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Putri Wulan (1606952124)
Raminda Adiati (1606952181)
New Product Development
Closing Case
Kodak in Russia
Question 1
Question 3
A product can be viewed as a bundle of attributes
Yes, they should slightly adjust their marketing mix. For most of the strategies the company took for the film cameras will be successful if implemented into the digital camera marketing.
However, some parts may need adjusting. One of them is the advertisement messages. Considering that the Russian PC market is in the top 5 in the world, they should focus on educating the customers on the simplicity of digital products and how much more convenient it is compared to traditional cameras.
Also the company should adjust its distribution channel so that it is better equipped with digital products.
Question 2
If consumer needs were the same the world over, a firm could simply sell the same product worldwide
What Kodak did:
The Location of R&D
Integrating R&D, Marketing, and Production
Cross-Functional Teams
To reduce the failure of a new product development, the efforts should involve dose coordination between R&D, marketing, and production
With other things being equal, the rate of new-product development seems to be greater in countries where:
Effective cross functional teams should:
Tight cross-functional integration can ensure that:
YES, we do think this was the right thing to do
Differences Between Countries
Cultural Differences
Economic Development
Product and Technical Standards
Distribution Strategy, the means it chooses for delivering the product to the consumer.
Countries differ along a whole range of dimensions, including:
Global Advertising
Makes sense when:
Push and Pull Strategy
Doesn't make sense when:
A pull strategy emphasizes mass media advertising
A push strategy emphasizes personal selling
The choice between the strategies depend on:
While the world is moving towards global markets, cultural and economic differences among nations limit any trend toward global consumer tastes and preferences
A firm's communication strategy is partly defined by its choice of channel.
Identifying distinct groups of consumers whose purchasing behavior differs from others in important ways
Direct Selling
Sales Promotion
In addition, trade barriers and differences in product and technical standards also limit a firm's ability to sell a standardized product to a global market
Geography
Demography
Psychological Factors
Socio-Cultural Factors
Direct Marketing
Advertising
Barriers to International Communication
The effectiveness of a firm's international communication can be jeopardized by:
Pricing Strategy
3 issues to consider:
Price Discrimination
Strategic Pricing
Regulatory Influences on Prices
The use of either price discrimination or strategic pricing may be limited by national or international regulation
Multi-point Pricing
A firm's pricing strategy in one market may have an impact on a rival's pricing strategy in another market
Experience Curve Pricing
Build global sales volume as rapidly as possible, even if this means taking large losses initially
Occurs when firms charge consumers in different countries different prices for the same product.
Can work if:
Predatory Pricing
Using the profit gained in one market to support aggresive pricing designed to drive competitors out in another market
A firm's ability to set its own prices may be limited by antidumping regulations and competition policy.
Elastic and Inelastic Demand Curve