Product decisions

14 important questions on Product decisions

Barriers of internationalisation when initating:

Insufficient resources, lack of connections, lack of access to distribution channels.

Barriers of internationalisation when in process:

Market risk, commercial risk, political risk

What is international marketing?

Consist of finding and satisfying global customers needs better than the competition and coordinating marketing activities within the constraints of the global environment.
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What are three categories of services?

  1. People processing
  2. Possession processing
  3. Information-based services

What is the definition of Cloud computing?

Cloud computing is a general term for anything that involves delivering hosted services over the internet. In cloud computing, the word cloud is used as a metaphor for ''the internet''.

What is the Country of origin

The country of origin (COO) of a product, typically communicated by the phrase ''made in (country)'' has a considarable influence of the quality perception of that product. (good or bad reputation)

What is the definition of brand equity

Brand equity is the premium a customer would pay for the branded product or service compared with an identical unbranded version of the same product/service.

Brand equity can be clustered into five categories:

  1. brand loyalty
  2. brand awareness
  3. perceived quality
  4. brand associations
  5. other proprietary brand assets

What is the definition of Sensory branding?

Normally brand communication involves just two senses - sight and hearing. Sensory branding involves all five senses, sight, hearing (sound), smell, touch and taste.

What is the largest commercial application for 3D-printing?

Rapid prototyping

Anderson (2006) advances two distinct but related ideas:

  1. Merchandise assortments are grwoing because when goods don't have to be displayed on the store shelves, physical and cost constrants on selection dissapear.
  2. online channels actually change the shape of the demand cure, because consumers value niche products geared to their particular interests more than they value products designed for mass appeal.

In deciding the product policy abroad,

It is important to decide what parts (product levels) should be standardized and what parts should be adapted to the local environment.

The products sold over electronic markets and the internet can be grouped into two categories:

  1. Physical products
  2. purely digital goods and services

By manufacturing locally on 3-D printers, (2):

  1. Enables firms to economically build totally customized products in small quantities
  2. also allows firms to profitably serve small market segments

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