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International Product and Service Marketing

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International Product and Service Marketing

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- Challenges

- Determining what products and services

- Standardization

- Packaging and labeling

- Customs, values, laws

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Product Decisions and Social Responsibility

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Product Decisions and Social Responsibility

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developing and dropping products, patents, quality, and safety

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•Market modifying: increase consumption

•Product modifying:

•Marketing mix modifying: changes one or more of the marketing mix elements.

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decline or level off for an extended time, creating a weak product.

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- a long-lasting stage
- gained consumer

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the new product satisfies the market.

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the new product is first launched.

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•Product development:

•Introduction:

•Growth:

•Maturity:

•Decline:

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•Style: basic and distinctive

•Fashion: popular

•Fads: Temporary

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•Product class: longest, in the mature state

•Product form: have the standard PLC shape: introduction, rapid growth, maturity, and decline

•Brand: have changing PLCs due to competitive threats.

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• collects, reviews, evaluates, and manages new-product ideas.

• Creates an innovation-oriented culture

• Yields a large number of new-product ideas

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- work closely together, overlapping, increase effectiveness.
- increase tension, confusion
- faster and more flexible

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finding new ways to solve customer problems and create more customer satisfying experiences

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•is the introduction of the new product

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- create and note
- measure of trial and the effectiveness
- less expensive than others
- faster
- restricts access by competitors
- NOT considered as reliable and accurate

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- Less expensive and faster than standard test markets
- Competitors gain access

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- Small representative, conducts a full
- Audits, surveys, measures to gauge
- Results: forecast, discover, fine-tune
- Challenges: cost, time, competitors gain access,..

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•Standard

•Controlled

•Simulated

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- introduced into more realistic marketing settings.
- provides the experience in testing the product

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creation and testing

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Review and Projections

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Part 1:

•Description of the target market

•Product positioning, sales, market share, and profit goals

Part 2:

•Price distribution and budget

Part 3:

•Long-term sales, profit goals, and marketing mix strategy

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initial marketing strategy for introducing the product

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new-product concepts with groups of target consumers

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an actual or potential product.

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a detailed version of the idea stated in meaningful

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is an idea for a possible product

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reviewing new-product ideas in order to drop poor

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sources outside the company such as customers, competitors, distributors, suppliers, and outside design firms

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company’s own formal research and development, management and staff, and intrapreneurial programs

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is the systematic search for new product ideas.

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Idea Generation

Idea Screening

Concept development and Testing

Marketing strategy development

Business analysis

Product development

Test marketing

Commercialization

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From original, improvements, modifications, and new brands

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the buying... someone else’s product

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Additional Product and Service Considerations

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Additional Product and Service Considerations

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- the course that a product’s sales and profits take over its lifetime.

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•Customer-centered

•Team-centered

•Systematic