Standardisation or adaptation when applying elements of the marketing mix to global brands

Question 1

Standardisation or adaptation when applying elements of the marketing mix to global brands?

Answer 1

1.corporate slogan

2.product name

3.product features

4.positioning

Question 2

why would brands choose to adapt their marketing mix?

Answer 2

to suit the needs, values and preferences of individual markets

Question 3

Adapting Strategies for international markets

Answer 3

Adapting the** marketing mix involves creating a unique marketing mix to suit the market the the brand is operating within**

Question 4

Disadvantages of Adapting strategies for international markets.

Answer 4

1.**increases the cost **involved in strategy implementation
2.makes management of marketing across global brand more complex

Question 5

Adaptaition strategies a business can use include?

Answer 5

1.Use domestic strategies internationally with no change.

2) Adapt strategies to regions or target markets in countries based on market research.

3) Adapt strategies to countries based on national market research.

Question 6

Standardisation: Standardising Strategies for international markets

Answer 6

1.less expensive to standardise marketing mix strategies across foreign markets
2.it offers** consistency in brand image**
3.simplifies operational processes
4.may lead to cost efficiencies through economies of scale.

Question 7

Define Corporate Slogan.

Answer 7

A concise and memorable phrase that expresses a company’s mission, values, or brand essence.

Question 8

Argument for Standardization of ** **

Answer 8

1.Keeping it consistent reinforces brand identity
2.maintains a cohesive brand ID
3.fosters global recognition
4.ensures consistent brand messages across markets

Question 9

Argument for Adaptation of corprote slogan.

Answer 9

1.adapting corporate slogan to suit language or cultural preferences can enhance renosance with consumers.
2.It also maintanis its meaning and effectiveness
3.increases consumer engagement

Question 10

Define product name

Answer 10

The unique identifier assigned to a specific product or service, **distinguishing it from others in the market. **

Question 11

Argument for the standardisation of Product Name.

Answer 11

1.Keeping product names conisistent Globally can facilitate brand recognition and simplify marketing efforts
2.allows for consumers to easily identify a brands product easily
3.faciliates brand recognition and promotes a unified brand image worldwide

Question 12

argument for adaptation of a product name.

Answer 12

1.Adapting product name to local languages can improve accessibility and appeal.
2.it helps reflects cultural sensitivities and linguistic differences ,and potentially increases market penetration and acceptance

Question 13

Define Product feature

Answer 13

The characteristics, and functionalities of a product or service that provide benefits to the consumer

Question 14

Argument for standardisation of Product name.

Answer 14

1.standardising product features can ensure consistent quality and user experience
2.it also fosters trust and loyalty among consumers

Question 15

Argument for Adaptation:

Answer 15

1.adapting product features to local Preferences can enhance market presence and adress specific needs
2. Benefits include catering to local preferences and needs,complying with local regulations or standard and potentially gaining a competitive advantage by offering customized solutions

Question 16

Define Positioning

Answer 16

The perception of a brand or product in the minds of consumers relative to competitors, based on factors such as price, quality, and image.

Question 17

Argument for Standardization of positioning

Answer 17

1.it reinforces a consistent brand image and value proposition, making it easier for consumers to understand and relate to the brand.
2. fostering trust and loyalty across markets

Question 18

argument for adaptation of Positioning

Answer 18

1.Adapting positioning to** local market conditions or cultural values** can increase relevance and resonance with consumers.
2.it also alligns with cultural preferences
3.potentially gaining a competitive edge by offering tailored positioning strategies that address specific market needs.