5 Product & Communication Strategies for Entering Foreign Markets

This report explores five distinct product and communication strategies that companies can adopt when venturing into foreign markets. These strategies range from dual extension, where both the product and communication remain unchanged, to product invention, where entirely new products are developed to meet local needs. The report details product extension and communication adaptation, product adaptation and communication extension, and dual adaptation, providing examples of companies like Shiseido, Levis, British Petroleum, and McDonald's to illustrate each approach. It emphasizes the importance of understanding global diversity, culture, consumer behavior, and regulatory frameworks for successful international expansion and highlights how these strategies enable companies to compete effectively in diverse environments and align with local conditions in an increasingly globalized world. Desklib provides access to similar solved assignments and past papers for students.

Five product and communication strategies
adopted by the company entering into the foreign
market
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Abstract:
The Report is all about the product and communication strategy adopted by
the companies to venture into the international market. It is the game plan of the
organization how they enter, communicates with the local population and place
their product so as to have an impact in the market. The report suggests 5-different
strategies that are adopted by the companies with a view to achieve the above
given objectives.
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Table of Contents:
References
3
Introduction................................................................................................................................4
5 product and communication strategies………………………………………………………………………………..4
Conclusion..............................................................................................................................................................................5.
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References
Chand. S. (2018). 5 Major product communication strategies used in international marketing.
Retrieved from http://yourarticlelibrary.com/marketing/5-major-product
Hofstead, (2016). How national culture influences organizational strategy. Retrieved from
https://www.academicwritersbureau.com/samples/214-how-national-culture-influences-
organizational-strategy
Okwandu G.A. (2018). Product adaptation strategy of MNC in less developed Countries: An
appraisal . Retrieved from http://www.researchgate.net
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Five product and communication strategy that can be adopted by firms
expanding into the foreign market:
Introduction:
Most international companies i.e. MNCs has there global presence with the deep
understanding of the global diversity, culture, consumer behavior, political and
regulatory framework that they need to comply. It is for such reason that the
organization has to properly assess the environment as to opportunities and threats,
their own capabilities and areas where learning is required (Okwandu, 2018). In
order to compete with the other global player and local businesses, the firms can
adopt any of the five product and communication strategy to venture into the
foreign market (Chand, 2018).
1. Product and communication dual extension strategy- In such type of
strategy, the firm does not need to alter neither the product nor the way they
communicate in their home countries. Such strategies are helpful for the
firms who are making a first move or an early entrant or either they lack the
resources. Such moves help them to make a savings in their resources and
the best suited example would be of Shiseido, a Japanese cosmetic company
and Blundstain, an Australian boot making company (chand, 2018).
2. Product extension and communication adaptation strategy- While executing
such strategy the organization extends the product leaving them in the same
standardized form as in their home countries but the communication is
tailored as to the requirement of foreign countries, their particular needs,
behavior, political or legal environment. The classic example of it is Levis,
known for their strong global brand. The communication strategy that they
follow is that they target youngster in UK while in France they takes care of
the individual needs. Similarly, in Japan they are positioned as an American
hero.
3. Product adaptation and communication extension- By implementing such
strategy the product has to be tailored as to the countries demographics,
needs, legal requirement and particular need of the region or the people. To
explain this further, British petroleum sell their product with different
formula as to the requirement of different countries but the way they
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communicate as in regard to their logo and other communication is same as
they do in their home country.
4. Product and communication dual adaptation- Working in different countries
can have biggest challenges of working in a different environment and
culture. Such difference requires the organization to tailor both their
products and communication to be in alignment with the local condition.
This can be explained by the tailor made foodies that Mc Donald’s serves
the Indian customer given their cultural sensitivity and so has to
communicate in the similar fashion as to project their audience that they are
“desi” meaning local. Such strategy are also implemented in the form of
acquiring local ventures already acquainted with the customer behavior,
trends and needs that allow the global firms to smoothly ride on the already
created market by these local giants (Hofstead, 2016)
5. Product invention- Some of the organization has a totally unique viewpoint
and strategy as to serve the needs and aspiration of the global masses. In
order to serve such needs and requirement Black and Decker came up with a
unique product said to be snake and light which is very famous and covers
most of the developed and developing countries where they sell.
Conclusion:
In the dynamic, unpredictable and highly competitive environment the
organization can adopt any of the above given strategy to better serve the needs
and aspiration of the local population of a country. Globalization and the flurry
of new born start-ups with a global vision want to make entry into the other
countries. Such trends have allowed them to implement one or the other such
strategy so as to combat the bitter competition and align with the given
environmental condition.
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