H5.

The product is the most important element of a company's marketing program. Global marketers face the challenge of formulating coherent product and brand strategies on a worldwide basis. A product can be viewed as a collection of tangible and intangible attributes that collectively provide benefits to a buyer or user. A brand is a complex bundle of images and experiences in the mind of the customer. In most countries, local brands compete with international brands and global brands. A local product is available in a single country; an international product is available in several countries; a global product meets the wants and needs of a global market.

How do you think local, international, and global products differ from each other? Could you explain the differences with relevant examples?