 ‘Thinking local, acting local and managing local is the order of the day’  Stephen Brown 2005 You have to be local before you can be local Synergy between.

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Presentation transcript:

 ‘Thinking local, acting local and managing local is the order of the day’  Stephen Brown 2005 You have to be local before you can be local Synergy between global vision and local vision

Standardise your product for global markets Versus Adapt your product for local markets * What are the issues here?

 What are the benefits of standardisation?  Markets are still very different  Universlaism versus tribalism  Mass/global customisation  Costly if wrong

 Customisation meets consumer needs  The macro environment  Norms and regulations in countries  Marketing communications, channels of distribution, market positioning, etc  Cultural differences  Legal regulations  Market structure – substitutes and competition

 Universality  Multinational customers and competitors  Economies of scale and scope  Technological / investment intensity

Adaptation: Marketplace Factors Homologation - analyse product components Customer characteristics & culture Economic status of customers Stage of economic development Legal factors Climate & geography

 Core Component: Product Platform, design features, functional features  Packaging Components: Trademark, Brand name, price, quality, package, styling  Support Services Component: Repair & maintenance, installation, instructions, deliveries, warranty, spare parts etc..

3 Elements Of The Product Or Service (Kotler, 2002) The core product benefit or service BENEFITS Image Perceived Value Performance Quality ATTRIBUTES Brand name Features Size & colour variants After-sales service MARKETING SUPPORT SERVICES Guarantees Installation Delivery Design Packaging StandardisationAdaptation

Omar Shamshoon doesn’t: Drink Eat bacon Hang out in seedy bars with bums and lowlifes Duff Beer is now soda Hotdogs are BBQ Egyptian beef sausages Donuts are replaced with traditional Arabic cookies called kahk

 ess/presspage.aspx?id=200536

Adaptation:Company Factors Costs & profits Organisational issues & Resources Fit with portfolio

a. Straight Extension: Unilever Organics have successfully applied a straight extension worldwide b. Promotion Adaptation c. Product Adaptation: Exxon changed the chemical composition of petrol to cope with different climate extremities but kept the promotional mix the same. Coke in Spain d. Dual Adaptation: Kellogg’s Basmati Flakes – product & promotion were changed. e. Invention

 Trevor Bayliss - the Clockwork radio for Africa to help spread information regarding AIDS

Globalisation  Standardisation versus adaptation debate (& its variants) now outdated?  Question is now “what is the best way to segment, target, and serve customers?”

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