4.3.1

Question 1

Polycentric

Answer 1

When you completely adapt the marketing mix to maximise sales in different countries

Each host country is unique

Question 2

Ethnocentric

Answer 2

A business which believes that a success in one country can to all other countries

Question 3

Geocentric - Mixed approach

Answer 3

Have some of the advantages of a standardised global approach to get EoS but cater for needs of individual markets to maximise sales

Question 4

Adaptation of 4Ps - Product

Answer 4

Product - Standardised

Travel, media and the Internet’s, world is getting smaller easier to market a product that is known globally

Question 5

Ansoffs matrix

Answer 5

A management tool that helps business leaders to decide how to grow their business

Question 6

Adaptation of 4Ps - Place

Answer 6

Place - Standardised
Distribution in national markets such as the UK will involve goods being moved in a chain from manufacturer to wholesaler
Place - Adapted
Manufacturer > Agent > Wholesaler > Retailer > Consumer

Question 7

Adaptation of 4Ps - Price

Answer 7

Price - Standardised
Setting international prices is very complex
Price - Adapted
Businesses need to consider:
Cost of transport tariffs or import duties
Exchange rate fluctuations
Personal disposals incomes of target market

Question 8

Adaptation of 4Ps - Promotion

Answer 8

Promotion - Standardised
Can be used internationally
Reduces cost and ensures brand is known
Promotion - Adapted
What works in one country could cause offence in another country