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INTERNATIONAL PRODUCT PLANNING: STANDARDISATION vs. ADAPTATION

INTERNATIONAL PRODUCT PLANNING: STANDARDISATION vs. ADAPTATION. INTRODUCTION.

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INTERNATIONAL PRODUCT PLANNING: STANDARDISATION vs. ADAPTATION

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  1. INTERNATIONAL PRODUCT PLANNING: STANDARDISATION vs. ADAPTATION

  2. INTRODUCTION The success of any business depends upon the satisfaction of its customers. The commodity market consists of national and international markeys. Product planning is nacessary for any producer to bring and move its product in the market. A businss enterprise has to take decisions regarding product development, product development, product life cycle.

  3. MEANING OF PRODUCT A good, idea, method, information, object or service created as a result of a process and servesa need or satisfies a want. It has a combination of tangible and intangible attributes (benefits, features, functions, uses) that a seller offers a buyer for purchase. In marketing a good or service that most closely meets the requirements of a particular market and yields enough profit to justify its continued existence.

  4. DEFINITION OF PRODUCT “A product is a bundle of physical service and symbolic particulars expected to yield satisfaction or benefits to the buyer.” PHILIP KOTLER

  5. IMPORTANCE OF PRODUCT STARTING POINT OF PLANNING IS AN END CENTRAL POINT FOR ALL MARKETING ACTIVITIES EMPLOYMENT OPPORTUNITIES FROM BUYER’s POINT OF VIEW FROM SELLER’s POINT OF VIEW COMPETITIVE WEAPON FROM SOCIAL POINT OF VIEW

  6. LEVELS OF PRODUCT

  7. CLASSIFICATION OF PRODUCTS • TRADITIONAL PRODUCT CLASSIFICATION • INDUSTRIAL PRODUCT CLASSIFICATION

  8. TRADITIONAL PRODUCT CLASSIFICATION

  9. MODERN PRODUCT CHARACTERISTICS • REPLACEMENT RATE • GROSS MARGIN • ADJUSTMENT • CONSUMPTION TIME • SEARCHING TIME

  10. MODERN PRODUCT CLASSIFICATION

  11. PRODUCT ADAPTATION AND STRATEGIES Product adaptation is the process of modifying an existing product so it is suitable for different customers or markets. An adaptation strategy is particularly important for companies that export their products because it ensures that the product meets local cultural and regulatory requirements. Adaptation is also important for companies that want to introduce new products but do not have the funds or resources to develop completely new items.

  12. STANDARDISATION It is a process of establishing particular physical attributes and chemical composition against other items

  13. ADVANTAGES &DISADVANTAGES ADVANTAGES • Increase in sales • Easy marketing • Increase in goodwill • Less selling risk • Large scale production economies DISADVANTAGES • Technical factors • Legal factors • Buyer’s will • Resource environment • other factors

  14. PRODUCT PLANNING Product planning means all the activities to decide the product lines of the enterprise and product items to be included in these product lines.

  15. CHARACTERISTICS • Product investigation • Change in commodity according to demand • To know the practical aspect of the product • Discontinuance of product

  16. IMPORTANCE MEANS OF FULFILLING SOCIAL LIABILITY STARTING POINT OF MARKETING INDICATORS TO MANAGERIAL ABILITY COMPETITIVE TOOL WIDE SCOPE

  17. ELEMENTS OF PRODUCT PLANNING • Search of product • Development and Commercialization • Change in Product Line • Improvement in Products • Determination of Product capacity • Discontinuance of product • Determination of product price

  18. THANKYOU

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