Innovative product marketing strategy: multinational companies in Bangladesh

Fregidou‐Malama, Maria; Chowdhury, Ehsanul Huda; Hyder, Akmal S.

doi:10.1108/jabs-07-2018-0193

Cited by 5 publications

(9 citation statements)

References 43 publications

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“…His research showed that the cultural and market environment can standardize the quality of the product and make the marketing components meet the needs of consumers. He contributed marketing literature based on context, trust, network, and adaptive product marketing model [1].…”

Section: Related Workmentioning

confidence: 99%

Nonheritage Creative Product Design and Development and Marketing Strategies for Computer Vision and User Experience

Liu

Pan

Zhang³

et al. 2022

Security and Communication Networks

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With the rapid development of economic and culture, intangible cultural heritage has gradually moved towards the public, and at the same time, many cultural and creative products have been derived. In the face of fierce market competition, nonheritage and creative products gradually occupied a certain market share with their unique cultural heritage and won the love of some consumers. However, at the same time, the development of nonheritage and creative products cannot keep up with the market that is changing with each other, and the design and development of cultural and creative products are far behind market changes. Moreover, the recognition of some consumers cannot improve the booming development of nonheritage creative products, and the future development of nonheritage and creative products is facing a serious crisis. Computer vision has absolute advantages in image processing, which can help nonheritage products for development and design, and further improve the quality of the product. In the process of designing and developing a certain product, our commonly used research method is user experience. User experience strategies can help us design cultural and creative products that fit the characteristics of the times from the perspective of consumers. This article introduces the basic architecture and guidelines of the user experience strategy. In addition, the main research object of this article is nonheritage and creative products, which aims to explore how to use various design thinking methods to develop more valuable products. On this basis, this article integrates computer vision technology in the process of designing and development of nonheritage cultural and creative products and supplemented by user experience strategies to further innovate the design concept of cultural and creative products. Experiments show that the design and development of intangible cultural heritage products based on computer vision and user experience can effectively improve product quality, and the product qualification rate basically reaches 90%. At the same time, this move can further stimulate consumers' desire to purchase, and their purchase intention can reach up to 72%.

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Section: Related Workmentioning

confidence: 99%

Nonheritage Creative Product Design and Development and Marketing Strategies for Computer Vision and User Experience

Liu

Pan

Zhang³

et al. 2022

Security and Communication Networks

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“…This required international or global brands to use the local power to be accepted in the market [1]. In other words, it is necessary to fully adapt to the consumers' preferences [19] in the region an international brand does business with. Although many books and chapters that we came across suggested adaptation as the main key to enter the global market.…”

Section: Sustainability's Challenge 3: Marketing Activities In International Businessmentioning

confidence: 99%

“…Thus, going international or global is a true challenge that may lead to a very quick failure [22]. However, all constraints are being observed and given directions [1,[19][20][21][22][23] how an international/global brand should behave to succeed in the global arena. In every business attempt, international businesses will use either adapt or standardize [24].…”

Section: Sustainability's Challenge 3: Marketing Activities In International Businessmentioning

confidence: 99%

“…As argued above, there are challenges that were required to overcome and to gain long-term sustainability, which is depicted in Figure 1 below. The figure suggests that if a business goes globally/internationally, besides other factors, it has to observe the adaptation/standardization of products and services according to consumers' wants and demands [1,[19][20][21][22][23]. Besides that, the business should pay attention to managing people locally and expatriates so that they are synchronized and synergetic, which is known as cross-cultural management [41][42][43], which is very critical to manage it efficiently and effectively.…”

Section: Sustainability's Challenge 5: Anti-globalization Campaign and Corporate And Social Responsibility (Csr)mentioning

confidence: 99%

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Sustainability of global and international business operations during the adversity and hardship

Palalić

Hisrich

Dana

et al. 2022

Heritage and Sustainable Development

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The COVID-19 pandemic has altered the way business is conducted. The widespread closure of commercial organizations presents opportunities to reset the way business activities are conducted. Regardless of the organization’s size or its status as a domestic or international firm, due diligence is required to find solutions that will allow firms to sustain their business activities in uncertain times. This study addresses this issue and attempts to identify issues that require urgent attention so that organizations can be effective and efficient in their global operations. In this context, the study proposes three imperatives for global/international businesses to sustain their operations in the long term. These imperatives include having a strong reserve fund, access to a local mutual fund, and networking to form alliances in host countries. Other implications are discussed, and we identify areas for future research.

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“…Dewasiri et al (2021) discuss the importance of understanding cultural dynamism and consider j JOURNAL OF ASIA BUSINESS STUDIES j differences between cultures to develop a successful IM strategy. The laws, regulations and rules in the host country also influence the business environment for an international firm and the IM strategy of a firm (Fregidou-Malama et al, 2019). The literature shows that relationships between stakeholders are affected by social norms and the culture distance between them, and connections are necessary for the development of networking across countries (Narooz and Child, 2017).…”

Section: Definitions Of Institutional and Cultural Contextmentioning

confidence: 99%

International marketing strategy of emerging market firms: the case of Bangladesh

Fregidou‐Malama

Chowdhury

Hyder

2022

JABS

Self Cite

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Purpose This study aims to increase understanding of factors influencing the international marketing (IM) strategy of products from emerging markets (EMs) to international markets. Design/methodology/approach This study conducted case studies by collecting qualitative data through semistructured interviews with respondents from four food product companies in Bangladesh. Findings This study finds that the firms employ local Bangladeshi people who are knowledgeable in the company culture. They strategically focus on countries where the Bangladeshi diaspora lives and initially target them, approaching natives later. They adapt and customize products to the importers’ requirements to make them visible and increase understanding between product providers and local customers. The findings show that EM firms encounter a mentality that poor countries produce poor quality products; this mindset makes the internationalization of their business difficult. Research limitations/implications This research contributes to international product marketing of EM firms by constructing a model of a modern people-oriented marketing strategy for food products. This study contributes to literature on culture by illustrating that the cultural dimensions of collectivism and uncertainty avoidance enhance the development of networks and trust and impact marketing strategy. Originality/value This study theorizes the importance of context and an innovation-driven modern people-oriented IM strategy that adapts to customers’ preferences for food products and emphasizes the contribution of diaspora. This research reveals that Bangladeshi firms face challenges both because customers link the country and the companies to low-quality products and because governmental regulations prevent them from establishing a local presence in other countries. This study analyzes challenges EM firms face in the process of IM and the factors affecting Bangladesh in particular.

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Innovative product marketing strategy: multinational companies in Bangladesh

Cited by 5 publications

References 43 publications

Nonheritage Creative Product Design and Development and Marketing Strategies for Computer Vision and User Experience

Nonheritage Creative Product Design and Development and Marketing Strategies for Computer Vision and User Experience

Sustainability of global and international business operations during the adversity and hardship

International marketing strategy of emerging market firms: the case of Bangladesh

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