Glocalisation

Question 1

Define local marketing

Answer 1

Adapting to marketing mix in each country

Question 2

Define Glocalisation

Answer 2

Standardising some of the marketing mix but adapting others

Question 3

Benefits of global marketing

Answer 3

Standardising lowers costs
Marketing EOS
Lowers costs, lower prices to gain market share or high profit margins
OR converging customer tastes

Question 4

Benefits of local marketing

Answer 4

Adapting product increased costs but increased revenue by more
Can differentiate the brand
More price Inelastic (define)

Question 5

Judgement

Answer 5

Achieve “glocalisation”

Eg examples

Question 6

Define global niche markets

Answer 6

Segments of a larger market which are sold all over the worlds

Question 7

Benefit global niche 1

Answer 7

Less competition
High differentiated
Demand price Inelastic (define)
Higher profit

Question 8

Benefit global niche 2

Answer 8

Sales volumes quite high
EOS (define)
Higher prodfit

Question 9

Benefit global niche 3

Answer 9

Spread risk

Less vulnerable to recession in single country

Question 10

Define global marketing

Answer 10

Standardised marketing mix, selling same around world