What is Product Strategies?

Product Strategies:

The product is one of the most significant elements of a marketing program. A company is generally called by the products it gives in the market. Into the global market place, companies require to develop products that meet global standards. Conversely, product features and characteristics can be customized depending upon the needs of a local market. Once the brand value of a product is developed, similar kind of positioning and marketing efforts can be utilized during the global market. Product process design must also take in consideration the legal restrictions of local markets. For examples: Himalaya Drug company entered the US market into 1996 year with products modified to suit local requirements. This sold different products within the US market as like a daily health and laxative syrup, digestive capsules and antiseptic cream.