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• The uniqueness of product in the marketing mix is

that all the other elements of the marketing mix, viz., 
price promotion and place are designed to 
achieve successful exchange of the product for 
consumer satisfaction and income. If the product 
fails to satisfy the consumer, any amount of effort to 
boost the sales will not long term success.

• A product is defined as anything that can be

offered to a market for attention, acquisition, use or 
consumption that might satisfy a want or need 
includes physical objects, services, person, places 
organizations and ideas. 
 
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4. Positioning and communication decisions.

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• The international product lifecycle (IPL) is an

abstract model briefing how a company evolves 
over time and across national borders. This theory 
shows the development of a company‟s marketing 
program on both domestic and foreign platforms.

• The marketing strategy of a company is responsible

for inventing or innovating any new product or 
idea. These elements are classified based on the 
product‟s stage in the traditional product lifecycle. 
These stages are introduction, growth, maturity, 
saturation, and decline. 
 
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• The Product Life Cycle Theory is an economic theory that was

developed by Raymond Vernon to explain the observed pattern 
of international trade.

• The cycle always begins with the introduction of a new product.

In this stage a corporation in a developed country will innovate a 
new product. The market for this product will be small and sales 
will be relatively low as a result. Vernon deduced that innovative 
products are more likely to be created in a developed nation 
because the buoyant economy means that people have more 
disposable income to use on new products.

• To offset the impact of low sales, corporations will keep the

manufacture of the product local, so that as process issues arise 
or a need to modify the product in its infancy stage presents itself, 
changes can be implemented without too much risk and without 
wasting time.

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• As sales increase, corporations may start to export the product out to other

developed nations to increase sales and revenue. It‟s a straightforward step 
towards the internationalization of a product because the appetites of people 
within developed nations tends to be quite similar.

• When the product has firmly established demand in developed countries, the

manufacturer of the product will need to consider opening up production 
plants locally in each developed country to meet the demand. As the product 
is being produced locally, labor costs and export and costs will decrease 
thereby reducing the unit cost and increasing revenue. Product development 
can still occur at this point as there is still room to adapt and modify the 
product if needed. Appetites for the product in developed nations will 
continue to increase in this stage.

• Although the unit costs have decreased due to the decision to produce the

product locally, the manufacture of the product will still require a highly skilled 
labor force. Local competition to offer alternatives start to form. The increased 
product exposure begins to reach the countries that have a less developed 
economy, and demand from these nations start to grow. 
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• Exports to nations with a less developed economy begin in earnest.

Competitive product offers saturate the market which means that the original 
producer of the product loses their competitive edge on the basis of 
innovation. In response to this, rather than continuing to add new features to 
the product, the corporation focuses on driving down the cost of the process 
to manufacture the product. They do this by moving production to nations 
where the average income is much lower and standardizing and streamlining 
the manufacturing methods needed to make the product.

• The local workforce in lower income nations are then exposed to the

technology and methods to make the product and competitors begin to rise 
as they did in developed nations previously. Meanwhile, demand in the 
original nation where the product came from begins to decline and eventually 
dwindles as a new product grabs the attention of the people. The market for 
the product is now completely saturated and the multinational corporation 
leaves the manufacture of the product in low income countries and instead, 
focuses its attention on new product development as it bows gracefully out of 
the market.

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o Brand or
ot to Brand
Manufacturer's
Brand or
Private Brand
Same Branc
or Differen
Brands

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It is very difficult for a small firm to promote its brand in foreign

markets because of the heavy cost of brand promotion.

Established foreign importers and distributors discourage use of

exporter‟s brand because they prefer to sell the products 
under their own brand name.

The cultural and other factors make branding decision

Some MNCs, when they wanted to market their products in

some countries, found that their world renowned brands have 
been registered in these countries by somebody else with the 
result that these firms had to pay a fee to the registered 
holders of these brands in these countries for permission to use 
these brands.

Sometimes, in some countries, there are restrictions on use of

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• Packaging means the wrapping or bottling of products to make

them safe from damages during transportation and storage. It 
keeps a product safe and marketable and helps in identifying, 
describing, and promoting the product.

• Packing means packing or wrapping goods to look attractive as

well as secure safety i.e., (a) holding together the contents (b) 
protecting product while passing through distribution channels. 
Again packaging refers to “all the activities involved in designing 
and producing the container or wrapper for a product” 
(Stanton).

• Recently, term packaging is being used interchangeably to

mean both „packing‟ proper as well as „packaging‟. Traditionally, 
„packaging‟ referred to retail or consumer container and 
„packing‟ to transport container. Consumer packaging has 
significant marketing implications while transport containers are 
more important from logistics standpoint.

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Transport Packaging Protection during Transit

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• Labeling is a part of branding and enables product

identification. It is a printed information that is bonded to the 
product for recognition and provides detailed information 
about the product. Customers make the decision easily at the 
point of purchase seeing the labeling of the product.

• Many countries have laid down labeling requirements in

respect of a number of commodities. According to the 
regulations in many countries, labeling of food items should 
disclose information about a number of aspects like date of 
manufacturing, 
expiry 
date, 
optimum 
storage 
period,

• In some countries labeling of some products like cigarettes

should include a statutory warning that smoking is injurious to 
health.

• Many countries insist that labeling should be done in the

INTERNATIONAL MARKETING Paper- DSE/604(A) (MM) SEM VI- BBA Unit 4- International Product Decisions

RA N CH I         INTERNATIONAL MARKETING

avatar

PRODUCT LINE    WIDTH    PRODUCT LINE    DEPTH    PRODUCT LINE  CONSISTENCY

PRODUCT LIFE CYCLE    INTRODUCTION    GROWTH    MATURITY    DECLINE

PRODUCT STRATEGIES    PRODUCT  EXTENSION    PRODUCT    ADAPTATION    PRODUCT    DEVELOPMENT

COMMUNICATION    ADAPTATION    STRATEGY    PRODUCT    ADAPTATION

COMMUNICATION    EXTENSION  STRATEGY    DUAL ADAPTATION    PRODUCT  INVENTION    11

PACKAGING    Promotional Aspects of Packaging    Protectional Aspects of Packaging    Transport Packaging Protection during Transit    Legal Provisions    Integrated

INTERNATIONAL MARKETING Paper- DSE/604(A) (MM) SEM VI- BBA Unit 4- International Product Decisions

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