Successful Globalization of Parochial Products

Abstract

Realizing how often products fail and how many attempts at globalization have met with less than satisfactory results, it is extremely important that a systematic orientation be taken in attempting to globalize. This paper presents a theory to explain why some products succeed globally, whereas others fail. More specifically, the authors first assess what the product characteristics and market considerations of successful global products should be. Secondly, they explore the relationship between successful global products and human needs, before they finally develop alternative strategies available in the globalization process.