Marketing (Decisions)

Question 1

What is global marketing

Answer 1

The process of placing a product in a worldwide market place

Question 2

What does global marketing involve

Answer 2

Market planning, manufacturing to meet demand and changing the marketing mix as appropriate

Question 3

How does product change in global markets

Answer 3

The tastes and expectations of consumers are different globally

Question 4

How does price change in global markets

Answer 4

The competition in markets will vary globally

Question 5

How does place change in global markets

Answer 5

The shopping habits of customers could be different, do they have access to ecommerce etc

Question 6

How does promotion change in global markets

Answer 6

Ensuring it appeals to different cultures, does not offend (language barriers) and recognises traditions

Question 7

What was Michael porters idea of competitive advantage

Answer 7

A business can have a competitive advantage if its either the lowest cost or the highest differentiated business in a market, its dangerous for a business to be in no mans land