Advantages of standardized product and advertising
- cost efficiency
- consistent brand image
- faster time to market
- global recognition and presence
Considerations when standardizing
- Price positioning
- Product distribution
- Push & Pull Promotion
- Marketing strategy
Price escalation
Price of product increases as it moves through different stages of the export process (production to distribution in international markets)
Price Positioning
- Government intervention
- Market Diversity
- Export Price Escalation
- Fluctuations in Currency
- Fixed vs Variable pricing
Common Marketing Orientation (internal to external)
Production concept
Product concept
Sale concept
Marketing concept
Social Marketing Concept
Production orientation
Efficiency, Quality, Capacity
Customer/ product orientation
Focus on customer needs in a particular market
Sales orientation
Global customers reasonably similar
Strategic Marketing orientation
Incremental product adaptations to satisfy local customers
Social marketing orientation
Preserve and enhance the well-being of all stakeholders
Common market segmentation
Geographic approach:
- countries
- regions
Consumer Approach:
- Global market
- Marketing-mix Adaptation (Maintain some variables such as promotion, branding, distribution and adapting others)
- Mass market vs niche market (Depending on the size of the market in a specific country compared to other)
