key terms 4.3- Global marketing Flashcards
what are economies of scale?
savings facilitated by an increased level of production
what is globalisation?
the process of businesses starting to operate internationally and develop international influence
what is a global marketing strategy?
the process of adjusting a company’s marketing strategies reflect conditions, consumer tastes and demand in other countries
wat is glocalisation?
it involves the development and sale of products to customers around the world which reflect specific local customs, tastes, and traditions
what is localisation?
strategies that adjust products to fit with target customers
what is a global niche market?
customer who live in more than one country and have particular needs that are not met fully by the global mass market
what is a cultural audit?
study and examination of an organisation’s cultural characteristics to determine whether they hinder or support its vision and mission
what is ethnocentrism?
the tendency of people to view their own cultures,ethics and norms as superior.
what are high-context cultures?
collectivist cultures that emphasise interpersonal relationships
what are low-context cultures?
individualistic cultures that tend to say what they mean- communication style that relies heavily on explicit and direct language
what is a global niche market?
customers who live in more than one country and have particular needs that are not met fully by the global mass market
