Global Marketing/ Chapter 21

Question 1

what is the difference between standardisation and adaption?

Answer 1

• In reality, few marketing mixes are totally standardized.
• A useful rule is to standardize where you can, stay local where you must.
• Standardization can create massive economies of scale but full standardization can be difficult.
• Adaptation allows local tastes and preferences to be met but increases costs.

Question 2

what are some difficulties in creating a fully standardised marketing mix?

Answer 2

• culture and consumption patterns
• language differences
• regulations
• media availability and promotional preferences
• organisational structure and culture

Question 3

what are some advertising positioning strategies?

Answer 3

• global consumer culture positioning
• foreign consumer culture positioning
• local consumer culture positioning

Question 4

what are examples of cross-national pricing decisions?

Answer 4

• calculating extra costs and making price quotations
• understanding the competition and customers
• using pricing tactics to undermine competitor actions
• parallel importing
• transfer importing
• transfer pricing
• counter-trade

Question 5

what is the strategies for foreign market entry strategy ?

Answer 5

• cooperative- licensing, joint ventures
• direct investment - new facilities
• exporting- indirect- co-operative organisations
• exporting- direct- domestic based sales representatives, oversea sales/ marketing office, the internet