Explain blending product/promotional strategies with providing examples in details.
The company will have to keep the product and promotional strategy in sync with the dynamic business environment. Many businesses wish to expand their activities across many countries. In such situations, the business will have to adapt a product promotion strategy. There are five such strategies:
Strategy 1: Product–Communication XXXXXXXXX (XXXX XXXXXXXXX):
The XXXX XXXXXXXXX XXXXXXXX XX when a XXXXXXXX XXXXX XXX same XXXXXXX XXXX XXX XXXX XXXXXXXXXXXXX XXXXXXXX XXXXXX XXXXXXXXX XXXXXXXXX. XXX XXXXXXXX chooses a XXXXXXXXXXXX XXXXXXX XXXX it wants to sell in international markets. The product XX XXX same XX XXXX XXXXX sold in XXX XXXX market. XXX XXXXXXXXXXXXX strategy is also the XXXX XX XXXX in the home market. XX, there XX XX XXXXXXX XX either customize XXX product or XXXXXX the XXXXXXXXXXXXX XXXXXXXX. XXXX strategy XX mostly followed by early entrants in the market. For example: Gillette. It was one of the XXXXX XXXXXXXXX in XXX XXXXX XXXX introduced disposable blades for XXXXXXX and made shaving an easy process.
Strategy X: Product XXXXXXXXX–Communication XXXXXXXXXX
This strategy XX used when XXX XXXXXXXX XXXXX the XXXXXXX that XXX consumers perceive that the XXXXXXX XX XXXXX XXXXXXXXX. XXXX customers may also XXXX that XXX product is for a XXXXXXXXX XXXXXXX or XXXX of XXXX may XXXX expect different benefits XXXX the product. XX XXXX a situation, the business XXXXXXXXXX the same XXXXXXX in the new market XXX it XXXXXXXXXXXX in a different manner in each country. The communication for the XXXX XXXXXXX in two countries XXX be XXXXXXXXX XXXXX XX the XXXXXXX XXX which it XX used. XXX example: XXXXXXX Chewing XXX. XXX XXXXXXX XXX XXX XXXX in XXX US as XXXX XX the XXXXXXXX market. The XXXXXXXXXXXXX in the US XXXXXX highlighted XXX fact that it XX a product that XXX XXX as a XXXXXXXXXX XXX XXXXXXX XXXXX in the European market it XXX XXXXXXXXXXXX as a XXXXXXX XXXX XXX dental benefits.
XXXXXXXX 3: Product Adaptation–XXXXXXXXXXXXX XXXXXXXXX
XXXX XXXXXXXX is used XXXX the XXXXXX XXXXXX XX XXXXXXX in XXXXXX XX the XXXX XXXXXX in XXX context of XXXXXXXXXXXXX. So a XXXXXXX XXXXXXXX can XX XXXXXXXXXXX in communication. XXXXXXX, XXXXX XX XXX XXXX XXX the XXXXXXX to XX XXXXXXX according XX the needs of the XXXXX XXXXXX. X good understanding of the local tastes and preferences XX XXX people XX essential for XXX XXXXXXXXXX of the product. XXX XXXX XXXXXXX XXX XXXX XX XXXXXXXX’s. The XXXXXXX of XXXXXXXX’s XXX XXXX XXXXXXXX XXXX XXXXXXX to the country in which the company has expanded its activities into. XX India, XXXX XX XXX beef XXXXXXX XXXXX of McDonald’s were XXXXXXX XX it goes against XXX Indian XXXXXXX. XXXX of these items XXXX XXXXXXXX by cottage XXXXXX which XX more XXXXXXXXXX in XXX Indian context.
Strategy 4: XXXXXXX–XXXXXXXXXXXXX Adaptation (XXXX XXXXXXXXXX)
This strategy XX used XX a business XXXX it XXX XX XXXXX into markets XXXX are XXXXXXXXXXXXX different from XXX home market. A good understanding of the product XXXXXXXXXXX XX XXX XXXXXXXXX XX XXXXXX XXXXX with XXX XXXXXXXXXXXXX style XXXXXXXXX. XXX example: XXXXXXX came XX XXXXa XXXXXXX Total and introduced it in XXXXXXXXX like XXXXXX, XXXXXXXXXXX, XXXXXXXXX etc. In XXXX of these XXXXXXXXX XXX product had XX XX XXXXXXXX XXXXXXXXX XX the customers’ tastes and this XXX also communicated to XXX customers in their preferred XXXXXXXX and style. Another such XXXXXXX is XXXXXXXXX in India. The product as XXXX as XXX communication made XX XXX product was XXXXXXXXXX in order XX capture XXX market.
Strategy 5: Product XXXXXXXXX
This strategy XX XXXX when XXX company XXXXX XX XXXX the need satisfaction XX the customers XXXXX with its goal XX XXXXXXXX new markets. XXX XXXXXXXX can do so by XXXXXXXXX a XXXXXXX and XXXXXXX it such XXXX it is affordable XXX XXXXXXXXXX XX majority of XXX population in the new XXXXXXX. For XXXXXXX: In the low XXXXXX countries like XXXXX, XXX XXX XX XXXXXX was XXXXXXXXXX as an additional expense. P&G XXXX up with a new product XXXX was priced XX XXX company XXXX XXXX it could be afforded XX XXXXXX. XXXX way P&XXX;X XXXXX capture a sizable portion of the XXXXXXXX XXXXXXX.
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