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International Marketing

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International Marketing ­ MKT630
VU
Lesson # 40
INTERNATIONAL MARKETING MIX ­ PRODUCT POLICY
Packaging, Labeling and Warranties
Product packaging:
Product packaging is the art and science of creating boxes, covers, tubes, bags and other containers that
are sturdy enough to protect the product inside, and that are effective promotional pieces in themselves.
To a very large degree, the quality of design work on the package affects how well your products sell.
When shopping, you reach for products whose packaging is attractive and looks professional, and you
instinctively shy away from unattractively packaged products. The design of the container along with
the images, logos, marketing text, ingredients and fine print, all go into creating something people will
feel confident to buy. Therefore it is essential that packaging be of the highest quality so that it acts as
your in-store salesperson.
Issues in packaging in international markets:
International marketers need to take into account the following factors for deciding appropriate
packaging in various international markets;
·
changes in climates across countries
·
lengthy & difficult transportation
·
lengthy periods on shelves
·
varying sizes of packaging
·
different consumer preferences in packaging
·
some standardization needed to make the product recognizable
·
growing environmental consciousness
·
different types of channels of distribution
·
different cost pressures
·
environmental concerns
Issues in labeling:
International marketers also need to design appropriate labeling for various markets, to cater for the
market differences as well as to adhere to regulations. In the following are the list of issues marketers
face in labeling in international markets;
-
different languages of foreign markets
-
information details to be provided
-
instructions for use
-
different price or currencies
-
different promotions
-
consumer preferences in various markets (color, wording style etc..)
-
rules and regulations of foreign countries
Issues in warranty and service policies:
International marketers also face issues, whether to standardize or to localize warranty and service
policies in international markets. Factors favoring standardization or localization of warranty and
service policies in international markets are listed below;
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International Marketing ­ MKT630
VU
· Factors favoring standardization
presence of multinational customer
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goods purchased in one market but consumed elsewhere
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products affecting human health and safety
­
standardized products
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· Factors favoring localization
different competitive situation
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different quality levels in different markets
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different use conditions
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lack of international service network
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stronger guarantees when the company is entering in new market (marketing tactic)
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barriers to import of replacement parts and traveling of foreign staff
­
availability of human resources & ability of local distributors
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Strategies to cope with negative country of origin (COO) stereotypes:
Marketers of products from developing world often face negative attitudes from the customers in
developed countries. There are ways in which international marketers attempt to address this issue
though product policy, pricing, distribution and communication;
Product Policy:
-  Select a brand name that disguises the country of origin or even involves a favorable COO (Giordano
Bossini)
-  Sheer innovation & drive for superior quality also help firms to overcome COO biases in the long
run.
Pricing:
-  Selling the product at a relatively low price will attract value-conscious customers who are less
concerned about the brand's country of origin.
-  For product categories where price plays a signal of quality - high price may help.
Distribution:
-  Companies could influence consumer attitudes by using highly respected retailers.
Communication:
-  Firm can use communication strategy to
1. Improve the country image.
2. Bolster the brand image.
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Table of Contents:
  1. OVERVIEW OF INTERNATIONAL MARKETING:Domestic marketing, Multinational marketing, Globalization of markets
  2. INETRNATIONAL MARKETING PROCESS:Situation Analysis, Implementation and Control, Relationship
  3. INETRNATIONAL MARKETING PROCESS:The Product Concept, The Societal Marketing Concept
  4. INETRNATIONAL MARKETING PROCESS
  5. ENGAGING IN INETRNATIONAL MARKETS:Expansion of technology, Merchandize export and import
  6. INTERNATIONAL TRADE & INVESTMENT THEORIES:Theory of Comparative Advantage, Country Similarity Theory
  7. INTERNATIONAL TRADE & INVESTMENT THEORIES:Global Strategic Rivalry Theory,
  8. INTERNATIONAL MARKETING INFORMATION REQUIREMENTS:Foreign exchange info
  9. INTERNATIONAL MARKETING INFORMATION REQUIREMENTS:The Product
  10. FOREIGN NATIONAL ENVIRONMENTS:Political systems in the world, Political risks in international markets
  11. FOREIGN NATIONAL ENVIRONMENTS:Types of legal systems,
  12. FOREIGN NATIONAL ENVIRONMENTS:Conciliation, Mediation, Global relevance
  13. ROLE OF GOVERNMENTS IN INTERNATIONAL MARKETS:Industry-level needs, Promotion of exports by governments
  14. INTERNATIONAL CULTURAL AND SOCIAL ENVIRONMENTS:The concept of culture, Attitudes & beliefs,
  15. INTERNATIONAL CULTURAL AND SOCIAL ENVIRONMENTS:Culture is a human medium
  16. DETERMINING EXPORT POTENTIAL IN INTERNATIONAL MARKETS:Political Environment
  17. DETERMINING EXPORT POTENTIAL IN INTERNATIONAL MARKETS:Product Potential
  18. INTERNATIONAL MARKETING RESEARCH PROCESS:market structure, Implementing the research plan
  19. INTERNATIONAL MARKETING RESEARCH PROCESS:Identify alternative information sources
  20. INTERNATIONAL MARKETING RESEARCH PROCESS:Issues with primary global research:
  21. INTERNATIONAL MARKETING RESEARCH PROCESS:Problems with data, Comparative Analysis
  22. MODES OF ENTRY INTO INTERNATIONAL MARKETS:Export intermediaries, Export and import management
  23. MODES OF ENTRY INTO INTERNATIONAL MARKETS:Licensing contract, Licensing risks
  24. MODES OF ENTRY INTO INTERNATIONAL MARKETS:The franchiser’s balance,
  25. MODES OF ENTRY INTO INTERNATIONAL MARKETS:Forms of countertrade, Specialized entry modes
  26. MODES OF ENTRY INTO INTERNATIONAL MARKETS:Demand factors, Political factors
  27. MODES OF ENTRY INTO INTERNATIONAL MARKETS:Drivers behind successful joint ventures
  28. MODES OF ENTRY INTO INTERNATIONAL MARKETS:Distribution agreements, Critical mass & optimism traps
  29. INTERNATIONAL STRATEGIC ALLIANCES:Impetus for international alliances, Management of strategic alliances
  30. INTERNATIONAL CONSUMER MARKETS:Model of Consumer BehaviorThe Buyer Decision Process
  31. INTERNATIONAL BUSINESS MARKETS:Nature of buying unit, Major influences on international business buyers
  32. INTERNATIONAL TARGET MARKETING:Market segmentation, Market positioning
  33. INTERNATIONAL MARKET SEGMENTATION:Geographic, Behavioral, Situational factors
  34. INTERNATIONAL MARKET SEGMENTATION:Basis for country segmentation, Stages of economics development
  35. INTERNATIONAL MARKET SEGMENTATION:Cultural Variables,
  36. INTERNATIONAL MARKET SEGMENTATION:Market coverage strategy, Socio-economic variables
  37. INTERNATIONAL MARKETING MIX - PRODUCT POLICY:Individual product decisions, Branding
  38. INTERNATIONAL MARKETING MIX – PRODUCT POLICY:
  39. INTERNATIONAL MARKETING MIX - PRODUCT POLICY:Modular Approach
  40. INTERNATIONAL MARKETING MIX – PRODUCT POLICY:Issues in labeling, Pricing, Distribution
  41. INTRODUCING NEW PRODUCTS IN INTERNATIONAL MARKETS:The new product development process
  42. PRICING IN INTERNATIONAL MARKETS:Factors influencing international pricing,
  43. ITERNATIONAL MARKETING CHANNELS:Channel membership, Vertical marketing, Control over distribution
  44. PROMOTING IN INTERNATIONAL MARKETS:Advertising, Direct marketing, Public Relationing
  45. REVISION