Global Marketing

Question 1

What are Domestic/Ethnocentric approaches to global marketing?

Answer 1

Assumes that what works in home markets will also work in international markets

Effective if international consumers value authenticity

Question 2

What are Mixed/Geocentric approaches to global marketing?

Answer 2

Recognises differences in national markets

But main aim of marketing strategy is to build a truly global brand

Question 3

What are International/Polycentric approaches to global marketing?

Answer 3

Recognises that every national markets requires a different marketing mix

Products designed specifically to meet local needs

Question 4

What is glocalisation?

Answer 4

Describes a product or service that is developed and sold globally, but is also adapted to meet the needs and wants of customers in a local market

Question 5

What is the Bartless and Ghoshal model?

Answer 5

indicates the marketing strategy options for businesses wanting to manage their global marketing based on two pressures: Local responsiveness and Global integration”

Question 6

How does Ansoff’s Market Development strategy link to global business?

Answer 6

A growth strategy where the business seeks to sell its existing products into new markets

Question 7

What is the evaluation of market development?

Answer 7

A logical strategy where existing markets are saturated or in decline

Often more risky than product development - particularly expansion into international markets

Existing products may not suite new markets: depends on customer needs