Global Product Policy Decisions: Developing New Products For Global Markets
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.
Volume (Year): 4 (2013)
Issue (Month): 3 (September)
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