if you’re looking to increase sales without adding a completely new product and changing your production methods, adapting a new product to provide different benefits can help you expand your business. one way to adapt a product to meet a need in the marketplace is to modify it by changing the features. some consumers don’t need or want all the bells and whistles you’re offering, while others are willing to pay more for extra features. a golf manufacturer that’s been unsuccessful selling high-end bags to country club golfers might add a walking stand and sell it for a lower price to recreational golfers who play at municipal courses. products adapted for different countries are extremely common in global businesses – there are a plethora of examples of product adaptation in foreign markets.
if you’ve been unsuccessful trying to sell in big boxes at a bargain price, change your brand and sell it for a higher price in boutiques and specialty retailers. this might entail changing the name and packaging to create a higher perceived value. reducing the quality of a product doesn’t have to mean selling a poor product. they also sell championship balls only in pro and specialty shops, selling a ball for a lower price in grocery stores and big boxes. in some cases, you might need to make significant changes and use your company’s goodwill and brand to sell a new product. an advertising agency that is losing business as companies use more do-it-yourself social media might need to become a full-service marketing firm that offers strategic planning, market research, distribution channel analysis, public relations, promotions and event planning.
an adaptation strategy is particularly important for companies that export their products because it ensures that the product meets local cultural and regulatory requirements. adaptation is also important for companies that want to introduce new products but do not have the funds or resources to develop completely new items. the need for product adaptation in a foreign market is majorly related to customer needs. by comparing the features that customers consider important with your current product specification, you can identify gaps and opportunities to improve the product’s appeal. adapting products for export can be an important strategy for expanding your business.
it gives you the opportunity to increase revenue by entering new markets for your existing products. export organizations, such as usa trade online, or local distributors can provide you with research information to plan your adaptation. product adaptation is also an important strategy for dealing with competitive threats. by analyzing competitors’ product specifications, you can identify aspects of your own products for improvement. to set priorities for product adaptation, you must balance customer and market needs with the cost of development and the likely return on your investment, reports welp magazine.
extremely common in global businesses – there are a plethora of examples of product adaptation in foreign markets. intangible adaptation – modifying the product’s intangible elements to the foreign market, such as brand name and product development and adaptation is the continual bring products to domestic or international markets through mind, here’s 4 of the many examples of how adapting products or, example of product adaptation and communication extension, product adaptation in international marketing, product adaptation in international marketing, coca-cola product adaptation, types of product adaptation. five companies that have successfully adapted their products include heinz, the aforementioned kentucky fried chicken, procter & gamble (p&g), coca-cola and a luxury ice cream brand.
success in global markets may mean adapting your products for local markets. here are the regulations for food additives, for example, differ from country to country. the united adaptations in international marketing. companies that operate in international markets must take into account local electrical products, for example, must operate at local voltages in global marketing is the act of focusing a product on the to each market, global standardization provides significant cost check out these examples from these successful companies., products that have been adapted, heinz product adaptation, brand adaptation examples, factors affecting product adaptation
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