International Product Strategy

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Presentation transcript:

International Product Strategy New product introduction alternatives Product components Branding Diffusion of innovation (newness, characteristics, positioning)

Product the sum of the physical and psychological satisfactions provided to the user (real benefits, perceived benefits) cultural characteristics affect product perceptions country of origin effects may help or hinder acceptance

Product Component Model Core/Physical platform, design, functional features Psychological/Image brand quality package Support warranty, installation, instructions, repair/maintenance

Branding Global - one standardized brand worldwide; umbrella (corporate) branding (Kodak, Siemens, Virgin) National (Local) - a brand developed for one country, or a region (Pepsi Max - Britain, Bud - Germany). Private (store brand) - sell a product to a retailer, who resells as its own store brand (Kodak sells to Japanese Cooperative Union’s 2500 retail stores).

Diffusion of Innovation Goal: shorten lag time between introduction and product acceptance . Factors that affect the adoption rate of products in new markets: degree of perceived newness characteristics of innovations product positioning (method of communication)

Degree of Newness Continuous innovation - products that are familiar to a country, but with subtle changes (BBQ chips in Canada) Dynamically continuous innovation - product is familiar to a country, but in a new form (diet soft drinks in Japan, Britain) Discontinuous innovation - completely new to a country; may meet resistance (yogurt in U.S. 1970’s, ice cream in Korea 1990s)

Characteristics of New Product Introductions (Diffusion of Innovation Model) relative advantage compared to existing products compatibility with norms product complexity ease of trialability benefit observability

Product Positioning The place a product occupies in a consumer’s mind; consumer perception of the product. Goal is to create a perception for the product: Yoplait USA - “French,” “healthy” Yoplait Brazil - sweet snack for kids Yoplait Japan - “100% purity”