4.3

Question 1

what is global marketing?

Answer 1

• often need to adapt their marketing strategies to meet the needs of an international customer

Question 2

what are the 3 different approaches to global marketing?

Answer 2

• ethnocentric
• polycentric
• geocentric

Question 3

what is an ethnocentric approach to marketing?

Answer 3

• little/no attempt to adopt to the international market

- maximises the appeal and unique features of such things like regional foods

Question 4

advantage an ethnocentric approach

Answer 4

• standardisation and economies of scale

Question 5

weakness of an ethnocentric approach

Answer 5

• may not take into account cultural differences

Question 6

what is a polycentic approach to marketing?

Answer 6

• complete overhaul of marketing and the product to suit a particular international market

Question 7

strength of a polycentric approach?

Answer 7

• products are better targeted to meet the needs of specific countries and cultures

Question 8

weakness of a polycentric approach?

Answer 8

• this approach is expensive, may be difficult to launch new versions in order to compete with established businesses

Question 9

what is a geocentric approach to marketing?

Answer 9

• slight adaptations and tweaks to suit each international market, ‘glocalisation’

Question 10

strength of geocentric marketing?

Answer 10

-products may be tailored to the local market with lower development costs

Question 11

changes in the marketing mix in an international market?

Answer 11

product- does it need to be adapted
price- suit to local market
place- best channel of distribution
promotion- most effective method in country?

Question 12

features of a global niche market?

Answer 12

• Clear understanding of the needs and wants of customers
• Emphasis on quality
• Excellent customer service
• Expertise in the product area
• Prioritising profit rather than market share
• Innovation

Question 13

why may highly specialised products find it easier to expand?

Answer 13

• this specialist knowledge may not already exist in other countries

Question 14

factors contributing to international desirability?

Answer 14

• The internet and e-commerce
• Social media
• Ease of travel
• Music, film and TV

Question 15

niche marker and the marketing mix?

Answer 15

product- quality, premium service
price- high profit margin
promotion- exclusivity
place- narrow range of channels

Question 16

what are cultural and social barriers?

Answer 16

• cultural differences
• language differences
• different tastes
• unintended meaning/bad branding