4.3 Global marketing

Question 1

Pros of an Ethnocentric (domestic) Approach

Answer 1

• recognise brand image
• Lower Costs
• Easier management

Question 2

Cons of an Ethnocentric (Domestic) approach

Answer 2

• Low Customer engagement
• Competitive disadvantage
• regulatory Challenges

Question 3

pros of taking geocentric (mixed) Approach

Answer 3

• balanced approach (less risky)
• appeals to both audiences
• Strong brand recognition

Question 4

Cons of taking Geocentric (mixed) approach

Answer 4

• High Costs
• integration challenges
• balancing both can slow decision making

Question 5

pros of poly centric (international) approach

Answer 5

• Cultural sensitivity
• Local competitive edge
• fewer regulatory issues

Question 6

Cons of poly centric (international) approach

Answer 6

higher costs
inconsistent brand image
No global standardisation

Question 7

pros of operating in Global Niche market

Answer 7

• Reduced competition
• high profit margins
• Specialisation

Question 8

Cons of operating in Global Niche market

Answer 8

• Limited market size
• High marketing costs
• difficult to scale

Question 9

what are Cultural/Social barriers that businesses must be careful with

Answer 9

• Cultural differences
• Unintended meanings
• language differences
• Different tastes