Page 179 - GLOBAL STRATEGIC MARKETING

• Measurability: The degree to which the size and purchasing power
of a resulting segment can be measured

• Accessibility: The degree to which the resulting segments can be
effectively reached and served

• Substantiality/profitability: The degree to which segments are
sufficiently large and or profitable

• Actionability: The degree to which the organisation has sufficient
resources to formulate an effective marketing programme and make
things happen.

Once the segment is determined then it is necessary to meet the needs

and wants of that segment by offering the most suitable product/service.
Product decisions are at the heart of the marketing mix and it is extremely
important, especially with international markets, to make the right decision

in relation to international product strategy (Doole and Lowe, 2008).

7.3 International product strategy

To most people, a product is something tangible that serves a purpose, a
need or a want, in exchange for something with value such as money. This
is a very narrow definition that has changed a great deal over the years.

Recently, Doole and Lowe (2008) define a product as a collection of
attributes that yield satisfaction to the buyer or end-user. Products can be

further defined in relation to the different marketplaces in which they are
found:

• Local products have an opportunity in only one market

• International products have the opportunity to expand in several
overseas markets

• Multinational products are adapted to suit many international markets

• Global products are designed to meet the needs of a specific segment
the world over.

International companies that have gone through a detailed market
segmentation exercise prior to selecting their target market should have a