From the course: International Marketing Foundations
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Product adaptation and development
From the course: International Marketing Foundations
Product adaptation and development
- As you learn more about the new market where you plan to enter, your analysis of the competitive offerings and what the consumers want in those markets may lead to product adaptation and refinement of your offerings. But not all product adaptations require new formulations or recipe changes. There are changes made to consumer packaged goods, as well. In the US, it's not uncommon for customers to buy a shampoo in bottles ranging from 12 to 24 ounces. However, in developing markets, consumers may not have enough cash to buy enough shampoo to last three months. And the local retail outlet may not have enough shelf space to carry big bottles either. So some companies use product adaptation efforts to focus on smaller packaging options that enable them to make similar margins, while addressing the retail constraints. Some companies have found their best opportunity is to develop completely new products to enter new…
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