global niche market and marketing styles

Question 1

ethocentric marketing

Answer 1

no adaptations
for domestic market
business model and marketing strategy is same in domestic and international markets

Question 2

benefits of ethocentric

Answer 2

less time consuming as don’t need to rethink brand
less market research required
don’t need local experts
maintain brand recognition

Question 3

limitations of ethocentric

Answer 3

not relatable to all customers
marketing may be ineffective
higher risk

Question 4

example of ethocentric

Answer 4

apple

Question 5

polycentric marketing

Answer 5

full business model and strategy is adapted for different markets

Question 6

benefits of polycentric

Answer 6

suits each market better
translates better
differentiate from competitors

Question 7

limitations of polycentric

Answer 7

time consuming to develop new strategy
large amount of market research required
expensive
need local experts

Question 8

example of polycentric

Answer 8

tesco fresh and easy

Question 9

geocentric marketing

Answer 9

branding stays the same (e.g name) which some adaptations to market

Question 10

geocentric benefits

Answer 10

differentiate from competitors
globally recognised
maintain aims and objectives
spreads risk

Question 11

limitations of geocentric

Answer 11

need local experts
expensive to keep up brand and adapt
high cost of market research
mixed feelings of consumers (confused)

Question 12

example of geocentric

Answer 12

Macdonalds