Relationship between the psychic distance and product strategies in international marketing: An empirical assessment

Export is one of the preferred ways for the firms in entering foreign markets to present their products. Especially in recent years, export activities become much more intensive due to the conveniences confronted by the firms. They find themselves in a serious competition to be succeeded in export activities. Hence, they are trying to be able to produce the products that satisfy the wants and the needs of the target market in a best way. Psychic distance of the target market from the home market, is substantially determining in making decisions on product strategies. Managers are making some adjustments in marketing strategies according to the distance of the market. The main aim of this study is to reveal the relationship between the psychic distance and product strategies. Thus, an empirical research was carried out on the Turkish exporting firms in the area of sugary and chocolate products. The contact information of the firms was provided from Export Promotion Center of Turkey. The data were collected by survey technique in the study. It was requested to fill the questionnaires by the owners of the firms/managers responsible for the international marketing operations of the firm. Surveys were sent to the respondents by electronic mail. The surveys were responded fully by 164 firms. At the end of the study, it was concluded that psychic distance has an influence on the product strategies of the firm.