Week 15-17 Flashcards
(19 cards)
The core of a firm’s international operations is a product or service.
PRODUCT VARIABLES
This can be defined as the complex combination of tangible and intangible elements that distinguishes it from the other entities in the marketplace.
PRODUCT VARIABLES
The firm’s success depends on how good its product or service is and on how well the firm is able to differentiate the product from the offerings of competitors.
PRODUCT VARIABLES
The core of a firm’s international operations is a _____
product or service.
LEVELS OF PRODUCT
Core Customer Value
Actual Product
Augmented Product
Actual Product
Brand name
Quality level
Packaging
Design
Features
Augmented Product
Delivery and credit
Product Support
Warranty
After-sale Service
THE MARKET ENVIRONMENT
Government Regulations
Non-tariff Barriers
Consumer Characteristics
Economic Development
Competitive Offerings
Climate and Geography
are the inherent features of the product offering, whether actual or perceived
PRODUCT CHARACTERISTICS
The inherent characteristics of products and the benefits they provide to consumers in the various markets make certain products good candidates for standardization, others not.
PRODUCT CHARACTERISTICS
2 CONSUMER GOODS
NON-DURABLE GOODS
DURABLE GOODS
(such as food products, generally show the highest amount of sensitivity toward differences in national tastes and habits)
NON-DURABLE GOODS
are consumed in less than three years, are commonly used one time, and include packaged food and drinks or laundry detergent.
NON-DURABLE GOODS
(such as cameras and home electronics, are subject to far more homogeneous demand and more predictable adjustment)
DURABLE GOODS
are consumer goods that have a lifespan of over three years and are used repeatedly over time.
DURABLE GOODS
PRODUCT CHARACTERISTICS
Product Constituents and Content
Branding
Packaging
Appearance
Methods of Operation or Usage
Quality
Service
Country-of-Origin Effect also known as made in image
are any goods bearing an unauthorized representation of a trademark, patented invention, or copyrighted work that is legally protected in the country where it is marketed
Counterfeit goods / PRODUCT COUNTERFEITING
The practice of product counterfeiting has spread to high-technology products and services.
PRODUCT COUNTERFEITING
