4.3 Flashcards

1
Q

Glocalisation

A

The process of adapting global products or services to local markets

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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

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3
Q

Geocentric

A

Slight adaptations of the business to fit each individual market

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4
Q

Polycentric

A

Completely adapting the brand for different cultures
+ expensive
+hard to launch and compete with established local brands

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5
Q

Features of global niche markets

A
  • quality
  • excellent customer service
  • expertise in the area
    -prioritising profit over market share
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6
Q

Transmission of desirability

A

Highly desire able and exclusive brands are often as exclusive in another country

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7
Q

Cultural and social barriers to businesses

A
  1. Cultural differences , politeness, hostility ect
  2. Language differences , confusion and misunderstanding
  3. Unintended meanings - bad marketing ect.
  4. Different tastes
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