So it happened that our class was already occupied by some other group, we re-organized ourselves in the nearby class (with no windows so no sun shine).
Paul's lovely gesture of bringing tea and chocolate for us is always a nice feeling and a percentage of it brings me to class on every Saturday.
- We started with a 'thinking out of the box' exercise. A case was given to us and we had to present it in more reader friendly text and then in Pictorial form according to BCG (Boston Consulting Group) Matrix. I didn't knew about BCG Matrix, so I made my own thing.
- What I discovered during the exercise that thinking out of the box means closing your mind to other trivial activities happening around you and the information trash in your head. This is the only way by which you can really think out of the box. I also learned about the importance and essence of reader friendly text and Pictorial depiction of information.
- Then we moved ahead with some examples on adaptation of local preferences and culture by a product in order to have a proper and smooth induction in the market. We did an exercise in which we tried to adapt and market a product in a foreign land. The decision necessary for this specific exercise was, Do we really need to adapt something or to what degree we have to change the product? My group had Bandana as our product to be marketed in Japan. We made a Kotler's Diagram for the Bandana and then gave appropriate responses according to the adaptation possibilities. I learned about how a product can identify the possibilities of an entry in to a foreign market without hurting its companies global goodwill. It can be done with the help of culture and preference study of that foreign market.
All in all a nice week and good stuff to work on for the team project.
Cheers!
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