Glocalisation

Question 1

Define Glocalisation

Answer 1

Globalisation + Localisation

• Global customer sales, yet reflecting local wants, needs, tastes and preferences
  e. g. McDonalds adapting their food for Japan, India, Greece, Egypt

Question 2

Ethnocentric

Answer 2

Domestic approach: What is good for global markets = good for domestic markets
>Same product marketed to all (overseas & local)
e.g. Sony Playstation 4

Question 3

Polycentric

Answer 3

International brand, yet adapting product to local markets

Question 4

Geocentric

Answer 4

Mix of international & domestic
‘Think global, act local’
Maintain and promote global brand name, but tailor products to local markets

Question 5

Ethnocentric advantages

Answer 5

Economies of scale (reduced cost of raw materials due to larger scale of production)
+Lower cost of development

Question 5

Ethnocentric advantages

Answer 5

Economies of scale (scale of production = larger > reduced costs of raw materials)
+Lower cost of development

Question 6

Polycentric advantages

Answer 6

Targeted products for different markets > higher sales

Question 7

Geocentric advantages

Answer 7

Tailoring products to local tastes & needs > higher sales