Global Product Strategy: A Longitudinal Multi-Country Product Attribute Study
Abstract
For many companies a fundamental marketing challenge is to create a global strategy which will allow for maximum use of existing product offerings and marketing activities through standardization while simultaneously "acting local" in order to effectively adjust to unique aspects of any given market. The purpose of this study is to investigate global product strategy and the issue of identifying relevant areas where standardization may be possible, and where the need to "act local" may be necessary, in the context of product offering attributes using a longitudinal approach. This study will investigate potential differences along 16 "sought for" product attributes over approximately a ten year period across three distinct international markets, explore how those identified relevant attributes change across three different product categories, The results show that in developing a long-term global product strategy it is important to begin product positioning, differentiation, and promotional activities with the fundamental product attributes of quality, price, appearance, and availability.