TAILIEUCHUNG - Lecture Global marketing: Contemporary theory, practice, and cases – Chapter 10

Chapter 10 - Developing global products and brands. After reading the material in this chapter, you should be able to: The product life cycle across countries, standardization versus adaptation, product issues, product strategies in international markets, management orientation. | Chapter 10 – Developing Global Products and Brands “People ask me what has driven the resurgence of the Levi’s® brand and my answer is always: “product, product and more product.” Among all the initiatives we are pursuing to strengthen the company, creating great products is the most critical to our success.” John Anderson, President and CEO, Levi Strauss & Co. McGraw-Hill/Irwin Copyright © 2013 by The McGraw-Hill Companies, Inc. All rights reserved. Outline The Product Life Cycle Across Countries Standardization Versus Adaptation Benefits of standardization Challenges to standardization Product Issues Use Perception and Expected Benefits Attributes Regulations and Standards Aesthetics and Quality Packaging Brand Strategy Country of Origin Service Attributes Product Strategies in International Markets Management Orientation Summary 2 Reducing the Risk of Failure In order to reduce the risk of foreign market failure, companies must assess: Differences in product use Expected benefits Product and brand perception Preferences in style, color and design Examples: VW – Phaeton Costa Cruise Line Starbucks – China Product Life Cycle The course a product’s sales and profits takes over its lifetime, from its introduction to its final withdrawal from the market, is described by the product life cycle (PLC) which is divided into five different stages Product development stage Introduction phase Development phase Maturity phase Decline phase The Product Life Cycle Figure 10-1 The PLC Across Countries PLC can vary across countries Shape of PLC curve 3 Differences in diffusion process among countries that shape the PLC curve: Starting point Take-off point Acceptance rate The product’s position within the various life cycle phases In order to identify the phase occupied by a product/brand in the PLC, it is possible to analyze the market demand. PLCs of Different Countries for a Specific Product Figure 10-2 Product Life Cycle and Advertising across Different Countries Figure 10-4

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