Product Development
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1. What should a company consider when attempting to develop a new product for a global market? Can you think of some new products that have failed? What do you believe were the causes of this failure? How would you have handled the product launch differently?
2. Why do services pose unique challenges for global marketers? How important are customer expectations regarding managing and maintaining service quality? How important a role does employee or staff satisfaction play in the management of service quality? Provide examples to support your answers.
3. What factors should be considered for price-setting in foreign markets? Which of these factors is the most important? Why? Why is adapting the price of a product to a foreign market important.
4. What else should companies consider when preparing for global product releases?
5. Thinking about your own buying habits for groceries, do you frequent the same store because you like it, or do you go where you know you will get the best deal that week? What influences your decision to go to a new store? Do you usually go back?
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This soluiton discussed product development within a company.
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1. What should a company consider when attempting to develop a new product for a global market? Can you think of some new products that have failed? What do you believe were the causes of this failure? How would you have handled the product launch differently?
A company should consider many possibilities when going globally for a different market that is different than their own. For example, the culture is quite different than that of the United States, so a person will need to adapt to the necessary changes. Each custom that takes place there is different because of how people are or are not actively involved in religious activities. Diversity is common, so some kind of training in order to remain sensitive to other peoples needs as much as possible. Language learning would benefit anyone involved as well.
I can think of Coca Cola who went in and used a different name, and ended up offending a plethora of people who were hurt by the brand before they were fully established as a company. The cause of the failure was the language and culture due to not understanding Chinese well enough. I would have done extensive research in order to ensure that each of my staff had a name for the company done properly without the possibility of facing non-market issues early in the business. This can prevent any future issues with anyone who wants to join the organization as well as get loyal customers through the entire marketing process. In the end, everyone benefits from it.
2. Why do services pose unique challenges for global marketers? How important are customer expectations regarding managing and maintaining service quality? How important a role does employee or staff satisfaction play in the management of service quality? Provide examples to support your ...
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