Page 43 - GLOBAL STRATEGIC MARKETING
P. 43
Chapter 7: International product and
service strategies
Case study: Drambuie, Ty Warner
Many organisations develop their international
activity to capitalise on opportunities, increase
sales and generate more income as well as
extend the product or service portfolio into new
markets. This can be achieved by introducing existing products into new markets or
developing ‘new’ products for the domestic as well as the international market. It is
essential that the international marketer understands consumers in new international
markets and either adapt or standardise the product offering. Branding is also an
essential component of product and service strategies as familiarity across markets
and consistency with the brand identity is essential to increase customer-based brand
equity. However, this can lead to piracy and counterfeits of well-reputed brands and
can damage the brand reputation.
