MET 470 Lecture Notes - Lecture 1: Crowdsourcing, New Product Development, Airbnb
22 May 2018
School
Department
Course
Professor
Factors Affecting product-adaption decisions
Regional, local or country characteristics
Product characteristics
Company considerations
Government regulations include
-Censorship requirements on Google in China
-Non-tariff barriers
Consumer characteristics, expectations, preferences
Local behavior, tastes, attitudes, traditions
ex: Reese's loved in America
As a country's _______________ advances, consumers demand better products
Economy
Reverse Innovation
developing countries have actually become engines of innovation for corporations
Critical to __________________ _________________________ to identify opportunities and make sure
product stands out
analyze competition
Product has to be protected against what?
longer transit times and longer shelf life
Ingredients cannot be in violation of ___________ or ______________ customs
Religious or social
example: Big Mac made with lamb rather than beef in India
find more resources at oneclass.com
find more resources at oneclass.com
Product characteristics
Packaging
Appearance
Method of Operation
Quality
Service
Country-of-Origin effects
Method of operation
Example: fans marketed in india must be able to withstand power surges due to frequent blackouts
Quality
Example: shipments to customers in Japan must always have fresher product than previous ones
Service
Example: Latin America appliances must be backed up by reliable service network, as consumers service
rather than return products
Country-of-origin effects
Consumer perceptions need to be monitored before launch
Decision to adapt products should be preceded by what?
A thorough analysis of the company and the market
After an analysis, the company must then decide what?
Whether benefits warrant the costs of adaptation
What is critical for catering to global customer needs?
global product development function
find more resources at oneclass.com
find more resources at oneclass.com
Document Summary
Local behavior, tastes, attitudes, traditions ex: reese"s loved in america. As a country"s _______________ advances, consumers demand better products. Reverse innovation developing countries have actually become engines of innovation for corporations. Critical to __________________ _________________________ to identify opportunities and make sure product stands out analyze competition. Product has to be protected against what? longer transit times and longer shelf life. Ingredients cannot be in violation of ___________ or ______________ customs. Religious or social example: big mac made with lamb rather than beef in india. Example: fans marketed in india must be able to withstand power surges due to frequent blackouts. Example: shipments to customers in japan must always have fresher product than previous ones. Example: latin america appliances must be backed up by reliable service network, as consumers service rather than return products. Consumer perceptions need to be monitored before launch. A thorough analysis of the company and the market.
