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Chapter 11 Product Management and Global Brands

Chapter 11 Product Management and Global Brands. Product Variables. Product/service – Complex combination of tangible and intangible elements distinguishing it from others in the market Core product . Product Variables. Standardization versus adaptation

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Chapter 11 Product Management and Global Brands

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  1. Chapter 11 Product Management and Global Brands

  2. Product Variables • Product/service – Complex combination of tangible and intangible elements distinguishing it from others in the market • Core product

  3. Product Variables • Standardization versus adaptation • 4 basic alternatives for international markets • Product standardization is increasing

  4. The Market Environment • Government regulations • Nontariff barriers

  5. The Market Environment • Customer characteristics, expectations, and preferences • Positioning:

  6. The Market Environment • Economic development

  7. The Market Environment • Competitive offerings • Climate and geography

  8. Product Characteristics • Product constituents and content • Branding • Trademark - • Indicated by

  9. Product Characteristics • Packaging • Appearance • Quality • Country-of-origin effects

  10. Company Considerations • Product adaptation depends on the firm’s ability to: • Decision to adapt should be preceded by a thorough analysis of the market

  11. Global Product Development • Essential for catering to new or changing customer needs on a global basis • Build adaptability into products and product lines to achieve worldwide appeal

  12. Global Product Development • Stages of the product development process

  13. Global Product Development • Sources for idea generation • Company • Lead users: • Procurement requisitions from governments and supranational organizations

  14. Global Product Development • Open innovation: • Global companies have an advantage in being able to utilize resources from around the world

  15. Global Product Development • Computer aided design (CAD) allows

  16. Global Product Development • Time lag between product development and introduction into the market depends on:

  17. Global Product Development • Reasons for investing in R&D activities abroad

  18. Global Product Development • Center of excellence: • The set of capabilities have been identified as an important source of value creation

  19. Global Product Development • Organization of global product development • Product development activity is undertaken by specific teams to:

  20. Global Product Development • Representatives of all the affected functional areas serve on each team to ensure the integrity of the project • Multidisciplinary teams in an organization

  21. Global Product Development • Companies focus on reducing the language and cultural barriers among R&D teams • ___________ have been established to develop technologies ranging from artificial intelligence to those in semiconductor manufacturing

  22. Global Product Development • Testing of new product • Reasons for product failure

  23. Global Product Development • Market testing techniques • Controlled market tests: • Simulated test markets: • Vitality lab:

  24. Global Product Development • Global product launch • Measures undertaken for successful launches

  25. Global Product Development • Benefits of a successful global launch

  26. Managing the Brand Portfolio • Managing the brand portfolio • Brands help to:

  27. Managing the Brand Portfolio • Co-branding – • Global marketers have three choices of branding

  28. Managing the Brand Portfolio • Brand strategy decisions • Global brands: • Some are completely standardized, but some elements may be adapted to local conditions

  29. Managing the Brand Portfolio • Characteristics of global brands

  30. Managing the Brand Portfolio • Brand strategy decisions • Three main implications for the marketing manager to consider:

  31. Managing the Brand Portfolio • The SBU and general management establish a planning policy document with respect to:

  32. Managing the Brand Portfolio • Carefully crafted brand portfolios allow marketers to serve defined parts of specific markets • Before disposing a brand, managers need to assess it in terms of current sales, loyalty, potential, and trends

  33. Managing the Brand Portfolio • Private brand policies • Private brands: • Methods used for private branding:

  34. Product Counterfeiting • Counterfeit goods –

  35. Product Counterfeiting • Types of actions that can be taken against counterfeiting

  36. Product Counterfeiting • Companies are taking measures to help protect their products against counterfeits

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