Ebook Global marketing (9/E): Part 2
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Ebook Global marketing (9/E): Part 2
PART FOURThe Global Marketing Mix10Brand and Product Decisions in Global MarketingMyMarketingLab"'o Improve Your Grade!Over 10 million students improv Ebook Global marketing (9/E): Part 2ved their results using the Pearson MyLabs.Visit mymktlab.com for simulations, tutorials, and end-of-chapter problems.CASE 10-1The Beatles Story, LiverpoolThe global music business IS a major Industry; annual global sales of recorded music are valued at over SIS billion. Worldwide interest in legend Ebook Global marketing (9/E): Part 2ary artists such as Elvis Presley and the Beatles has also led to growth in music-based visitor attractions and music tourism in the United States andEbook Global marketing (9/E): Part 2
the United Kingdom, two countries that are strongly associated with the music and entertainment industries. EMs Presley's home, the Graceland MansionPART FOURThe Global Marketing Mix10Brand and Product Decisions in Global MarketingMyMarketingLab"'o Improve Your Grade!Over 10 million students improv Ebook Global marketing (9/E): Part 2ctor^ Items from the Ives of the Fab Four in their hometown of Lhwpool. With other special exhibitions and learning-oriented programs, the place recetees a cro/rd of 300,Ebook Global marketing (9/E): Part 2
by album covers, such as the iconic crosswalk featured on the album cover of the Beatles' "Abbey Road" album. These consumers are buying Into world faPART FOURThe Global Marketing Mix10Brand and Product Decisions in Global MarketingMyMarketingLab"'o Improve Your Grade!Over 10 million students improv Ebook Global marketing (9/E): Part 2ical and cultural memories shared by millions of music fans worldwide.The growth and success of the global music industry illustrates the point that products are the most important part of a company's marketing offering. It IS the product, the brand, Its packaging, and the services supplied with the Ebook Global marketing (9/E): Part 2 product that together meet the needs of the consumer and offer the unique added value that the consumer is willing to pay for In Part 3, we studied tEbook Global marketing (9/E): Part 2
he topics that directly affect product decisions when an organization Is formulating a marketing strategy for globalmarkets Global marketing research PART FOURThe Global Marketing Mix10Brand and Product Decisions in Global MarketingMyMarketingLab"'o Improve Your Grade!Over 10 million students improv Ebook Global marketing (9/E): Part 2rstood so that appropriate product positioning can be developed Global marketers also have to make appropriate market entry and distribution decisions to ensure that their product IS fully available to the consumer. As we will see in Part 4. every element of the global marketing mix must support and Ebook Global marketing (9/E): Part 2 fit with the product. This chapter examines the mam aspects of global product and brand decisions. We begin with a review of product and brand concepEbook Global marketing (9/E): Part 2
ts, followed by a discussion of how produơs can be adapted to meet the needs of international markets. The guidelines for global brand leadership are PART FOURThe Global Marketing Mix10Brand and Product Decisions in Global MarketingMyMarketingLab"'o Improve Your Grade!Over 10 million students improv Ebook Global marketing (9/E): Part 2evelopment processes are discussed. Once you have read the chapter, turn to Case 10-1 at the end of the chapter to learn more about the branding and marketing of the Beatles Story. LiverpoolLEARNING OBJECTIVES1Review the bask product concepts that underlie a successful global marketing product strat Ebook Global marketing (9/E): Part 2egy.2Compare and contrast local products and brands, international produơs and brands, and global products and brands.3Explain how Maslow's needs hierEbook Global marketing (9/E): Part 2
archy helps global marketers understand the benefits sought by buyers in different parts of the world.4Outline the importance of "country of origin" aPART FOURThe Global Marketing Mix10Brand and Product Decisions in Global MarketingMyMarketingLab"'o Improve Your Grade!Over 10 million students improv Ebook Global marketing (9/E): Part 2 continuum and compare and contrast the different types of innovation.Basic Product ConceptsThe product p of the marketing mix is at the heart of the challenges and opportunities facing global companies today: Management must develop product and brand policies and strategics that arc sensitive to ma Ebook Global marketing (9/E): Part 2rket needs, competition, and the company's ambitions and resources on a global scale. Effective global marketing often entails finding a balance betweEbook Global marketing (9/E): Part 2
en the payoff from extensively adapting products and brands to local market preferences and the benefits that come from concentrating company resourcePART FOURThe Global Marketing Mix10Brand and Product Decisions in Global MarketingMyMarketingLab"'o Improve Your Grade!Over 10 million students improv Ebook Global marketing (9/E): Part 2tively create value for a buyer or user. A product’s tangible attributes can be assessed in physical terms, such as weight, dimensions, or materials used. Consider, for example, a flat-panel TV with an LCD screen that measures 42 inches across. The unit weighs 22 pounds, is 3 inches deep, features f Ebook Global marketing (9/E): Part 2our high-definition media interface (HDMI) connections, has a built-in tuner capable of receiving high-definition TV signals over the air, and deliverEbook Global marketing (9/E): Part 2
s a screen resolution of l()80p with a 120 Hz screen-refresh rate. These tangible, physical features and attributes translate into benefits that enhanPART FOURThe Global Marketing Mix10Brand and Product Decisions in Global MarketingMyMarketingLab"'o Improve Your Grade!Over 10 million students improv Ebook Global marketing (9/E): Part 2reat flexibility315316 PART 4 . THE GLOBAL MARKETING MIXin placing the set in a living room or home theater. Intangible product attributes, including the status associated with product ownership, a manufacturer's service commitment, and a brand's overall reputation or mystique, are also important. W Ebook Global marketing (9/E): Part 2hen shopping for a new TV, for example, many people want "the best": They want a TV loaded with features (tangible product elements), as well as one tEbook Global marketing (9/E): Part 2
hat is “cool" and makes a status statement (intangible product clement).Product TypesA frequently used framework for classifying products distinguishePART FOURThe Global Marketing Mix10Brand and Product Decisions in Global MarketingMyMarketingLab"'o Improve Your Grade!Over 10 million students improv Ebook Global marketing (9/E): Part 2dustrial goods, in turn, can l>e further classified on the basis of criteria such as buyer orientation. Buyer orientation is a composite measure of the amount of effort a customer expends, the level of risk associated with a purchase, and buyer involvement in the purchase. The buyer orientation fram Ebook Global marketing (9/E): Part 2ework includes such categories as convenience, preference, shopping, and specialty goods. Electronics products are often high-involvement purchases, aEbook Global marketing (9/E): Part 2
nd many shoppers will compare several brands before making a decision. Products can also be categorized in terms of their life span (durable, nondurabPART FOURThe Global Marketing Mix10Brand and Product Decisions in Global MarketingMyMarketingLab"'o Improve Your Grade!Over 10 million students improv Ebook Global marketing (9/E): Part 2goods. As these examples from the electronics industry suggest, traditional product classification frameworks are fully applicable to global marketing.Product WarrantiesA warranty can be an important clement of a product's value proposition. An express warranty is a written guarantee that assures th Ebook Global marketing (9/E): Part 2e buyer that he or she is getting what he or she has paid for or that provides recourse in case a product’s performance falls short of expectations. IEbook Global marketing (9/E): Part 2
n global marketing, warranties can be used as a competitive tool to position a company in a positive way. For example, in the late 1990s Hyundai MotorPART FOURThe Global Marketing Mix10Brand and Product Decisions in Global MarketingMyMarketingLab"'o Improve Your Grade!Over 10 million students improv Ebook Global marketing (9/E): Part 2nameplate's reliability. The company had made significant improvements in tl>e quality and reliability of its vehicles, but consumer perceptions of the brand had not kept pace with the changes. O'Neill instituted a 10-year. IW.OOO-mile warranty program that represents the most comprehensive coverage Ebook Global marketing (9/E): Part 2 in the auto industry. Concurrently. Hyundai launched several new vehicles and increased expenditures for advertising. The results have been impressivEbook Global marketing (9/E): Part 2
e: Hyundai's U.S. sales jumped from about 90.000 vehicles in 1998 to more than 500.000 vehicles in 2011. Hyundai has also overtaken Toyota as Europe'sPART FOURThe Global Marketing Mix10Brand and Product Decisions in Global MarketingMyMarketingLab"'o Improve Your Grade!Over 10 million students improv Ebook Global marketing (9/E): Part 2 consideration for products that are shipped to markets in far-flung corners of the world. The term consumer packaged goads applies to a wide variety of products whose packaging is designed to protect or contain the product during shipping, at retail locations, and at the point of use or consumption Ebook Global marketing (9/E): Part 2. "Eco-packaging" is a key issue today, and package designers must address environmental issues such as recycling, biodegradability, and sustainable fEbook Global marketing (9/E): Part 2
orestry.Packaging also serves important communication functions: Packages (and the labels attached to them) olfcr communication cues that provide consGọi ngay
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