UNIT III International Product Decisions Market Segmentation Product

UNIT III

International Product Decisions • • Market Segmentation Product Mix Decision Product Specification Positioning & Communications Decision

Product • A set tangible set of physical attributes assembled in an identifiable form Components & Levels of Product § Core Product(bicycle) § Tangible Product § Augmented Product( Additional Features)

Product Mix • Full list of all the products offered for sale by Company • Width, Depth & Consistency • Product Line

Product Life Cycle • • Introduction Growth Maturity Decline § Developed country & Developing country § Sales & Profit Curve § Export to increase total sales

New Product Development • Copying • Product Modification • Innovation

Steps in New Product Development • • Idea Generation Evaluation & Selection Concept Testing Business Analysis Product Development Market Testing Commercialisation

Brand • A Name, Term, Sign, Symbol, Design or Combination of them § § § BRANDING DECISIONS Whether to Brand or Not ? Manufacture’s Brand or Private Brand Same or Different Brand ( for Domestic & Foreign Market) Branding Problems in International Marketing Scope of Use of Indian Brands

Packaging & Labelling • Packing & Packaging Functions of Packaging § Protection § Preservation § Presentation

Factors Influencing Packaging Decisions • • Physical Characteristics Economy Convenience Regulations, Socio-Economic factors Environmental Factors Disposability Easy to handle, identify, examination

Product Strategies • Product Extension • Product Adaptation • Product Development

Product-Communication Strategies • Straight Extension • Product Extension, Communication Adaptation Strategy • Product Adaptation, Communications Extension Strategy • Dual Adaptation • Product Invention