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Hi, need to submit a 750 words essay on the topic Choose one of the 4 topics to write on plz about commercialization.Download file to see previous pages... Discussion The paper will outline the genera
Hi, need to submit a 750 words essay on the topic Choose one of the 4 topics to write on plz about commercialization.Download file to see previous pages...
Discussion The paper will outline the general implication is launching of new products internationally based on the plan of commercialization. International launch of products occurs when firms launch new products internationally to enhance their market value and increase profit margins and possibilities of success, (Clancy, Shulman &. Wolf, 1994). Based on the commercialization plan a company should establish when the product would be launch (launch timing), where it will be launched (location of launching), and the target customers of the new product. International launching process is a challenging experience and has both positive and negative implications. Stages involved in new product launching are logistics, identifying strategy of marketing, proper placement of product and target advertising and marketing is the main step in international launch of a new product, (National Research Council, 1993). A successful launching implies increased production and sales while unsuccessful launching implies significant company loss. On the international market side the evaluation and participation of the customers is crucial for successful new products commercialization. therefore, how customers evaluate, participate, and view the product is crucial, (Gisser, 2008). Companies experience various challenges when launching a new product internationally, for instance, existence of different cultures and intra multicultural countries development. Many firms are under excessive pressure to quicken their new products commercialization to enhance lifetime and cost-effective value of products, and to bear the changing economies trends. The greatest challenge in the launch of a new product internationally is to ensure the company effectively and securely deliver accurate and current brand marketing materials to channels of distribution, retailers, customers, and sales teams. Handlings decentralized costs, supporting public relations across different markets and ensuring that international requirements of products for engineering, sales and marketing are satisfied is a challenge, (Kono &. Lynn, 2007). Planning for diverse language press tours, conferences, presentation of products and sessions of training as well as ensuring consistency in product qualification and testing is a challenge. Therefore, following a better commercialization plan helps a company to handle such challenges. Companies may experience problems in meeting growth targets due to changes in demographics traits of customers, high competition in established markets and high spending on services as well as increase in price labels and reduced new brands success rate, (Morley, 2008). Experts agree that providing standardized products for diverse national markets may allow firms to attain fast development of products and multi-national rollout as they benefit from substantial cost benefit. Nevertheless, not all producers in multinational markets are able and willing to adopt a standardized strategy of products. In cases where technological demands, standards and procedures of approval differ substantially among nations, manufacturers invariably should adapt the brand techniques that fit the unique requirements of each nation. Similarly, extensive customization may cause increased development of new products, rollout times, and enhance the chances of the entire project delays, thus adversely affecting the entire outcome of the new product.