Product adaptation is the process of modifying an existing product so it is suitable for different customers or markets. An adaptation strategy is particularly important for companies that export their products because it ensures that the product meets local cultural and regulatory requirements. Adaptation is also important for companies that want to introduce new products but do not have the funds or resources to develop completely new items. A 2007 article in “Innovative Marketing” noted that the top four factors driving product adaptation are culture, market development, competition and laws.