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Flashcards in global niche market and marketing styles Deck (12):
1

ethocentric marketing

no adaptations
for domestic market
business model and marketing strategy is same in domestic and international markets

2

benefits of ethocentric

less time consuming as don't need to rethink brand
less market research required
don't need local experts
maintain brand recognition

3

limitations of ethocentric

not relatable to all customers
marketing may be ineffective
higher risk

4

example of ethocentric

apple

5

polycentric marketing

full business model and strategy is adapted for different markets

6

benefits of polycentric

suits each market better
translates better
differentiate from competitors

7

limitations of polycentric

time consuming to develop new strategy
large amount of market research required
expensive
need local experts

8

example of polycentric

tesco fresh and easy

9

geocentric marketing

branding stays the same (e.g name) which some adaptations to market

10

geocentric benefits

differentiate from competitors
globally recognised
maintain aims and objectives
spreads risk

11

limitations of geocentric

need local experts
expensive to keep up brand and adapt
high cost of market research
mixed feelings of consumers (confused)

12

example of geocentric

Macdonalds