The first thing that an exporting company should ask itself is whether the product is exportable. A product which is successful in the home market, will not always be as successful in other markets. Remember, although globalisation is a reality, each market is different in its own way.
Therefore, only through market research will we find out if our product is viable or not.
Furthermore, we should look at what types of modifications we should carry out on the products in preparation for different markets.
Finally we should remember the lifelong question: is it a global product or will we have to localise it for each market?
In this unit you will learn the importance of adapting your product to local requirements when entering new export markets.
This will be achieved by:
- Examining the product adaptation options available to the exporter
- Outlining the concept of brand and positioning in foreign markets
- Analysing the product characteristics that typically need to be modified for different markets.