- Elgar original reference
Edited by Subhash C. Jain
Chapter 12: International Product Strategies: An Integrative Framework
Preet S. Aulakh INTRODUCTION In recent years, because of the opening of new markets around the world and the shift in competition from individual countries to a global level, ﬁrms have tried to pursue global or international marketing strategies. Product policy in international markets represents a key component of a global marketing strategy for a ﬁrm. However, given the diversity of environmental factors across countries, managing the international product policy poses unique challenges and opportunities for marketing managers. Some of the key questions facing a ﬁrm pursuing global product strategy are: how to develop new products for diﬀerent foreign markets; the degree of standardization of products across markets; the timing of product introductions in various markets; and managing the international product policy to exploit the synergies across countries accruing due to the location of manufacturing facilities or sourcing of product components from diﬀerent locations. However, despite the complexity of international product policy decisions, the standardization of international marketing programs represents much of the research accumulated to date. While the marketing standardization (of which product standardization is a part) argument is not new (e.g. Bartels 1968; Buzzell 1968; Fayerweather 1969; Sorenson and Wiechmann 1975), renewed interest in the topic was generated following Levitt’s (1983) article where he proposed the concept of a ‘global product’ and called for proactive identiﬁcation of similar market segments around the world. Subsequent research rekindled a great deal of controversy over what can be standardized in global marketing and to what extent it can...
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