The product P of the marketing mix is at the heart of the challenges and oppornrnities facing
global companies today: Management must develop product and brand policies and srategies
that are sensitive to market needs, competition, and the company's ambitions and resources on a
global scale. Effective global marketing often entails finding a balance between the payoff from
extensively adapting products and brands to local market preferences and the benefiis that come
from concentrating company resources on relatively standardized global products and brands.
A product is a good, service, or idea with both tangible and intangible attributes that collectively
create value for a buyer or user. A product's tangible attributes can be assessed in physical
terms, such as weight, dimensions, or materials used. consider, for exampte, a flat-panel tv
with an LCD screen that measures 42 inches across. The unit weighs 22 pounds, is 3 incies deep,
features four high-definition media interface (HDMI) connectiorx, has a built-in runer capable of
receiving high-definition TV signals over the air, and delivers a screen resolution of 1080p with
a L20 Hz screen-refresh rate. These tangible, physical fearures and attributes translate into benefits
that enhance the enjoyment of watching HDTV broadcasts and DVD movies. Accessories
such as wall mounts and floor stands enhance the value offering by enabling great flexibility
The product P of the marketing mix is at the heart of the challenges and oppornrnities facingglobal companies today: Management must develop product and brand policies and srategiesthat are sensitive to market needs, competition, and the company's ambitions and resources on aglobal scale. Effective global marketing often entails finding a balance between the payoff fromextensively adapting products and brands to local market preferences and the benefiis that comefrom concentrating company resources on relatively standardized global products and brands.A product is a good, service, or idea with both tangible and intangible attributes that collectivelycreate value for a buyer or user. A product's tangible attributes can be assessed in physicalterms, such as weight, dimensions, or materials used. consider, for exampte, a flat-panel tvwith an LCD screen that measures 42 inches across. The unit weighs 22 pounds, is 3 incies deep,features four high-definition media interface (HDMI) connectiorx, has a built-in runer capable ofreceiving high-definition TV signals over the air, and delivers a screen resolution of 1080p witha L20 Hz screen-refresh rate. These tangible, physical fearures and attributes translate into benefitsthat enhance the enjoyment of watching HDTV broadcasts and DVD movies. Accessoriessuch as wall mounts and floor stands enhance the value offering by enabling great flexibility
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