Country-of-origin (COE) effect What countries are “cool” in these product categories? –Movies/Film –Video games –Furniture The mental associations consumers.

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Presentation transcript:

Country-of-origin (COE) effect What countries are “cool” in these product categories? –Movies/Film –Video games –Furniture The mental associations consumers make to the country with which a certain brand or class of products is associated.

Country-of-origin (COE) effect –Country stereotypes –broad stereotypes about certain products from certain countries –Ethnocentrism – national pride; affects acceptance of products from other countries –Level of economic development – industrialized nations = higher quality than developing nations. –Fads – attitudes toward specific products from specific countries drop in & out of style

Standardization : Attempts to standardize product characteristics as much as possible One brand, few modifications Why standardize? Economies of scale in production, distribution, advertising, etc. Other cost efficiencies; e.g., centralized management

Standardization: Regional One product/brand worldwide, but with adaptations for a particular geographic region. But some products resist global standardization; make adaptations for regional markets Europe, North and Latin America, Middle East, Africa, South-east Asia and the South Pacific

Product the sum of the physical and psychological satisfactions provided to the user (real benefits, perceived benefits) Product components model – adapt product components to meet foreign market requirements/needs A product is more than a physical item: It is a bundle of satisfactions (or utilities) that the buyer receives

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

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 relative advantage compared to existing products compatibility with norms product complexity ease of trialability benefit observability

Product Positioning Goal is to create a perception for the product that is relevant to the market: Yoplait USA – life enhancing, treat, women Yoplait Brazil - sweet snack for kids Yoplait Japan - “100% purity”