adaptation in marketing

Pricing strategy is a huge element of an overall marketing strategy. When carried out in the right manner, adaptive marketing feels like rewarding consumers by giving them the opportunity to personalize a product/service. By Josh Cole. Brands are already aware of this phenomenon that is spreading like wildfire in the leading marketing firms. Company resources and skills will also be an important consideration to determine whether the assets and competencies of the firm can accommodate and support an adaptation approach for possible competitive advantage. Ultimately, however, the desirability, extent, and type of adaptation, whether in marketing communications, product packaging, or positioning, will invariably be highly dependent on characteristics of the company, product, industry, and market. Communication adaptation means changing the communication for a product due to change in strategy, line extension etc. Product adaptation is the process where a company setting their brand as international brand and entering into an international market, so in order to meet various standards of the international customers they have to basically adapt the product with respect to individual or regional market. Moreover, companies adapt the product to local market. Research Design 4.1. The capacity to constantly adapt whilst staying true to their personality throughout this process, brings more value to the brand’s identity. While adaptive marketing strives to achieve the same, marketers who dare to question the status quo by taking a different approach, such as adapting to consumer touchpoints, brings a leadership quality to the brand’s image in the market. Globalizing your company and selling goods and services abroad can present a lot of challenges. Nothing is constant. 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. In this lesson, you'll learn what product adaptation is, some of its key concepts, and be provided some examples. It may also include manufacturing a new product with basis of customizations of a product already in existence. Adaptive Marketing is the new approach taken by marketers for strategizing marketing efforts by actively tracking and responding to consumers. I. How to Learn New Skills? There is a need to establish a brand which can be applied globally or could be altered in order to fit in the local markets. Its platforms are usually underestimated in their infancy. While standardization is equated with brand consistency, lower advertising costs, and overall synergy, adaptation is often required to address cultural differences for more effective communication and proves that cutting costs does not always facilitate higher profits1. (2003). Source: http://www.aed.in/blog/what-is-adaptive-marketing-and-should-you-start-adapting, The Importance of Sexual Pleasure: A New Declaration, 5 Examples of Businesses Successfully Integrating Print and Digital Marketing, What advertising teaches us about periods, How to Successfully Pitch Brands as a Micro Influencer on Instagram, The X-Files: 5 Things You Should Know About UFOs, Know yourself better to improve your productivity, You Need To Stop Feeling Guilty About Climate Change. Standardization marketing strategy is typically applied to discussion of global businesses and means to market a solution with uniform consistency throughout the marketing mix. Methodology and Sampling We used a descriptive single holistic case study to describe standardization and adaptation international marketing activities of a firm by following the procedure of Yin (2003). This marketing strategy has also several advantages and disadvantages to the firm and the market as well. For decades a key debate in international marketing has been the question of whether it is more appropriate to purse a marketing strategy based on standardisation or adaptation (Vivenne & Tobias, 1999). Leading global media agency network Mindshare is one of the pioneering agencies to embrace and realize the potential of this new marketing approach in today’s world. Heinz, arguably the world’s most iconic brand of the ubiquitous red tomato condiment, sells … Another good example of similar execution from another consumer brand was many successful attempts from Frito-Lay with their new flavours of Lay’s Potato Chips. Disclaimer: is the online writing service that offers custom written papers, including research Dual Adaptation In International Marketing papers, thesis Dual Adaptation In International Marketing papers, essays and others. Adaptive marketing is no different. for online classes for business management degree. That means in terms of target markets, packaging and designs, ingredients, languages, culture and etc the organizations need to come up with different ways … In some cases, companies establish a set price for a good or service that is constant across the business. Journal of Marketing Management: Vol. For example, a detergent powder may communicate that the product gives the maximum whiteness. Adaptation strategies involve changing the price, promotion and packaging of a product, … After Mindshare’s big leap in bringing adaptive method to the forefront, marketing firms across the globe are rethinking their marketing mix and integrating adaptive research to materialize robust communications. The machine tracked the data collected from the consumers to identify the most popular flavours. To take the business to the international level and making the mark in … 19, Marketing to … One of the best examples that justifies and distinctively sets adaptive method apart from the rest was conceived by a people’s favourite brand viz. The brand created a campaign that engaged consumers by asking them to suggest new flavour combinations and suggestions for their popular potato chips. Using consumer data comes with responsibilities. Since there are many potential factors influencing the appropriateness of such a strategy, it is difficult to say when it is best relative to a standardization approach. Apart from the above listed benefits, marketers can expect more implicit benefits from adaptive marketing technique that directly converts to saving more advertising and branding resources. These include: Consumers feel comfortable about sharing their personal data with companies who sell the products or services they need. Product Adaptation Definition | Marketing Dictionary | MBA Skool-Study.Learn.Share. One of the easiest ways to practice this is through Adaptive Marketing. Coca Cola utilized this data to introduce new product variants and flavours that responded to consumer preferences. Because collection and analysis of consumer data has many applications in a growing business, adaptive marketing regards both actual and potential consumers by offering personalized product variants. An alternative, the adaptation marketing strategy, forgoes universality in favor of tailoring marketing to appeal to the cultural or demographic particulars of customers in the new market. Social Media as a whole has had two constants in its relatively short life span on the Internet:. The subject of marketing strategy and marketing mix element adaptation versus standardization has been the subject of much marketing research and debate. Today’s brands have a sense of this shift by focussing on a growing concern, namely, how quickly does things get socialized these days. On t… Getty Images. Adaptive Marketing is the new approach taken by marketers for strategizing marketing efforts by actively tracking and responding to consumers. In a knowledge seminar at this year’s Goafest, Mindshare’s Chief Digital Officer — Norm Johnston remarked while explaining the relevance of adaptive marketing, “If something inaccurate goes out about your brand, a lot of people will still believe it because of the speed of socialization. This data contributes to the aggregated data that currently fuels the Internet. Brand management is vital component of marketing, which makes it of significance for multinational companies to develop clear goals and strategies to achieve them successfully. There is the value for local conditions and opportunities as well. By looking back on the experiences of other multinational companies, we can observe a plethora of costly errors which were committed in an attempt to sell products around the globe. I love writing about the latest in marketing & advertising. They create, consume, and share chunks of online data on a daily basis. The Coca Cola Company set up Coca Cola Freestyle — a data-driven vending machine that allowed customers to mix and create their mocktails with more than 200 Coca Cola products. Firms wishing to expand overseas may opt for a standardization strategy to gain economies of scale and scope and to build a unified brand image with consistent standards. (Roger, 1995). This practice encourages transparency between the brand and the consumer. ADVERTISEMENTS: This article will help you to differentiate between Product Standardization and Product Adaptation. Let's stay in touch :), Your email address will not be published. Required fields are marked *, Copyright © 2020 Marketing91 All Rights Reserved, Adaptation of product or Product adaptation, Research Techniques - Top 10 Market Researches Methodologies, Adoption theory - Theory of product adoption. Despite the long-standing interest in the topic, Dual Adaptation Explanation Dual adaptation is the adaptation process in which company changes their marketing strategy for an internal market. March 12, 2018 By Hitesh Bhasin Tagged With: MARKETING BASICS. Product adaptation is the modification or changing the features of a product to reach new customers or new markets. International markets will likely have differences in language and culture, which means... Legal and Regulatory Adaptions. The drawbacks include potentially alienating consumers, misaligned positioning, Interpreting the nature and benefits of the adaptive method, we can evolve a rigid understanding of this dynamic approach that turns out to be a permanent game-changer in the age of digital. And if the brand delivers, they have a fair chance to gain the loyalty. Owing to the nature of the Internet, this data is spread everywhere in the online realm. Adaptation strategy offers advantages of meeting differences of local markets at various levels, and in this way achieving greater levels of customer satisfaction. This product adaption refers to the process of modifying the existing products in order to reach to each market. When collecting consumer data to construct a marketing strategy, brands should allow consumers to know how their preferences are going to be used by the brand. Difference # Product standardization: Product standardization refers to marketing a product in the overseas markets with little change except for some cosmetic changes such as modifying packaging and labelling. Product adaptation is vital for companies that export their goods to foreign nations as it enables them to meet the foreign laws and re… It refers to changing or reforming (adapting) a firm’s marketing mix to suit to the particular geography in which the firm is operating. If adaptive marketing aims to achieve anything more important than sales, it is consumers’ trust. SUMMARY OF BEST AVAILABLE EVIDENCE Because this accumulated data proves to be a boon for the marketers of today. While adapting marketing strategies and marketing mix elements often takes more time and effort to develop and implement and is often costlier than standardized approaches which benefit from larger economies of scale, the potentially greater market receptivity to adapted offerings may make such a costlier approach worthwhile over the longer term. The main causes of standardization and adaptation in marketing mix activities (Adapted from Nguyen, 2011) 4. It refers to changing or reforming (adapting) a firm… A business may change its brand name in a new market where there is heavy usage of a foreign language. Traditionally, product adaptation has been taken to mean modifying in-house products but it also involves taking points from a competitor’s product. Not only are people becoming increasingly connected to the internet, objects are also becoming ‘smarter’ and more connected. There are several product adaption strategies that an entity can use such as product, target market, package and design, ingredients, language, culture, religion etc. More reading on business challenges from Digital Spark Marketing’s Library: Adaptation … 5 Awesome Business Examples for Study 13 Requirements to Improve Business Performance How to Change the World … 9 Amazing Ways Mike Schoultz is a digital marketing and customer service expert. Study online communication adaptation explanation with marketing terms to prepare course for online colleges for business administration. Adaptation: Standardisation: 1) Application in Marketing Means: It is supported by strong market variety especially by market individualism and market uniqueness. In international marketing, adaptation is an essential consideration when marketing to multiple countries or cultures where there are likely to be significant differences in consumer wants and needs relative to a particular product or service offering. Marketing managers involved in international or regional marketing should consider the potential for adapted marketing strategies or marketing mix elements. What Marketing Trends to Expect in 2021. So, let’s move on to the next important segment of the topic; Currently we live in a world where everything is inter-connected with one another. Adaptations in International Marketing Adapting the Brand Message. Learn "Communication Adaptation" definition in marketing with the explanation to review What is Communication Adaptation? Raw consumer data that is collected, analyzed and segmented helps marketers to analyze and chalk out the current consumer trends and align their marketing strategies after carefully observing the derived consumer behaviour. Billions of people are connected to the Internet today. Just this year we, have seen these two principles displayed in full force across the Social Media landscape. For instance, a company that uses the idea of systematic adaptation can succeed in the competiti… Any kind of marketing requires a domestic communication concept that can manifest the true potential of the strategy. Though this data is collected to fulfil a specific purpose, it can give major insights about the consumer behaviour and preferences that can later be used to craft new strategies. It reaches places where there are people to look at it, as well as places which lacks an audience. Consequently, the current research paper explores the concept of glocalization and its connection to the concept of standardization and adaptation in marketing literature. marketing in the 21st century receives significant research attention, it seems the cost benefits and administration of standardization strategies has simplified the international marketing approach as well as being an attractive choice for many firms. Adaptive marketing is an approach that enables marketers to tailor their activities in unparalleled ways to meet their customers’ interests and needs based on recorded data. I am a serial entrepreneur & I created Marketing91 because i wanted my readers to stay ahead in this hectic business world. Online writing service includes the research material as well, but these services are for assistance purposes only. You can follow me on Facebook. Product adaptation uses the strategy of a follower. Product adaptation is often essential for successful international sales. It’s not just about advertising, adaptive marketing can result in an overhaul of entire marketing strategies by adapting every part of the marketing mix as well as the product itself to connect more consumers with the brand. Studying standardization and adaptation in marketing is strategically significant for the students doing courses in management and marketing. Many consumer-submitted flavours were picked up by the brand and were introduced in the market. It is actually scary.”. These new age connected devices represent new marketing opportunities for advertisers. The adaptive approach can boost results and improve sales if the marketers have a robust brand communication model in place. Followers of standardized strategy state that the international market has become homogenized and thus, these firms can market their commodities similarly across the globe. Adaptation or Standardisation in the world marketing field. Standardization Vs Adaptation Marketing Essay. The benefits reaped can impact the brand’s identity in the long term. Companies should apply the four basic marketing instruments (4P 5) in the same way world wide and ignore national specialties in … And it continues to accumulate. This is a strategy mostly used by Multi-National Companies(MNCs). The beauty of this type of consumer marketing is that consumers will be much less likely to switch brands, since the product ceases to be a commodity and becomes more integrated with the consumer. It allows them to satisfy individual consumer needs in relation to a given brand. Communication Adaptation definition and explanation in marketing. Strategies and Modern Skills to Learn, What is Bloom’s Taxonomy? These errors can be partly attributable to the insufficient awareness of how Standardization and Adaptation work in international markets. By creating audacious brand experiences, a brand can be deemed successful in the market’s view. Why am I stating the obvious? Which brands have adapted to this approach? Revised Taxonomy and its Uses, Effective Management | Functions, Characteristics and Tips. That is the new product is based on improvements or modifications made on existing products of the company or of the competitors product. It optimizes the brand experience on the part of the consumer and strengthens the brand’s loyalties. In international marketing, adaptation is an essential consideration when marketing to multiple countries or cultures where there are likely to be significant differences in consumer wants and needs relative to a particular product or service offering. This benefited the brand by widening its brand awareness and satisfying consumers by transforming collected data into tailored products. On the other hand, product adaptation strategies are also being considered as Adaptation strategy implies changing various aspects of products and services to a considerable extent in order to meet the needs of consumers in international markets taking into account their differences (Chung, 2009). This is an opposite approach to an adaptation strategy, under which multinational companies differentiate their product and adapt it to fit the unique needs of countries. This campaign garnered many consumer impressions and leveraged the reach of TV advertising to direct the communication. Predictions for brands in a cookie-less, post-pandemic world. Social Media, Digital Marketing & Adaptation. Structuring the marketing mix around this basic concept can strengthen and develop new formulae for enhancing customer experiences, without hefty expenditures. Your email address will not be published. The regular topic in international marketing is whether multinational firms need to plan for adapted or standardized marketing strategy is immensely debated in scholarly setting and is a major issue to all multinational firms and marketing individuals. Definition. As the decision to adapt such offerings is highly context dependent, research assessing the market, industry, and competition will be essential. It is a communication strategy through which companies introduce their products in a new country. Integrating Adaptation and Standardisation in International Marketing: The AdaptStand Modelling Process. 4 days ago . Through the adaptive technique, brands have a good opportunity to become more like people that they cater to. Stay clear-eyed with future forecasts. If you are still contemplating to adapt your brand’s identity to the one’s which you hope to see in the consumer’s eyes, maybe you are looking in the right place to start. Heinz. Even highly standardized firms such as McDonald’s still find it is strategically desirable to engage in limited adaptations to local tastes for their sandwich offerings, for example. Using similar approaches will lead to higher margins and reduced costs. Aside from the standardization method, the firm can decide to use the adaptation method to their products. There will likely be differences in business regulations and … This research paper examines the issues of standardization (global strategy) and adaptation (customization) in global marketing strategy and suggests methods that can guide multinational companies compete effectively and efficiently within the international markets. This approach has the advantages discussed below for both the customers and the company globally and locally (Solberg 2000). The Trish McEvoy is an international brand which has prior experience of the international market as there a… With an aim to integrate adaptive research that can be put to use to build holistic marketing approaches, Mindshare has also introduced a computer software called ‘The Loop’ that makes adaptive marketing a reality. Coca Cola. The marketers have a robust brand communication model in place contributes to the Internet, this data is spread in... Business world for strategizing marketing efforts by actively tracking and responding to consumers used by companies! Local markets at various levels, and share chunks of online data on a daily.... Short life span on the adaptation in marketing, objects are also becoming ‘ ’... Their personality throughout this process, brings more value to the aggregated data that currently the... Course for online colleges for business administration s Taxonomy them the opportunity to become more like people they! 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