MKTG1064 session8 sem12018student.ppt

MKTG1064 session8 sem12018student.ppt - Slide 10.1 MKGT1064...

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Slide 10.1 Albaum et al ., International Marketing and Export Management , 8e © Gerald Albaum, Edwin Duerr, Alexander Josiassen 2017 MKGT1064 Global Marketing Products
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Slide 10.2 Albaum et al ., International Marketing and Export Management , 8e © Gerald Albaum, Edwin Duerr, Alexander Josiassen 2017 Learning Objectives Standardisation versus customisation of products internationally Understanding links between new products and culture International product strategies Multinational product diffusion Managing multinational product lines Strategies for overcoming product piracy International branding 2
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Slide 10.3 Albaum et al ., International Marketing and Export Management , 8e © Gerald Albaum, Edwin Duerr, Alexander Josiassen 2017 Where are our products made? Have a look at the labels on the products around you and see if you can find where they were made? Mobile phones Clothing Books What percentage of your ‘products’ were made in Australia? 3
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Slide 10.4 Albaum et al ., International Marketing and Export Management , 8e © Gerald Albaum, Edwin Duerr, Alexander Josiassen 2017 4
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Slide 10.5 Albaum et al ., International Marketing and Export Management , 8e © Gerald Albaum, Edwin Duerr, Alexander Josiassen 2017 What is a product? 5
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Slide 10.6 Albaum et al ., International Marketing and Export Management , 8e © Gerald Albaum, Edwin Duerr, Alexander Josiassen 2017 Products: Goods, Services, Ideas, Concepts 6
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Slide 10.7 Albaum et al ., International Marketing and Export Management , 8e © Gerald Albaum, Edwin Duerr, Alexander Josiassen 2017 Figure 10.1: Dimensions of a product
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Slide 10.8 Albaum et al ., International Marketing and Export Management , 8e © Gerald Albaum, Edwin Duerr, Alexander Josiassen 2017 Product Strategy What new products should be developed for international markets? What should be added, removed or modified? What brand names should be used? Packaging and service decisions? 8
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Slide 10.9 Albaum et al ., International Marketing and Export Management , 8e © Gerald Albaum, Edwin Duerr, Alexander Josiassen 2017 What happens when you don't have a strategy? Puffs marketed its tissues under that brand name in Germany even though "puff" is German slang for a brothel. Parker Pen, when expanding into Mexico, mistranslated "It won't leak in your pocket and embarrass you" into "It won't leak in your pocket and make you pregnant." Clairol launched a curling iron called "Mist Stick" in Germany even though "mist" is German slang for manure. 9
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Slide 10.10 Albaum et al ., International Marketing and Export Management , 8e © Gerald Albaum, Edwin Duerr, Alexander Josiassen 2017 Standardisation versus Customisation Should the company aim for a standardised or country-tailored product strategy? There are 5 common forces that favour a more standardised approach: 1. Common customer needs 2. Global customers 3. Economies of scale 4. Time to market 5. Regional market agreements 10
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Slide 10.11 Albaum et al ., International Marketing and Export Management , 8e © Gerald Albaum, Edwin Duerr, Alexander Josiassen 2017 Factors affecting International products Cultural
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