Large corporations have traditionally been the major global competitors, but more and more small businesses are entering the global marketplace by the very fact of having an internet presence. In each case, the products must be sold using marketing concepts that are adapted for the environment or market in which they are sold.
To build a stronger understanding of global marketing, you will identify a foreign-made product sold in the U.S. market and discuss how it might be improved from a marketing standpoint for the U.S. market.
Shop for a product made by a foreign firm. Possible venues to find your foreign-made product would be ethnic grocery stores or chains, such as Cost Plus World Market® or Pier One®, that import inexpensive products from other countries. When selecting a product, try to find one that has obviously been poorly marketed in terms of packaging, brand name, or general lack of appeal to U.S. consumers.
-Take notes on this product.
-Take a picture with your cell phone and attach it to your posted response in the discussion area. You will be surprised at how creative and entertaining this exercise is.
As the marketer of your chosen product, you have the opportunity to change how the product is marketed in the U.S.
-Using research from Chapter 5 in your textbook, write your response to the following questions after you have attached your product picture to the discussion.
- How would you change this product? Would you change the brand name, the specific audience or customer, and/or price? Explain your response.
- Choose one of your classmates’ products and discuss whether you agree with their suggested changes and why or why not.