4.3 Flashcards
Glocalisation
The adaptation of a global marketing strategy in order to meet the requirements of local geographic markets
Ethnocentricity
Where the promotion of the product is undertaken based on the beliefs of the home nation
Poly centric
The promotion of a product is undertaken based on the beliefs of the nation in which the business is operating
Geocentric
The promotion of the product is undertaken based on a global or worldly point of view
Cultural diversity
The range of different people within a society
Global businesses must access different cultures if they are to be successful in future
Global market niches
Subcultures in world society, these can be identified as market segments on a global scale
Although niche markets are smaller target markets on a global scale this can be sizeable
Cultural considerations for businesses
- cultural differences
- language barriers
- unintended meanings
- inappropriate and inaccurate translations
