Global marketing

Question 1

Glocalisation

Answer 1

Businesses keep global brand image constant but localising products

Question 2

Glocalisation in differnent markets

Answer 2

-Important in mass markets to be different in different countries e.g. Starbucks
-High-end niche markets can be similar globally, don’t adapt. e.g. Louis Vuitton

Question 3

Strengths of global brands

Answer 3

-EOS-produce the same good
-Offer reassurance to customers when abroad
-Global marketing tools-event sponsoring e.g. World Cup, only economic if the brand is global

Question 4

Strengths of glocalisation

Answer 4

-Tailoring to local tastes
-Local customers assume you’re a local business
-Innovate products for local tastes, could become a global success

Question 5

Ethnocentric

Answer 5

-Believe all markets are the same
-Won’t meet local needs

Question 6

Geocentric

Answer 6

-Believe people share some common characteristics
-Small adjustments for local markets

Question 7

Polycentric

Answer 7

-Believe all markets are different
-Products designed for local markets
-High costs