Chapter 14 Discussion
This chapter generally discusses the factors that companies should consider when developing international product strategies. Global product strategies encompass all the decisions relating to the products and services offered by a company to international markets. The approach involves decisions on the type of products to be exported to the country markets, as well as decisions of product standardization and the development of new products. Learners were able to understand that the international product strategy is considered as the central focus of the strategy of the international marketing mix. Although standardization of products is necessary for international marketing, it should adapt to the specific preferences and tastes in reflection to the cultural requirements of the target market.
One concept that I was able to understand well in this chapter is product standardization. It is the process of ensuring consistency and uniformity of a product that is available in various markets. Goods are marketed to these countries without making any changes to them. In standardization, the product only undergoes superficial changes. Another concept that I understood is the factors that companies should consider when designing strategies for international product distribution. The international distribution consists of the relationships, processes, and attainment that companies put in place to ensure their products get into countries outside the home country. Unlike international commerce, international distribution is about wholesaling into new countries. The significant elements in this distribution are exclusive channel, intensive channel, and channel length. Ass these are discussed in detail in this chapter.
However, I was unable to grasp much on product advertising. Of course, it encompasses product promotion on the mass media. What I want the professor to expound on is what a company should look at before selecting an advertising platform.