Marketing Strategy

Question 1

marketing plan

Answer 1

a detailed and fully researched written report on the marketing objectives and the marketing strategy to be used to achieve them

Question 2

economic collaboration

Answer 2

countries working together to achieve common aims, such as free international trade

Question 3

free trade agreements

Answer 3

agreements made between countries to reduce or eliminate trade barriers between them such as import tariffs and quotas

Question 4

international marketing

Answer 4

selling products in markets other than the original domestic market

Question 5

BRICS

Answer 5

the acronym for five rapidly developing economies with great market opportunities: Brazil, Russia, India, China and South Africa

Question 6

pan global marketing

Answer 6

marketing a standardised product across the globe, as if the entire world were a single market, selling the same products in the same way everywhere

Question 7

global localisation

Answer 7

adapting the marketing mix, including differentiated products and adjusting for national and regional tastes and cultures, in order to maintain local differences