To what extent must

the company adapt

its products and

marketing program

to each foreign

country?

ADAPTATION :

Cultural differences that differentiate countries :• Individualism versus collectivism

• High versus low power distance

• Masculine versus Feminine

• Weak strong uncertainty avoidance

Global Similarities and Differences1.

CULTURAL PREFERENCE

Global Product Strategies :2.

Straight Extension introduces the product in the foreign market without any change. Tempting because it requires R&D expense, manufacturing retooling, or promotional modification.

Product Adaptation alters the product to meet local conditions or preferences. Flexible manufacturing makes it easier to do so on several levels viz. regional version, country version, city version, retailer version.

Levi Strauss Adapts to China

Global Communication Strategy3.

Price Escalation :Companies have three choices for setting prices in different countries:

• Set a uniform price everywhere

• Set a market-based price in each country

• Set a cost-based price in each county

Global Pricing Strategy4.

A Grey market (sometimes called a parallel import, but this can also mean other things; not to be confused with a black market or a grey economy) is the trade of a commodity through distribution channels which are legal but are unofficial, unauthorized, or unintended by the original manufacturer.

Global Distribution Strategy5.

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