This lecture is focused on product in international marketing. First, the general concept of product is explained, with the whole product model and the value of the product for customer. Strategies of product adaptation and standardization are explained. The differences of product life cycle in international environment are characterized. And the most common adaptation, the product packaging, is detailed.
International Marketing
Lecture 7 - Product
Product
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https://is.slu.cz/el/opf/leto2023/PEMNAMAM/um/IntMar7_Product.pptx
Task
Choose a product and try to apply the whole product model, assign values and guess the costs.
Do this task online and share the output with all of us.
10 minutes for the task, 10 minutes discussion about the results, on-line and on-site students take turns in presenting.
Task
Load Vevox app, choose which products are globalized, standardized or localized.
10 minutes for the task.
What biggest differences in packaging have you noticed in the
Czech Republic compared to your home
country?
Task
Continue the work on your seminar paper. Start the marketing mix block with details about product differentiation with teacher supervision (meaning I will be constantly checking on you working in class and will be available in Teams to guide you through the process).
Each team will be checked by me.
30 minutes for task, 10 minutes for evaluation.