CONCEPT DEVELOPMENT – AN INTERNATIONAL CONTEXT Standardization: Benefits – cost savings in production and marketing, making markets more unified: economic.

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Presentation transcript:

CONCEPT DEVELOPMENT – AN INTERNATIONAL CONTEXT Standardization: Benefits – cost savings in production and marketing, making markets more unified: economic integration. Localizing: Catering to customers preferences, meeting demands of local distribution systems, and matching competitive offers.

Some companies are able through the use of computer aided design (CAD) to design their products so that they meet most standards and requirements around the world with minor modification on a country- by-country basis. Approaches to International Product Development: Modular Approach. Developing a range of product parts that can be used worldwide. The parts can be assembled into numerous product configurations. Core – Product Approach. Starts with the design of a mostly uniform core-product. Attachments are added to the core product to match local market needs. (see graph)

CONCEPT DEVELOPMENT The Object: To Move Closer Toward Standardization Rational: Want to learn about coffee What motivates consumers Data Collection: Data on Brands Prices in Each Country Attitude/Usage Data Preferences (segmentation) Data Analysis: A Conjoint Type Design Concept as Text Only Concept as Text & Graphics 259 Concepts (including positioning, sensory and descriptive elements) Were Generated. Each Concept has Contained Several Elements