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Published byRoderick Norton Modified over 6 years ago
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Marketing Innovations and Food Market: Lessons Learnt from Good International Practice
Elena Horska – Renata Matysik Pejas - Andrzej Krasnodębski – Monika Szafrańska
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Adaptation versus standardization
Marketing innovations: Lessons Learnt from the Good International Practice I. What to consider? Market environment Consumer needs and preferences People are living locally but they can be affected globally. LESSON I. Adaptation versus standardization (even glocalization)
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Adaptation versus standardization
Adapting the marketing features to the local requirements and consumer needs: Standardizated products for global markets and global customers which are the same in all the world (a world is one global village) Product Price Place Promotion
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Reasons for marketing abroad
Economies of scale and scope. Lucrative markets which do not exist at home, but which do exist abroad. Saturated markets at home. Response to incoming competitive activity.
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Changes in qualitative aspects and regional product
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Global products
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Lesson II: Global products are related to the newest market trends:
Health, fitness, wellness Convinience products Enjoyment marketing, experiences, having fun in consumption Country-of-origin/regional specialities Higher levels of Maslow hierarchy of needs Sustainable consumption, carboon foot print effect
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Lesson III. OREO – global product for local market
Global image Penetration to the local market Brand partnership in advertising Education Impact of children in the family decision making process Child as an opinion leader
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New family and living forms and marketing implications
Higher impact of children at decision making process Aging of the society (boomer´s aging and satisfying their diversified needs and wants) Living alone and consumer goods and food
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Local product for global market
Lesson IV external product features and marketing strategy redefinition
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Lesson V HOw to utilize strong, well known and acceptable product features at new product definition?
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Promoting global products locally Who will be the best V. I
Promoting global products locally Who will be the best V.I.P to represent our brand?
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Conclusions: Examples of good practice from international markets teach us that in marketing innovations we have several options: We have to consider local conditions, consumer needs and preferences We can relly on global trends We can use strong local features for a new product launch Innovation is here just to redefine or refresh existing marketing strategy and remind our customers Advertisement and sales promotion is here to attract majority of people that is why the selection of right V.I.P. is very important Marketing = process of education – keep in mind who is your target customer!
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