Describe low-to-middle income classified target market

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Reference no: EM133419348

Assignment:

Country: French company: Ford motor company

For this short paper, you will need to select a consumer product sold in the United States with a suggested retail value over $150. After reviewing the product, its design, and marketing positioning in the United States, propose two adaptations to the product to better meet the needs of a low- or low-to-middle income classified foreign economy (target market) of your choice (see World Bank for country classification).

Use the I-R framework to structure your submission's analysis and conclusions. Use your industry, firm, and country-level resources to illustrate your analysis with research data and examples about the levels of adaptation and localization necessary. Your submission should include the following:

I. Introduction

A. Identify and briefly describe your selected low- or low-to-middle income classified target market.

B. Describe the feature, benefits, and price point of the U.S. product.

C. Characterize the brand and product positioning within the U.S. market, providing your rationale.

II. Globalization versus Responsiveness: With respect to your product design and positioning, identify the industry and target market factors in favor of either globalization or responsiveness.

III. Target Market Challenges and Adaptations

A. Describe the product-related problems or challenges faced by consumers in the target market.

B. For the target market, describe at least two adaptations to the product's features and benefits to address the problems or challenges.

IV. Summary of Recommendation to the Company's CEO: Your response should include whether the benefits of local responsiveness outweigh its costs.

A. Describe the trade-offs (advantages and costs) within the I-R framework that your firm should understand before it considers adapting or creating a product for this market.

B. Describe how marketing, product development, and manufacturing can collaborate to maximize integration benefits while remaining responsive to the target market.

C. Describe how responsiveness might impact your product's time to launch, take-off, penetration, and diffusion.

Reference no: EM133419348

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