MARK 3000 Chapter Notes - Chapter 6: Heinz Tomato Ketchup, Reverse Innovation, Glocalization
9 Feb 2017
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Like always, determine the target market and the proper marketing mix. More difficult to understand the cultural nuances of other cultures, must also consider subcultures of each culture, consumers view products and their role as consumers differently in different countries. Global product or service strategies: sell the same product in the home and host country. Reverse innovation: when companies initially develop products for niche or underdeveloped markets and then expand them into their home country. Innovation ex: chinese hershey"s green tea for local markets. Bicycle in us meant for fun and fitness but in. India market it as transportation: sell a similar product with minor adaptations. Campbell soup tried to enter china and russia but these countries eat soup often and demand high quality, so campbell entered a joint venture in china and created broths for russians to cook with.
