Global marketing

Question 1

What is glocalisation?

Answer 1

to adapt to local expectations in order for a business to succeed in an international market “think global, act local”

Question 2

What are the types of market approaches?

Answer 2

• Ethnocentric (overseas market similar to domestic market)
• Polycentric (product adapted to local market)
• Geocentric (combination of ethnocentric and polycentric)

Question 3

How might a business use Ansoffs Matrix and the marketing mix globally?

Answer 3

Price ; local factors (incomes/taxes)
Product ; ethnocentric/polycentric/geocentric
Place ; local environments
Promotion ; language differences

Question 4

How might a business use Ansoff’s Matrix globally?

Answer 4

Market penetration (existing product, existing market) ; adapt product
Market development (existing product, new market) 
Diversification (new product, new market)

Question 5

What are the features of a niche?

Answer 5

• Emphasis on quality
• Excellent customer service
• Expertise in product area
• Innovative

Question 6

How might a global niche business use the marketing mix?

Answer 6

Product ; quality
Price ; high
Promotion ; brand name, exclusivity
Place ; networks of exclusive distributors

Question 7

What are cultural and social factors a business should consider?

Answer 7

• cultural differences
• different tastes
• language
• unintended meanings
• inappropriate translations
• inappropriate branding and promotion