Product Marketing in the Global Marketplace
Globalization is transforming the way some products are
marketed internationally. Some companies implement a global strategy that uses
similar promotional messages and themes to market the same product around the
world. Those companies can reduce production and marketing costs by
standardizing the physical features of their products and marketing strategies.
Others find that their products require physical changes to suit the tastes of
consumers abroad. Consumers in different national markets demand products that
reflect their tastes; cultural, political, legal, and economic environments
affect consumer preferences and industrial buyers worldwide. Certain products
do appeal to practically all cultures. Product standardization is more likely
when nations share the same level of economic development.
Select three big mainstream products such as energy drinks,
clothing, or shoes. For the products you select, respond to the following:
– Outline the marketing and product development techniques
for each product.
– Discuss the differences between the marketing and
developing techniques for the three products.
– Discuss the impact of laws and regulations, cultural
differences, and push and pull strategies on the marketing and product
development of the three products.
