4.3.1 Marketing

Question 1

What are the three marketing stratergies?

Answer 1

Ethnocentric
Polycentric
Geocentric

Question 2

What is Ethnocentric marketing?

Answer 2

Stratergy is based on concepts and values of the “Home country” (Toblerone)

Question 3

What is Polycentric marketing?

Answer 3

Startergy is adapted to suit “Host” Countrys values and culture (Walkers)

Question 4

What is Geocentric marketing?

Answer 4

Elements of global brand adapated to local cultures (Mcdonalds)

Question 5

What is the EPG framework?

Answer 5

Ethnocentric
Polycentric
Geocentric

Question 6

What are some Benefits of Ethnocentric?

Answer 6

• Strong brand image (No brand dilution)
• Easily recconisable
• Less costs invloved to develop diffrent stratergies
• Gain Provenance (people care bout the Sourcing)

Question 7

Whare are some Downsides of Ethnocentric Marketing?

Answer 7

• Marketing may not suit local culture
• Customers needs might not be met (Cost, Aesthetics, Specification)
• No gap in market to much compeition

Question 8

What are dome downsides of Polycentric marketing?

Answer 8

• Dilute brand idenetity

- Costly to revdevelop (Market research, NewProduct development, rebranding, new Add campaigns, New suppliers)

Question 9

What are some benefits of Polycentric?

Answer 9

• Adapted to market therefore more likely to meet customer needs
• FIts with local culture
• Could find gap in the market

Question 10

What are some benefits of Geocentric?

Answer 10

• Consistant brand imahge
• Maintain provinance
• Adaptation to the market to fit needs of customers

Question 11

What are some negitives of Geocentric?

Answer 11

• Costs money to adapt elements

- Not evenyone likes globalisation