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International Marketing
Notes
Example: A portable personal sound or personal stereos are a category of international
product; Sony is an international brand. An international brand, like a national or international
brand, is a symbol about which customers have beliefs or perceptions.
Self Assessment
State whether the following statements are true or false:
1. National products add to the opportunity cost of a company as it can’t be used in any other
country.
2. International products and international brands are one of the same things.
7.2 New Product Development
What is a new product? Newness can be assessed in the context of the product itself, the
organisation, and the market. The product may be an entirely new invention or innovation-for
example, the Video Cassette Recorder (VCR) or the compact disc. It may be a line extension (a
modification of an existing product) such as Diet Coke. Newness may also be organizational, as
when a company acquires an already existing product with which it has no previous experience.
Finally, an existing product that is not new to a company may be new to a particular market.
Figure 7.1: Product Development Process
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