Question

You are the NEW Brand Manager Team for Asian Markets. You have been given a very strange foreign product to Market in China, India or Japan. Your product has been approved to be sold in Asian Markets in Large Supermarkets. Answer the following Questions: --How will you POSITION the Product? -How will you MARKET the product to meet global issues? -How will you EVALUATE your success or failure in the new Market?

Answer 1

I will position the product very similar to the local competitors products. For example I have to position an eatable snack in a large supermarket. I will position it where consumers usually go to buy such product categories and will keep it extremely price competitive as the asian market is huge, there are huge economies of scale available. As asian tastes are also different, the unique similarities with the culture could be displayed on the product and the innovative way it has been used, for example a curry flavor in India, so that it meets the taste requirement.

I will market the product by stating that environmentally sustainable measures were undertaken while producing this product and that the taste is very authentic to the culture. The local brand ambassador which connects to the audience could be hired in order to market the product in the foreign country so that the product reaches the audience and preferences meet up.

I will evaluate the success or failure based on the sales and the connectivity to the audience, whether it relates to them and higher sales ultimately signify that they liked the product. Comparison with the other competitors could also help one evaluate whether the products sale was in line with the market trends in the economy, cause if there is a slack, and if the sales of the company have reduced month on month, but so have the other competitors, performance with respect to other competitors holds the key for evaluation.