What are the three major components of a product?
1. Its core
- Product platform
- Design features
- Functional features
2. The packaging component
- Trade mark
- Brand name
- Price
- Quality
- Package
- Styling
3. The support services component
- Repair and maintenance
- Installation
- Instructions
- Other related services
- Deliveries
- Warranty
- Spare parts
The importance of each component, as well as the perceived component attributes are functions of culture. What may be desirable in one culture may be unimportant in another. A product is, in a large part, a cultural phenomenon; that is, culture determines the individual's perception of what a product is and what satisfaction that product provides.
Therefore, in developing products for international markets, adaptation of that bundle of utilities or satisfaction received may be necessary to bring the product in line with the culture's needs. Such adaptation may require changes of any one or all of the product components as defined above.
Learn More :
Product Decisions for International Markets
- What influences the market resistance towards a new product?
- What are the marketing objectives of using the product life cycle?
- How are products adapted physically and culturally in foreign markets?
- What are the steps to deciding on a product line when going international?
- What are the different promotional/product strategies available to an international marketer?
- How can different stages of the life cycle of a product influence the standardization/adaptation decision?
- What is the difference between a product and a brand?
- What is the issue of global vs adapted products for the international marketer?