According to Vrontis and Thrassou, standardizing specific elements of the marketing mix and adjusting others to different market conditions is critical and standardization and adaptation is not an all-or-none option but rather a matter of degree. There can also be practical considerations. The downside is that you may encounter legal problems and fail to penetrate new markets. This is very much a strategy which could be ideal in a Third World situation. An international product … That means in terms of target markets, packaging and designs, ingredients, languages, culture and etc the organizations need to come up with different ways … If you have chosen to adapt your product, there are several elements which you can change: 1. Again this is a low cost strategy, but different product functions have to be … Product adaptation is a strategy in which a new product is based on customizations or modifications on existing products. This marketing adaptation strategy enables the company to reach more consumers all over the world. Both product and communication strategies need attention to fit the peculiar need of the market. Yet, product adaptation is not always about taste or recipe changes. Extended product - communications adaptation. External elements: Price, packaging, brand and external design; 3. Adaptation of product is a process or strategy of adapting or tailoring an otherwise standardized product or service offering to meet the needs and preferences of a particular market or set of consumers, where such markets and consumers are typically examined and managed within an international marketing context. These products don’t depend on innovations and are a mixture of previous products. Opportunities and challenges of the local economy and society to adapt to climate change, Introduction explaining why adaptation is needed, e.g. The action plan accompanying the strategy sets out what needs to be done to turn the prioritised adaptation options (Step 4) into actions. The adaptation strategy is a reference document outlining the vision and direction of actions and their expected outcomes. Accordingly, to secure long-term success for multinational companies, the elements of both approaches should be integrated. (2005) have found that the type of the exported product However, three benefits can be derived from product adaption strategy. It may also include manufacturing a new product with basis of customizations of a product already in existence. Overall coordination: Federal Ministry of Agriculture, Forestry, Environment and Water … For the purposes of this paper, we define adaptation of the product as the degree to which its elements (brand, design, label, product line, and quality) are adapted to the external markets in order to adjust to the differences in the environment, consumer behavior, standards of use, and competitiveness. Adapted global marketing is an international marketing strategy for adjusting the marketing strategy and mix elements to each international target market, bearing more costs but hoping for a larger market share and return (Armstrong & Kotler, 2008). The results indicate that adaptation is greatest for distribution, followed by price, promotion, and product. This approach has the advantages discussed below for both the customers and the company globally and locally (Solberg 2000). They can operate online, in brick-and-mortar stores, or both. The concept of Brand Adaptation calls for the reuse and a minor change in the visual, typographical or messaging elements of a brand and its overall branding strategies by the firm. These elements are also referred to as the “4 Ps” (product, price, placement and promotion). It changes as your product grows and matures. Adaptation occurs when any element of the marketing strategy is modified to achieve a competitive advantage when entering a foreign market. Product adaptation in terms of the degree to which the firm’s actual and augmented product elements are adapted for international markets is able to accommodate differences of new environmental forces, different consumer behavior, use purpose patterns, and competitive situations of such international markets. Often, local authorities develop both a plan and a strategy as a single document, called either "adaptation strategy" or "adaptation plan" (see examples in Step 5.2). This debate has been widely pursued not only in relation to marketing strategy in general (Douglas and Wind, 1987) but also in relation to … The book will be provided to you on the attachment. … In any case, it is recommended that a draft of the adaptation strategy is discussed in a public consultation with all relevant stakeholders (see Step 1.6). International Product Strategies. Conversion Process: It refers to a series of operations that are performing on materials and parts. • Adaptation – changing elements of design, function, and packaging according to needs of different country markets • Creation – developing new products for the world market . There are several product adaption strategies that an entity can use such as product, target market, package and design, ingredients, language, culture, religion etc. Promotional adaptation – altering the types and methods of … 3 elements of the product or service Standardisation The core product Adaptation benefit or service Image Perceived Benefits value Performance Quality Brand name Features Attributes Design Packaging Size and colour variants After-sales service Marketing Guarantees support services InstallationAdaptation Delivery Definition Product adaptation is the modification or changing the features of a product to reach new customers or new markets. sectoral, planning documents. Once climate change risks and vulnerabilities have been assessed (Step 2) and preferred adaptation options have been identified and selected (Step 3 and Step 4), a framework for implementation of adaptation action - strategy and action plan - can be established. Product adaptation strategy involves modification to a product's design, pricing, promotion, and distribution as a firm enters export markets to satisfy local … But this strategy also means a higher production and communication cost so it is vital for the company to run serious market studies before entering a new country/market in order to understand the consumers' expectations first. In accordance with Powers & Loyka (2010) adaptation of the product adaptation to the local market is a factor that should be considered in the company's marketing strategy. product adaptation context because they suggest patterns of adaptation needs. overall product level but also at the product sub-element level, considering product name, product positioning, product quality, product features, product packaging, and models in the product line. Some companies, such as those in the nut and bolt industry, are successfully using standardized products because most countries have similar quality standards and legal requirements for these goods. adaptation practices in the companies according to four main marketing strategy elements: the product, the price, the promotion and the place (distribution), dividing them into 30 more detailed sub-elements (Table 1). Adaptation of product is a process or strategy of adapting or tailoring an otherwise standardized product or service offering to meet the needs and preferences of a particular market or set of consumers, where such markets and consumers are typically examined and managed within an international marketing context. In short, to become more effectively prepared for dealing with product adaptation, the theory on organizational buyer behavior can provide a huge contribution to this process. LTAS Long Term Adaptation Scenarios M&E Monitoring and Evaluation MDGs Millennium Development Goals MTEF Medium- Term Expenditure Framework NAAQMN National Ambient Air Quality Monitoring Network NAP National Adaptation Plan NBI National Business Initiative NCCAS National Climate Change Adaptation Strategy Globalization has helped in reducing the differences between countries. This overview will facilitate coordination of the mainstreaming activities. Assessing climate change risks and vulnerabilities, Assessing and selecting adaptation options, Europe's vulnerability to climate change impacts occurring outside Europe, Climate change impacts on European cities, Adaptation to climate change in urban areas, 1.1 Obtaining political support for adaptation, 1.3 Setting up adaptation processes within and beyond the municipality, 1.4 Identifying and obtaining human and technical resources, 1.5 Identifying and obtaining financing and funding, 1.6 Identifying and engaging stakeholders, 1.7 Communicating adaptation to different target audiences, 1.9 Preparing the ground for adaptation: Self check, 2.1 Recognizing past and present climate impacts, 2.2 Understanding climate projections and future impacts, 2.4 Conducting risk and vulnerability assessments, 2.5 Understanding the role of surrounding areas in adaptation, 2.6 Identifying main adaptation concerns and defining objectives, 2.7 Assessing climate change risks and vulnerabilities: Self check, 3.1 Creating a catalogue of relevant adaptation options, 3.2 Finding examples of good adaptation practices, 3.3 Identifying adaptation options: Self check, 4.1 Choosing an assessment framework for adaptation options, 4.2 Conducting a cost-benefit analysis of adaptation measures, 4.4 Assessing and selecting adaptation options: Self check, 5.1 Designing an effective adaptation action plan, 5.2 Finding examples of adaptation action plans, 5.3 Mainstreaming adaptation in urban policies and plans, 5.4 Addressing climate change through adaptation and mitigation, 6.1 Developing the monitoring and evaluation approach, 6.3 Finding examples of adaptation monitoring indicators, 6.4 Using monitoring results to enhance the process of adaptation, 6.5 Monitoring and evaluating adaptation: Self check, Designing an adaptation strategy and action plan, Planning for Adaptation to Climate Change - Guidelines for Municipalities, Methods and Tools for Adaptation to Climate Change - A Handbook for Provinces, Regions and Cities, Elaboration and implementation of a local adaptation strategy or action plan, RAMSES Transition Handbook and Training Package, Climate resilient cities and infrastructure, MAinSTreaming Experiences at Regional and local level for adaptation to climate change, Fostering resilience. It may also include manufacturing a new product with basis of customizations of a product already in existence. which are globally standardized products sold everywhere and welcomed by everyone (Levitt, 1983). location around the world. They consist of raw materials, parts, capital equipment, human efforts, etc. Product adaptation is often essential for successful international sales. Intangible adaptation – modifying the product’s intangible elements to the foreign market, such as brand name and positioning. This article has been researched & authored by the Business Concepts Team. Implementation of adaptation actions, when not entirely mainstreamed into existing sectoral policies, is usually guided by a dedicated adaptation strategy and an accompanying action plan. 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