4.3

Question 1

Ethnocentric/domestic approach

Answer 1

Where a business approaches the world primarily from the perspective of its own culture. Products and marketing are not adapted

Question 2

Geocentric/mixed approach

Answer 2

A combination of both Ethnocentric and Polycentric marketing. Maintain and promote the global brand name, but tailor its products to local markets

Question 3

Glocalisation

Answer 3

A marketing strategy that adapts a global product or service to suit differing tastes and preferences in different regions e.g. ‘think global, act local’

Question 4

Polycentric/international approach

Answer 4

Where a business considers each host country to be unique. Businesses adapts their marketing mix to these individual markets to maximise sales

Question 5

Cultural diversity

Answer 5

Recognition that people across the globe have different interests and values

Question 6

Global niche market

Answer 6

Smaller, specialised parts of a global market where there are specific customer needs in more than one country are not met by the global mass market