisions in global marketing uw. In their effort to gather detailed information on the consumers needs, wants, preferences and expectations, marketers started developing information systems representing information support to global marketing management long ago. Decisions on a productline level important and complex decisions are also made at the product line level, which tend to determine the length of a companys product mix. All marketing decisions are based on assumptions and knowledge of consumer behaviour.
Product standardization and adaptation in international. Important product decisions in international marketing management are. Certainly, the product line is too short if the company could increase profits by adding items to it. Individual product decisions start by deciding on product attributes. Strategic decisions have major resource propositions for an organization. The basic product policy strategy issues at the product line level cluster around the following questions. The international marketing environmental factors that affect. It can be argued that product decisions are probably the most crucial as the product is the very epitome of marketing planning. A product is a combination of physical attributes say, size and shape. Decisions regarding the product, price, promotion and distribution channels are decisions on the elements of the marketing mix. The brand name and the graphic design are standardized in many countries, but the delivery conditions vary greatly. Factors affecting international marketing strategies. Although quality can be defined in many ways, we can define it as the characteristics of a product or service that determine its ability to satisfy the customer needs. Factors to consider for international marketing cleverism.
Product decisions or policy and strategy are concerned with the management of the products product portfolio and brand management. The important product decisions needed to be taken in global marketing management are as follows. Product decisions in international marketing management includes market segment. International product decisions international marketing. A case of mcdonalds i abstract companies marketing their products andor services overseas are faced with the decision of whether to standardize or adapt their product offerings. Not only can you tap into a world marketplace of 7 billion people, but according to business. Sep 02, 2015 in this article, we cover the topic of international marketing and explore 1 an introduction to international marketing, 2 factors to consider for international marketing and 3 a conclusion. Product line decisions building a strong product line.
Basics of international marketing mode of entry, product, positioning, pricing, and promotion biswajit nag indian institute of foreign trade new delhi. International product decisions international marketing lecture. International marketing exam notes marketing and marketing. Important product decisions in international marketing management. Important product decisions in international marketing. Basic concept a product can be defined as a collection of physical, service and symbolic attributes which yield satisfaction or benefits to a user or buyer. Product definition a product service is the most important component of the marketing mix being the centre of focus as the offer to the market.
Demonstrate international costbased pricing impact on consumer prices vs. Introduction to international marketing jet travel opened up the world to many people, and the expansion of the world wide web took that one step further. Market entry strategies assignment 4 students will form a group to develop a portfolio for a product service in a foreign country or area of their own choice on the issue of entry strategy. Thus, in stage one of the individual product decisions, we define the product. Development of global marketing decision support systems. Currency fluctuations, national and regional market regulations, cultural differences, global economic trends, and political differences all impact on how prices can. This, in turn, means that the development of a product starts by defining the benefits it will offer to consumers. International product decisions free download as powerpoint presentation. Strategic decisions are the decisions that are concerned with whole environment in which the firm operates, the entire resources and the people who form the company and the interface between the two.
An examination of factors that affect pricing decisions for export markets. So, to summarize, the final process for international product decisions includes the following steps. International product decisions, product components, global product. International marketing product lifecycle tutorialspoint. International marketing decision your article library. Product strategy involves the managerial decisions about the product mix and the positioning and communication. These benefits are communicated as well as delivered by the product attributes.
Product decisions in international marketing management includes market segment decision, positioning and communication decisions. Pdf an examination of factors that affect pricing decisions. May 10, 2016 the international marketing environmental factors that affect global companies in their international marketing decisions published on may 10, 2016 may 10, 2016 39 likes 3 comments. Decision making within international organizations. Journal of international business research and marketing. Part i the decision whether to internationalize 1 1 global marketing in the firm. Discuss product adaption and customization strategies for wellknow brands and companies.
International marketing exam notes marketing and marketing management marketing is an organizational function and a set of processes for creating, communicating, and delivering value to customers and for managing customer relationships in ways that benefit the organization and its stakeholders. Those firms planning to enter the global markets have to decide on following key. When talking about the price of a product, it is important to notice that it is a sum of all monetary and nonmonetary assets the customer has to spend in order to obtain the benefits it provides. Product mix decisions the range of products offered by a firm is a critical strategic decision that will determine how the firm and their brands compete in the marketplace and the overall positioning of the brand. Pricing decisions for a supply chain with refurbished products. At an international level, the highest market shares of store brands are reported in paper products, aluminium foil, plastic wrap and rubbish bags. A case of mcdonalds 1 1 introduction in the first chapter the authors present the general background to the study. Product decision making in global marketing management. More clearly, product, price, promotion, and distribution decisions are made for international buyers. Decision making within international organizations an overview of approaches and case studies paper for delivery at the european consortium for political research ecpr, 29th joint sessions of workshops, grenoble, france, 611 april 2001. India is a more cultural market, where a anti culture product will effects all of the goodwill of the company. One element of the product attributes is the quality of the product. At one end of the definitional spectrum, international business is. Aleksandar grubor global marketing decision support systems.
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