MinisterQuetzal2656
MGT1211Development of Products and Services for a Global Market…
MGT1211Development of Products and Services for a Global Market
Major Project – Research Assignment
Objective of the Assignment CLRs 1, 2, 3, 4, & 5:
1. Determine whether existing products for potential global markets meet
local compliance requirements, use the best design options, and incorporate
culturally appropriate design features.
-Service: Projects (Architectural/Interior Design) for residential adaptation for the elderly.
Target Market: Japan (high and growing number of elderly population)
2. Maximize output and minimize costs and risks by adapting products for
the target market based on customer specifications and regulations.
– outsourcing of the supply of products foreseen in the residential adaptation project for the elderly.
– outsourcing of labor to provide installation services for the items specified in the project. Preferably, that the company supplies the equipment/product is the company that will do the installation.
-Hiring local professionals, helping with the language and other peculiar issues, legislation and culture in Japan, among others. There is a need to train this workforce to provide adequate and quality care for this senior public and deepen their knowledge of the service to be provided.
3. Build and support a positive corporate reputation in the target market by
supporting local communities, meeting customers’ cultural needs, operating
in an environmentally responsible manner, and incorporating all legal and
regulatory requirements into corporate activities.
– mixing online and offline strategies. The older demographic has Facebook (about 22% of users are age 55 or older) and also enjoys watching YouTube, Netflix, and Hulu. However, they will still respond positively to face-to-face interactions, therefore training local representatives (professionals in the areas: interior design, architecture preferably) who may have adequate knowledge to serve this audience and high knowledge of the service in question, as well as , be trained to assess the client’s residence and point out the necessary changes, in addition to the demands pointed out by the client.
-As a way to build a positive corporate reputation in the target market,
support campaigns for local communities, aiming to provide free service to some institutions aimed at the elderly, meeting the demands of adapting this space, from the smallest requirements to the most technological demands. Thus, it gains visibility in the target market, reputation, credibility, portfolio, in addition to generating spontaneous marketing (as part of the integrated media and form of Institutional Marketing). Promoting engagement in the target audience to such an extent that it becomes a spontaneous vehicle for the brand precisely because it strongly identifies with its products, services and values.
4. Describe service offerings based on appropriate design and development
processes to enable service providers to make services more useful, usable
and desirable for clients.
Architectural projects/interior design focusing on structuring a smart and safe home environment for the elderly population. Using the simplest resources on the market to the highest technology. In order to guarantee a better quality of life for this target audience.
-Using of App to help the elderly to see options and also, to scan the room to receive a simulation of the itens/ modifications proposed to improve their safety and life quality. Option that excludes the presence of a professional in person for assistance and reduces the final cost of the service offered.
5. Describe the risks, current trends and mitigation strategies associated
with Intellectual Property Protection when developing and adapting services
for global markets.
Risks: Intellectual property (protection of the concept of the product offered, as well as the app that must be registered. Construction laws, intervention/service/installation laws in buildings, residences (hours and criteria). Work laws. Consumer laws.
Above in Bold is requeriments and the other part my brainstorm as a starting for a depth research on the country where i am trying to sell this product/service, using valid and reliable sources
1. Identify the regulations, conventions, policies, standards, IPR,
accrediting agencies regulations &/or standards, etc. that apply to the
product or service and its industry.
2. Review similar products or services of companies that may have tried
had success or failures introducing their adapted products to your
target market.
3. Indicate the steps you went through to justify your choice of product
or service and country.
4. Highlight the learning from the lectures, class discussion, etc. that
supports your analysis/research
Step 3 Identify the adaptations that are needed to enter target
market:
1. Identify any emerging topics, processes, trends, updates, technology
in each stage such as the application of new and innovating
technologies that may aid in your product or service adaptation for
your marketplace (e.g. AI, new international trade rules, etc.)
2. Describe product liability legislation of international markets, and the
related risks and mitigation strategies to consider when producing
goods for the global market.
2 | P a g eStep 4 Create product or service adaptation plan for the global
marketplace
With all the information you have researched, collected and analysed
indicate:
1. Apply your course learning to this step.
2. Using the stages of product development and adaptation or the service
development cycle illustrate how you would advise the company to
adapt their product or service for the target market.
3. What strategies would you use to ensure your adapted goods or
service will be able to access the target global market smoothly
4. How would you use international regulations, policies, standards, etc.
to leverage your company’s adapted product or service in the target
market?
5. What are the risks associated with adaptation plan and what risk
mitigation strategies will be employed.
6. Indicate how any of the these can be assimilated into your company’s
adaptation process or market entry strategies.
