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Globe Marketing - Keegan and Green - Chapter 10 (Summary)
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Book: Global Marketing by Keegan and Green Summary: Chapter 10
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Week 5 – International MarketingChapter 10 – Brand and Product Decisions in
Global Marketing
BASIC PRODUCT CONCEPTS
- Product = good, service, or idea with both tangible and intangible attributes that
collectively create value for a buyer or user
- Tangible attributes can be assessed in physical terms, e.g. weight, dimensions,…
- Intangible attributes include status associated with product ownership, brand’s
overall reputation
Product Types
- Consumer and industrial goods
- Further classification on the basis of criteria such as buyer orientation
o Buyer orientation = composite measure of the amount of effort a customer
expends, the level of risk associated with a purchase, and buyer involvement
o Framework includes categories such as convenience, preference,…
- Can also be categorized in terms of their life span
Product Warranties
- Express Warranty = written guarantee that assures the buyer that he or she is getting
what he or she has paid for or that provides recourse in case a product’s
performance falls short of expectations
- Competitive tool to position a company in a positive way
Packaging
- Consumer packaged goods applies to a wide variety of products whose packaging is
design to protect and contain the product
- Key issue today: “eco-packaging”
- Important communication functions: packages (and labels) offer communication cues
that provide consumers with a basis for making a purchase decision
- Nowadays, many industry experts agree that packaging must engage the senses
Labeling
- May be designed to attract attention, to support a product’s positioning, and to help
persuade consumers to buy
- Content of product labels may be dictated by country- or region-specific regulations
Aesthetics
- Global marketers must understand the importance of visual aesthetics embodied in
the color or shape of a product, label, or package
Based on the book ‘Global Marketing’ by Warren J. Keegan and Mark C. Green
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