Marketing bán hàng - Chapter 10: Product strategies: basic decisions & product planning

Chapter 10 Product Strategies: Basic Decisions & Product Planning Chapter Outline What Is a Product?New Product DevelopmentMarket SegmentationProduct AdoptionChapter Outline Theory of International Product Life Cycle- Stages and Characteristics- Validity of the IPLC- Marketing StrategiesProduct Standardization vs. Product Adaptation- Arguments for Standardization- Arguments for AdaptationChapter Outline A Move Toward World Product: International or National Product?Marketing of Services- Importance of Services- Types of Services- The Economic and Legal Environment - Marketing Mix and Adaptation- Market Entry StrategiesProduct a bundle of utilities or satisfactionBundling vs. unbundlingNew Product Development generation of new product ideasscreening of ideasbusiness analysisproduct developmenttest marketing full-scale commercialization Factors Influencing Product Adoption Relative advantage (+)Compatibility (+)Trialability/divisibility (+)Observability (+)Complexity (-)Price (-)Theory of International Product Life Cycle (IPLC)Stage 0--Local InnovationStage 1--Overseas InnovationStage 2--MaturityStage 3--Worldwide ImitationStage 4--ReversalProduct Standardization vs. Product Adaptation Arguments for Standardization- simplicity and cost- consistent company or product image - musical recordings and works of art - industry specifications - cultural universals Product Standardization vs. Product Adaptation Arguments for Adaptation- big-car syndrome- left-hand-drive syndrome Mandatory Product Modification Government regulations Electrical current standards Measurement systems Operating systems Optional Product Modification Physical distribution Local use conditions Climatic conditions Space constraint Consumer demographics as related to physical appearance Optional Product Modification User's habits Environmental characteristics Price Limiting product movement across national borders (gray marketing) Historical preference or local customs and culture International Product Strategies Standardized ProductDomestic product introduced internationally, with minor or no modificationEfficient but not effectiveLocalized Product- Domestic product adapted for foreign marketsProduct designed specifically for foreign marketsEffective but not efficientInternational Product Strategies Global Product- Product designed with international (not national) markets in mind- Product having universal features Product being adaptation-ready, when necessaryBoth efficient and effective