3.3.2 demand-side factors in global markets Flashcards
1
Q
What information and communication factors does a firm have to think about when globalising?
A
Language, and unintended means when translating.
2
Q
What are subcultures?
A
Small groups who have shared interests and values in common.
3
Q
Why may a firm operate in a global niche market?
A
Their product may be too niche for a domestic market.
4
Q
How can a firm be successful in a global niche market? [7]
A
- Clear understanding of the needs of customers
- High levels of customer service
- Expertise in their field
- Priorities profit over market share
- Innovation to adapt to change in the market
- Focus on cost efficiency but not at expense of quality
- Adapting marketing mix
5
Q
How might cultures clash in business and cause problems? [8]
A
- Products
- Staff
- Conflict
- Promotions
- Sales
- Images
- Customer expectations
- Body language
