Reference no: EM133735634

Customizing Global Marketing - a matter of degree

Basic marketing principles as we learned in MRKT 310 such as segmentation, targeting, differentiation, positioning and marketing mix (product, price, place, and promotion) remain constants in any marketing situation -- that is why they are called principles. However, the application of those principles of marketing can vary from country to country. The more the product is global on the continuum the more standardized those marketing strategic decisions become.

Let's take the example of Dove Soap, a product which is considered a very popular good here in the U.S. It is a mass-marketed product. But, in some underdeveloped countries soap is considered an expensive luxury and therefore is marketed to middle income and higher-income consumers. On the other hand, Camry, a product that is almost 100 years old, is sold in the US as a soap for beautiful women, but it is sold in some underdeveloped countries as a product with significant skincare benefits, similar to expensive moisturizers in the US. So, those products have different target markets with different value propositions, different pricing structures, different marketing communications. Yet, it's the same product.

Question: Select a product you buy and use frequently, and make your best assessment of the product's target market, the way the manufacturer differentiates it, and how it is positioned in your home country. Explain how you would market the product in an underdeveloped country of your choice. You might want to look up some of the characteristics of the selected country for more information on that country. The link The World Factbook - The World Factbook (cia.gov) will take you to the CIA World Factbook, a good source of economic and political information about every country in the world.