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Product Components for Adaptation

Welcome to class of Products by Dr. Satyendra Singh Professor, Marketing and International Business University of Winnipeg Canada s.singh@uwinnipeg.ca https://abem.uwinnipeg.ca https://www.abem.ca/conference. Product Components for Adaptation. Product Component for Adaptation.

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Product Components for Adaptation

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  1. Welcome to class of ProductsbyDr. Satyendra SinghProfessor, Marketing and International BusinessUniversity of WinnipegCanadas.singh@uwinnipeg.cahttps://abem.uwinnipeg.cahttps://www.abem.ca/conference

  2. Product Components for Adaptation

  3. Product Component for Adaptation • Core Component (Intrinsic) • Product platform (LHS driving, voltage, metric system) • Design Features (size problem EU/USA), Fish/rice b/fast in Japan; fruits… • Functional Features (KFC as American…) • Augmented Product Component (Features) • Packaging  High humidity, reuse of containers, more than one language requirements, font size, country-of-origin requirements, color compatible with culture, retail price must be shown. • Support Services Component (increase life) • Repair and Maintenance • Instruction Manuals characters • Installation instructions audio

  4. Products • Consumer Goods/services • Large and small firms • Durable goods (cars, fridge, computer…) • Non-durables (foods, drugs, toys…) • Industrial Goods/services • Large firms • Few buyers; they act in synch • Driven demand (depends on source) swings market • High volatility • To Reduce Volatility • Broad product line • Spread risks across several markets • Demand is difficult to predict

  5. Franck Muller: Master of Complications

  6. 900 parts in luxury versus 90 in ordinary, or 0 in electronic watch

  7. Factors Driving Int’l. Demand… • Technology • Demand latest technology to expand industrial base • Build/upgrade infrastructure (e.g., tel. Firms, ATMs, ) • Demand for cars, toys, DVDs… • Demand , competition  • Industrial Products • GDP  • Industrialization • Product Quality • Value (cost/quality) • Better quality at competitive price • Phones with roaming feature • Define quality

  8. Factors Driving Int’l. Demand… • Definition of Quality • Market perceived quality (tourist, emotion, linking…) • Performance Quality (technical – saving in power) • Price-quality relationship • Specification (Europeans—exact vs. Americans—more screws/more capacity than stated) • Maintain standards • Universal Standards • FPS/MKS (metric system in EU) • Different sizes– shoes, cloths • North American Industry Classification System (NAICS—6 digit) • Standard Industrial Classification (SIC—4 digit) • ISO 9000/14001 (Environment)/18001 (Health)

  9. Factors Driving Int’l. Demand • Green Marketing • Demand for environmentally products • Follow guidelines for Eco-labeling (e.g., detergent should be biodegradable and non-polluting) • Systems to control solid waste • EU requires all packaging material to be recycled • Use of Eco-logo • 3BL  customers interest in process

  10. Universal Standards

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