Implementation and Standardization Strategies Paper
Implementation and Standardization Strategies Paper
Tracee Ward
MKT/562 – Advanced International Marketing
October 11, 2010
Jeffery Buck
Implementation and Standardization Strategies Paper
Valspar’s is planning to launch a new paint in its product line. The paint will change color based on the temperature. Once the paint is exposed to cold or heat the color will change which has lead to the product name Chameleon. “Since 1806, Valspar has been dedicated to bringing customers the latest innovations, the finest quality, and the best customer service in the coatings industry (About Valpsar.Com, para 1)”. Therefore Valspar has a long history with developing implementations and standardization strategies. According to Heil “a company develops its international strategy by considering its overall strategy, which includes its operations at home and abroad. We can consider four aspects of strategy: (1) scope of operations, (2) resource allocation, (3) competitive advantage, and (4) synergy” (Heil, para 16). Valspar has all these areas addressed and is now looking to develop its implementation and standardization strategies for its new product Chameleon. This paper will discuss the implementation strategies to include factors influencing local and foreign buyer behavior. Discuss the difficulties encountered when trying to research and understand local buyers. The implementation strategy will address which models of consumers’ behavior might be used to examine buyers in local markets and the importance of considering cultural elements to apply these models effectively. This paper will also discuss standardization strategies to include the difference between localization, adaptation and standardization of a global product or service. Discuss the key factors that drive a successful globalization of a new product into a foreign market. Discuss the pros and cons of standardization. Explain methods of integrating a global brand to both local and foreign markets
Tracee Ward
MKT/562 – Advanced International Marketing
October 11, 2010
Jeffery Buck
Implementation and Standardization Strategies Paper
Valspar’s is planning to launch a new paint in its product line. The paint will change color based on the temperature. Once the paint is exposed to cold or heat the color will change which has lead to the product name Chameleon. “Since 1806, Valspar has been dedicated to bringing customers the latest innovations, the finest quality, and the best customer service in the coatings industry (About Valpsar.Com, para 1)”. Therefore Valspar has a long history with developing implementations and standardization strategies. According to Heil “a company develops its international strategy by considering its overall strategy, which includes its operations at home and abroad. We can consider four aspects of strategy: (1) scope of operations, (2) resource allocation, (3) competitive advantage, and (4) synergy” (Heil, para 16). Valspar has all these areas addressed and is now looking to develop its implementation and standardization strategies for its new product Chameleon. This paper will discuss the implementation strategies to include factors influencing local and foreign buyer behavior. Discuss the difficulties encountered when trying to research and understand local buyers. The implementation strategy will address which models of consumers’ behavior might be used to examine buyers in local markets and the importance of considering cultural elements to apply these models effectively. This paper will also discuss standardization strategies to include the difference between localization, adaptation and standardization of a global product or service. Discuss the key factors that drive a successful globalization of a new product into a foreign market. Discuss the pros and cons of standardization. Explain methods of integrating a global brand to both local and foreign markets
References: Heil. K (2010). Strategy in the Global Environment. Retrieved from: http://www.referenceforbusiness.com/management/Str-Ti/Strategy-in-the-Global-Environment.html Johansson. J. K. (2009). Global Marketing. New York, NY: McGraw-Hill. Valspar (2010). About Valspar. Retrieved from: www.valspar.com Supplement Quality (1999).Pros and cons of standards. Retrieved from: http://www.supplementquality.com/stdregs/proscons.html