The globalization of markets concept has been ahighlycontroversial
issue in current marketing circles. Somemanagersbelievethefutureof
organizations depends on the successful marketing of brandswithahighly
universalmarketingmixonaworldbasis.Somebelievethatglobal
marketing is impractical and that insensitivity tolocalneedswillmake
the strategy fail. One of the most controversial areas has beenglobalnew
product development. Some managers feel that innovative new globalproducts
are critical. Others believe thatdevelopmentofnewproductsforhome
marketsistheonlypracticalstrategyandthatglobalnewproduct
development is far toorisk-ladenandcomplex.Mostorganizationswere
local in focus and would require majorchangesinstrategy,organization
and process to globalize. The ability to implement such aprogramproperly
may well be a major obstacle. Finding the right peopletocarryoutthis
complex assignment and developing the right organization toaccomplishthe
mission may both be deterrents for many organizations. Theconclusionwas,
however, that in spite of the difficulties, most organizations willinthe
future adopt a global new product strategy. This paper reflects on the future
need for global products taking into consideration the examplesofconsumer
products.Consumerproductsare products thatarepurchasedfor
consumptionbytheaverageconsumer. Alternatively called final goods,
consumergoodsaretheendresultof production and manufacturing
and are what a consumer willsonthestore shelf. Clothing, food,
automobiles and jewelry are all examples ofconsumer goods.
In 1983, Theodore LevittpublishedaprovocativeHarvardBusiness
Review article entitled “The Globalization of Markets”, in whichhestated
that a new global market,basedon …