4.3 Global Marketing

Question 1

What is glocalisation?

Answer 1

A global marketing approach that maintains a consistent brand and image across the world but makes adaptations to products to suit local markets.

Question 2

What are four strengths of a global marketing approach?

Answer 2

Economies of scale.
Consistency gives reassurance for travellers.
Makes sense to use global promotional tools.
Greater power negotiating with retailers.

Question 3

What are four strengths of glocalisation?

Answer 3

Meet local needs more precisely.
Local consumers may assume you are a local producer.
Adaptations may become popular globally.
Local production may be greener.

Question 4

What are the three different approaches to global marketing?

Answer 4

Ethnocentric.
Polycentric.
Geocentric.

Question 5

What is an ethnocentric approach to global marketing?

Answer 5

Domestic.
Image rooted in home country.

Question 6

What is a polycentric approach to global marketing?

Answer 6

International.
Assumes that all markets are different, adapting the approach to suit each local market at a local level.

Question 7

What is a geocentric approach to global marketing?

Answer 7

Mixed.
Combines aspects of ethno and polycentric holding onto some consistent brand features in all markets but making some changes to suit local needs/tastes.

Question 8

What are the three benefits of selling to niche markets?

Answer 8

Meet consumer needs more precisely.
Charge higher prices than mass market products.
Less direct competition.

Question 9

What are the main cultural and social considerations for businesses when marketing globally?

Answer 9

Cultural differences.
Different tastes.
Language.
Unintended meanings.
Inappropriate / inaccurate translations.
Inappropriate branding and promotion.