Global marketing Flashcards Preview

Business Theme 4 A Level > Global marketing > Flashcards

Flashcards in Global marketing Deck (7)
Loading flashcards...
1

What is glocalisation?

to adapt to local expectations in order for a business to succeed in an international market "think global, act local"

2

What are the types of market approaches?

- Ethnocentric (overseas market similar to domestic market)
- Polycentric (product adapted to local market)
- Geocentric (combination of ethnocentric and polycentric)

3

How might a business use Ansoffs Matrix and the marketing mix globally?

Price ; local factors (incomes/taxes)
Product ; ethnocentric/polycentric/geocentric
Place ; local environments
Promotion ; language differences

4

How might a business use Ansoff's Matrix globally?

Market penetration (existing product, existing market) ; adapt product
Market development (existing product, new market)
Diversification (new product, new market)

5

What are the features of a niche?

- Emphasis on quality
- Excellent customer service
- Expertise in product area
- Innovative

6

How might a global niche business use the marketing mix?

Product ; quality
Price ; high
Promotion ; brand name, exclusivity
Place ; networks of exclusive distributors

7

What are cultural and social factors a business should consider?

- cultural differences
- different tastes
- language
- unintended meanings
- inappropriate translations
- inappropriate branding and promotion