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Global Product Policy Decisions: Developing New Products For Global Markets

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  • TANASE, George Cosmin

Abstract

For most companies, new products are the bread-and-butter of their growth strategy. Unfortunately, developing new products is a time-consuming and costly endeavor, with tremendous challenges. The new product development process becomes especially a major headache for multinational organizations that try to coordinate the process on a regional or sometimes even worldwide basis. The steps to be followed in the global new product development (NPD) process are by-and-large very similar to domestic marketing situations. A cornerstone of a global marketing mix program is the set of product policy decisions that multinational companies (MNCs) constantly need to formulate. The product policy questions that need to be tackled are various: What new products should be developed for what markets? What products should be added to, removed from, or modified for the product line in each of the countries in which the company operates? What brand names should be used? How should the product be packaged? serviced? and so forth.

Suggested Citation

  • TANASE, George Cosmin, 2013. "Global Product Policy Decisions: Developing New Products For Global Markets," Romanian Distribution Committee Magazine, Romanian Distribution Committee, vol. 4(3), pages 12-17, September.
  • Handle: RePEc:rdc:journl:v:4:y:2013:i:3:p:12-17
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    More about this item

    Keywords

    Adaptation; Core-product approach; Customization; Extension; Invention; Standardization; Product Characteristics; Communication Strategy;

    JEL classification:

    • L20 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - General
    • M31 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Marketing and Advertising - - - Marketing
    • O20 - Economic Development, Innovation, Technological Change, and Growth - - Development Planning and Policy - - - General

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