4.3 Flashcards
1
Q
Glocalisation
A
The process of adapting global products or services to local markets
2
Q
Ethnocentric
Definition and benefits and drawbacks
A
Marketing strategy where the business does not adapt to the international market.
+ economies of scale , strong brand
- less effective in new cultures
3
Q
Geocentric
A
Slight adaptations of the business to fit each individual market
4
Q
Polycentric
A
Completely adapting the brand for different cultures
+ expensive
+hard to launch and compete with established local brands
5
Q
Features of global niche markets
A
- quality
- excellent customer service
- expertise in the area
-prioritising profit over market share
6
Q
Transmission of desirability
A
Highly desire able and exclusive brands are often as exclusive in another country
7
Q
Cultural and social barriers to businesses
A
- Cultural differences , politeness, hostility ect
- Language differences , confusion and misunderstanding
- Unintended meanings - bad marketing ect.
- Different tastes