Marketing a New Product Internationally Essay

Marketing is the field which deals with commercialize. By defining the meaning, market is a place where people gathered and contact with matchless another, build relationship between two, in broad terms after the globalization world become a village and in this global agate line era merchandise is the system of globalized promotional activities of a business which take place to achieve the organizational and financial goals The circle of trade revolved close to the market implys, product development, and reasonable simile which can learned to instigate a market research that clarify the needs and demands of customer.Although focal process for a product promotion is market research, relying on that a producer can easily plan and develop his product well crafted, innovated, according to the socio economic factors, reflect the social and cultural ethics and will meet the consumer demands. Target Market and Product InformationDefining marketing on macro-level the macro-level mar keting is extremely challenging for an organization to market their product Unique TV outside(a)ly even seted by Philips, in particular in Indian market which is a multi-cultural alliance clear many social and religious boundaries, but economically emergent country and have great potential and competition in electronic media which reserve up a huge space for television industry as well as competition.Marketing of a television product that is particularordinary and modern with incorporate fingerprint scanner, and an innovative crafts of modern technology, the exceptional fingerprint technology allow phthisisrs to customize the idiosyncratics settings, for instance when a person turns the TV on via their fingerprint the individual can set his own customized profile which contains his favourite channel, recordings and so forth It is also ideal for parental control, parents can set the TV to only display the channels they choose for their Childs individual fingerprint as wel l as the time they allow their child to watch TV. alone the sensed quality, emotional constructs, and a concomitant justification of the purchase can only impact the customers decision to purchase a brand. Target Market, Society and Culture Before the air and cable network Indian had only one state owned channel broadcast, but after the influx of satellite and cable network a huge expansion in the electronic media industry has been witnessed, as well as great competition established in the television products.By find out broadly the rapid ontogeny of Indian television industry since inception to expansion the social practices, including politics and democracy, sport and identity formation, cinema and popular conclusion has influenced on the daily lives of Indians. Today the electronic media cater immense involvement in the social and cultural lives of Indians, as well as India become a very potential market for the innovative and modern television products. Local Economic Deve lopment India has traditional economy largely based on village farming, modern agriculture, handicrafts, modern industries, and a massive heart and soul of services.The emerging sector of Indian economy is service sector which has expended remarkably in last decade. But a large force of human resource has attached with the agricultural economic activities, this sector retains the backbone of the Indian economy. Foreign direct investment is change magnitude especially in the telecommunication and information technology sector, but the privatization of government owned industries and entities is still debateable in the government avenues. The economy has posted an average growth rate of more than 7% in the decade since 1997, reducing poverty by most 10 percentage points.India achieved 8. 5% gross domestic product growth in 2006, and again in 2007, significantly expanding production of manufactures. Software industry is the emergent sector of Indian economy government is capitalizin g on the human resource especially English literacy for a competent force to raise the exports of software products and services to western world. This economic growth facilitates India to reduce the fiscal deficit, but the boom in speculative real state business and increased interest rates have influenced the inflation in 2006 to 2007.But a huge problem set about by India is growing population. (Central Intelligence Agency, 2008) Regional Economic Development Asian economy comprises on the 4 billion people living in 46 different states (60% of the world population). Asia is largest continent of the world and six fourth stats of the world lie in Asia with worlds second largest economy China. The wealth and economic activities of Asia are distributed in different states of Asia as others which is because of its large size and multiple states differing cultures, environments, historical ties and government systems.In term of nominal gross domestic product the large economies in Asia are Japan, China, India, and South Korea. By measuring the economically Asia pertains China, the second larges economy in the world by nominal GDP, to Cambodia one of the poorest. The GDP of china in term of purchasing power parity to be the largest economy in Asia and the second largest economy in the world, followed by Japan and India as the worlds third and fourth largest economies respectively. Market CompetitionAs Indian retains the third largest economy of the world, and massive social and cultural influence on the television industry generates enormous competition in the television industry. India now producing diversity of television products locally, as well as international products is also there. With these warlike forces it is very hard for a new product to attract the audience, but not as much hard for a product with some extra ordinary and exceptional features, to mesmerize and accomplish the needs of the users.As compare with the other products the new and innovativ e product Unique TV can make a difference, because of its fingerprint scanner which can help the user to control and customize the profile of every individual. After the creation and deep study of international and regional scenario the producer and marketer follows second challenge to market the product with new scientific methodologies, which can effectively get the quick and excellent chemical reaction of the customer. Brand MarketingThere are enumerated factors that affect the barter foring intentions of customers as quality of services, equity, perceived value, satisfaction, past loyalty, perceived cost of changing supplier and brand perception. Most of them variables are inter-related and they impinge upon customer purchase behaviour cumulatively. High quality products can be created without input from marketing. However, in practice, it has been established that products that make market success received market or customer research support. There are several determinants th at contribute to the success of a brand.The ideas of brand marketing deuce-ace to the recognition of the research as being based on consumer perception. This leads to the question if different ethnic backgrounds impact the consumer perception of the brand strategies. Marketing Methodologies Questionnaire Survey- The field of study questionnaire was chosen for its cost effectiveness. The telephone questionnaire allows for a sample population to be easily reached with responses documented and easily dissected using data entry and statistical analyzing methods.Because of their widespread use, questionnaires are non-confrontational to the sample population and do not force opinions or options, allowing for accurate and viable responses to be gathered with little bias or influence from the researchers or complicated research equipment. The questionnaire development will take into consideration possible defects in the question distribution and has made all attempts to use common languag e and word organisation that is not technical or industry based with the hopes to remove the larger concerns in relation to comprehension and cognition.However, it is weighty to note that in any research methodology that is dealing with human responses to qualitative or quantitative questions remains the possibility of language bias. Advertisement- ad is any paid form of no personal presentation of ideas, products, or services by an identified sponsor. Most advertising media are mass media e. g. newspapers, magazines, television, radio, billboards, etc. Thus rather than transmitting messages to one buyer, most ads communicate to thousands or even millions of buyers this makes each contact for less expensive than personal sales presentation. sales Promotion- Like personal selling and advertising, sales promotion stimulates consumer buying and middlemens effectiveness, but with a wide variety of means. Sales promotion simulated military operation are expected to supplement salespe ople and advertising to make them more effective. Retail store window displays, product sampling, premium offers, and coupons are all examples of sales promotion. In contrast personal selling and advertising, many sales promotions are non-continuing, such as exhibits at fairs or contests.Manufacturers and retailers have substantial control over their sales promotions. Publicity- In contrast to Advertisement, Publicity may be defined as any Unpaid form of non-personal presentation of ideas, goods or services. personalized selling advertising and sales promotional are all direct forms of promotion, whereas publicity is indirect a firm cannot just go out and buy it. Publicity has been defined as non-personal stimulation of demand for a product, service, or business firm by planting commercially significant news about it in communications media.Some publicity about companies and brands is of course not solicited by sellers indeed, it may even be negative. Conclusion In brief we have re ached on the conclusion that the most important activity in the business and to promote a brand is marketing. From above literature, it can be stated that marketing in general is based on the consumers perception of the brand, regional and local economical factor, social and cultural manners and the methodologies applied to market the product.The perceived quality, emotional constructs, and justification of the purchase impact the customers decision to purchase a brand. This research demonstrates that market research cater foci point of marketing strategy, then identifying the organizational and products potentials for the effective product understanding, the marketing consultant and organization should analyze the product strengths and weaknesses to cover it with appropriation.To determine the supply and demand identify the main competitors, and craft a good and competitive piece of product which can compete according to the economical and technological factors prevailed in the mar ket. hence the identification of distribution options is to be the major decision to market the product, a great establishment of distribution channels will pertains a great proportion in successful marketing of a product. Marketing and advertisement campaigns play pivotal role in the success of any product.However, a significant amount of money, time and resources have to place behind marketing to the ethnic (or minority) masses and that was many years on the making when an organization advocated for that initiative, that too was looked upon as radical. approaching off the heels of that accomplishment, painting the picture of a viable affluent ethnic consumer might be easier. Ultimately, relevant, comprehensive and actionable insight will lead to advised business decisions and the implementation of marketing best practices. If the world has changed so must a brands attitude and actions towards marketing to new target audiences.