Question

In: Operations Management

Identify several products you think could be marketed in a variety of foreign markets with little...

Identify several products you think could be marketed in a variety of foreign markets with little customization (say 5 of them). Then identify 5 more products that clearly would require customization. What would need to be customized for each market?

Solutions

Expert Solution

5 Products that dont need customization :

1. Salt : Salt is the basinc commodity that is similar everywhere and the consumtion doesnot change with market.

2. Pencil : Pencils dont neec to be customized based on market . They are standard products.

3 Milk : Milk can be stadardized accross international market without customization

4 Medicine : Medicine dosage are prescribed in standard format based on the disease , they dont need customization for different markets

5 Packaged Waterbottle : They are not customized based of different market. They are packaged based on the Container size.

5 products that need customization :

1. Fast food : Fast food needs to be customized to the local taste of the geographical market.

2. Clothes : Clothes needs to be customized based on a lot of factors for each market e,g culture, weater , etc.

3. Paint : Paint needs to be customized to the market prefernces and the location , weather conditions of the market. There are several other factors for the same.

4 Books : Books are customized based on the market they are sold at. The paper quality, the printed language and is depended on the market they serve.

5. Electronics : Electronics are highly customized based on the geographical market they serve. The processor type, Charger voltage, wire , packaging , etc needs to be customized based on the market they are sold at.

keosha answered 3 months ago
Next > < Previous

Related Solutions

please explain in detail.....Identify several products you think could be marketed in a variety of foreign...
please explain in detail.....Identify several products you think could be marketed in a variety of foreign markets with little customization (say 5 of them). Then identify 5 more products that clearly would require customization. What would need to be customized for each market? Be specific and cite your sources.
Identify a product that you think you have paid either too little for or too much...
Identify a product that you think you have paid either too little for or too much for. Identify the pricing strategy you think the company is trying to implement (based on the assigned readings), and then evaluate the effectiveness of the strategy. Use at least two sources to justify your answer. (cannot be an electronic)
Identify a product that you think you have paid either too little for or too much...
Identify a product that you think you have paid either too little for or too much for. Identify the pricing strategy you think the company is trying to implement (based on the assigned reading) and evaluate the effectiveness of the strategy. Use at least two sources to justify your answer. You should also use outside research (at least two sources), evaluate the effectiveness of the strategy, and address the competitors response to the pricing decision.
Companies collect a wide variety of information about their foreign markets to decide in which countries...
Companies collect a wide variety of information about their foreign markets to decide in which countries to conduct business and which market segments in these markets they should target. What are the three major markets that exist in all foreign markets? Describe the markets and provide an example of each. For this discussion question, you must support your analysis with a peer-reviewed article.
Discuss how products can be adapted physically and culturally for foreign markets. Do you agree if...
Discuss how products can be adapted physically and culturally for foreign markets. Do you agree if the product sells in Morehead it will sell well in Berlin or Tokyo?
For this Final Project you are to identify four important, new economic challenges you think could...
For this Final Project you are to identify four important, new economic challenges you think could emerge during 2018 (these are up to you to select). Next, outline a course of action for successfully addressing each of them. The actions you propose should be based on what you have learned about economics from this course and other scholarly sources, not just opinion. The Project should be 8 - 10 pages long, in APA format, and make use of at least...
Your firm is considering producing a new variety of widget. You have already test marketed the...
Your firm is considering producing a new variety of widget. You have already test marketed the widgets at a cost of $90,000. You estimate sales will be $500,000 in the first year, $800,000 in the second year, $500,000 in the third year, and zero after three years. To produce the new widgets will require an investment in working capital at year 0 of $50,000. Net working capital will be 20% of sales in years 1 and 2. Labor, materials, and...
Your firm is considering producing a new variety of widget. You have already test marketed the...
Your firm is considering producing a new variety of widget. You have already test marketed the widgets at a cost of $90,000. You estimate sales will be $500,000 in the first year, $800,000 in the second year, $500,000 in the third year, and zero after three years. To produce the new widgets will require an investment in working capital at year 0 of $50,000. Net working capital will be 20% of sales in years 1 and 2. Labor, materials, and...
Explain the First Mover Advantage and the six modes of entry into foreign markets. Identify a...
Explain the First Mover Advantage and the six modes of entry into foreign markets. Identify a foreign market that you will be entering. What are the advantages and disadvantages of each? Identify the best market entry strategy that you will be using for the foreign market of your choice.
Marketing course Crocodile Cleansers, a small company in the southeast, markets a variety of cleaning products....
Marketing course Crocodile Cleansers, a small company in the southeast, markets a variety of cleaning products. Although the company competes with major national brands, it has had a strong local following, especially among the working class. One of its principal products is AbStain, a fabric stain remover available only in liquid form. The new product manager for Ab-Stain is Robert Whitney, who has worked at Crocodile Cleansers for four years. Robert began his career at Crocodile as assistant product manager...
ADVERTISEMENT
Subjects
ADVERTISEMENT
Latest Questions
ADVERTISEMENT