The firm is targeting female clients aged 20 to 35 in Germany and England. This differs from the target market of the same product in the US which is aged 21 to 38. The kitchen appliance product has been designed for middle and upper income clients. This product has several features that appeal to consumers’ interests.
It has also several models that are priced differently to ensure crucial needs of various users in both markets are satisfied. The criteria used to define these target markets focuse on cultural, social and economic aspects that enable the firm to identify specific attributes of customers existing there ( Panda, 2008, p. 67). The marketing mix assessment to be used will focus on consumers’ lifestyles, income levels, and specific consumer habits that define them.
The target market of this product in the US will include women aged 21 to 38. These consumers are known for their unique attributes and are always willing to try out new products. Therefore, the firm’s kitchen appliance products have been well designed to cater for both indoor and outdoor cooking activities. The product will be launched in Georgia and Florida before it is sold in other areas of the country.
The targeted market segment in Germany and England covers middle and upper class women who have refined culinary tastes (Panda, 2008, p. 72). It is important top mention that the marketing approach used will focus on major cities in the two countries on a six-month test run to understand their interests. The marketing approach used will mainly be used on selling products for indoor cooking activities. So, customers will choose between gas and electric powered products which will be sold in urban areas.
Cultural issues to be considered in the US will relate to eating habits, lifestyles, types of food consumed and the weather patterns. In the US, the product will target customers who prefer cooking their own meals and who have a relaxed lifestyle. The product will mostly be designed to satisfy the needs of young mothers who cook regularly. In England and Germany, people have unique culinary habits that are influenced by different cultural attitudes.
Therefore, the firm needs to sell kitchen appliances that are well designed to cater to their specific culinary habits (Panda, 2008, p. 76). For instance, some models of this product need to be gas powered due to high electricity costs in some German cities which discourage consumers from purchasing electric powered kitchen appliances.
It has been difficult to enforce patent infringements for products patented in the US which are sold internationally. It is worth noting that international intellectual property laws are weak and ineffective. This has barred firms from reaping the rewards of their patented products sold in international markets.
Some foreign governments do not have the will or capacity to punish various forms of patent infringements. In some countries, definitions used to describe particular patented products differ from those used by the US government to patent local inventions and innovations.
This makes it difficult to enforce patent rights of products registered in the US in international markets. Patents are treated as property in the US and they are transferrable to other individuals or corporate firms in the country. However, this is not the case in some foreign countries (Sell, 2003, p. 69). This encourages some individuals and business firms to infringe on patents registered in the country.
In many countries, a person or business that first files a patent is considered the patent owner as opposed to the first person to invent a product. For a long time, the US patent law has identified the first person to invent a product as the recognized owner of a particular patent.
However, the law has changed to conform to international patent registration practices. As a result, business people are likely to be encouraged to register their patents with the patent office before another firm registers it. It also encourages business people to invest in research and development programs to invent new products that are likely to serve various needs in different markets. This encourages a spirit of competition which is vital for positive economic growth (Jordan, 2012).
The first file approach in patent registration exposes some entrepreneurs to potential exploitation by large corporations. These corporations have more financial resources than start-ups which allow them to file patents quicker than individual entrepreneurs. Thus, entrepreneurs who are inventive are denied an opportunity to reap rewards from their ideas. Some venture capital companies fund patented business ideas and inventions which they feel are likely to perform well in the market.
Therefore, an entrepreneur who has a great idea that is not yet patented is likely to lose out in case a big firm registers his/her idea as a patent. This makes it difficult for new enterprises to come into formation and severely affects economic fortunes of small and medium sized businesses (Jordan, 2012). So, these international patent protection practices hinder small enterprises from competing fairly with large and more established firms.
References
Jordan, R. (2012). The new patent law: End of entrepreneurship?Forbes Online. Web.
Panda, T.K. (2008). Marketing management. New Delhi, India: Excel Books.
Sell, S.K. (2003). Private owner, public law: The globalization of intellectual property rights. Cambridge, England: Cambridge University Press.