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Global challenge 1 One of the challenges that an organization is most likely to face in developing and launching its products in the international market is its management efficiency with respect to the production process. This challenge was particularly identified in the development of Hexopater. Management of the production process of a product, whether a locally marketed product or one that targets the international market, has many impacts on the quality of the product to be produced as well as the reliability in the continuous flow of the product into its market. An effective management of a production process begins with development of aims of the production as well as the features of the product, a stage that is crucial and defines the destiny of the product. Inability to develop focused goals that can yield a successful production as well as failure to identify captivating features that will attract customers therefore forms a significant challenge to product launch in the global market. This is because a challenged set of development goals, coupled with poor specification may lead to poor standards that may not be acceptable for clearance across borders (Kumar and Addie, 2006). ...
This is because the human resource competence level is reflected in the production process, quality and the image that consumers and even regulatory bodies develop over a product. The overall plan of the production process as well as sales initiatives also determines the extent of challenges that a product can experience in penetrating an international market. Management of the production process is therefore a significant challenge in any product development as it applied to Hexopater (Kumar and Addie, 2006). Global challenge 2 Another challenge facing development of products in global markets is the level of regulations that are instituted by different territories. Though most regulatory measures are meant to check on safety of products to be allowed from other economies, some regulatory measures are done on economic grounds. The impact however remains the same, that regulations undermines the ability to develop and market a product in the international market. An example of such regulation is the European union’s move to regulate “tissue related products” (Dodin, 2010, p. 1). This particular regulatory initiative was meant to harmonize laws in the region and to ensure that the developments in scientific processes are monitored and regulated effectively. While the regulations ensured common application of rules in the region, it influenced original regulations in each countries in either way. It either lowered standards for the countries that were highly regulated and raised standards for countries that were poorly regulated. The greatest challenge to new product development in the region would therefore be significant in the countries that were previously less strictly regulated. A firm ...Show more


MARKETING Challenges faced by a company when developing new products in the global economy The need to explore new business ventures drives enterprises into designing new products as well as introducing their existing products into new markets. Existence of barriers into markets however exists posing challenges to the development of new products in international markets…
Author : rcruickshank
Marketing Research Paper
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