4.5 Global Marketing

• What is the primary aim of global marketing?

  Satisfy customers in multiple countries
• Global marketing involves the planning and execution of marketing activities across national boundaries.
• Cultural differences are a key challenge in global marketing.
• What does regulatory compliance involve in global marketing?

  Navigating diverse legal environments
• Dealing with varying exchange rates is a key challenge of global marketing due to currency fluctuations.
• Order the key differences between domestic and global marketing:

  1️⃣ Scope: Local vs. global markets

  2️⃣ Target Audience: Homogenous vs. diverse cultures

  3️⃣ Marketing Strategies: Uniform vs. tailored

  4️⃣ Regulatory Environment: Consistent vs. varying laws

  5️⃣ Supply Chain: Simple vs. complex networks
• Cultural differences require adaptation of marketing strategies in global marketing.
• What is one advantage of economies of scale in global marketing?

  Lower per-unit costs
• Communication barriers in global marketing can arise from language differences or cultural misinterpretations.
• What is the benefit of increased market reach in global marketing?

  Access to new customers
• Enhanced global image is known as brand recognition
• How does economies of scale contribute to global marketing?

  Lower per-unit costs
• Increased profitability is a key benefit of global marketing.
• Match the challenge with its description in global marketing:

  Cultural Differences ↔️ Adapting to local customs

  Regulatory Compliance ↔️ Navigating diverse laws
• What is the primary goal of global marketing?

  Reach customers across countries
• Global marketing adapts strategies to suit local markets
• Increased market reach in global marketing refers to accessing new customer segments.
• Match the challenge with its description in global marketing:

  Cultural Differences ↔️ Adapting to local customs

  Regulatory Compliance ↔️ Navigating diverse laws

  Logistics and Distribution ↔️ Managing international supply chains
• Why do economies of scale lower per-unit costs in global marketing?

  Mass production
• Currency fluctuations are a challenge in global marketing because they affect pricing.
• What is the key difference in scope between domestic and global marketing?

  Local vs international markets
• Global marketing targets audiences with diverse cultural backgrounds
• Match the advantage with its description in global marketing:

  Increased Market Reach ↔️ Access to new customer segments

  Brand Recognition ↔️ Enhanced global image

  Economies of Scale ↔️ Lower per-unit costs

  Increased Profitability ↔️ Higher overall sales
• How do cultural considerations influence global marketing strategies?

  Require tailored approaches
• Cultural differences such as language and customs require tailored marketing approaches
• Regulatory compliance in global marketing involves navigating diverse legal environments.
• What is the challenge of logistics and distribution in global marketing?

  Managing supply chains
• Match the influencing factor with its impact in global marketing:

  Cultural Considerations ↔️ Tailoring products and communications

  Economic Conditions ↔️ Adjusting pricing and promotions

  Political Stability ↔️ Assessing market entry risks

  Legal Frameworks ↔️ Ensuring compliance with laws
• Exporting is a global entry strategy that involves producing goods domestically and selling them abroad.
• Franchising is a global entry strategy where a business allows another party to use its brand
• How do luxury brands adjust pricing in developed versus developing markets?

  Based on income levels
• Coca-Cola's market strategy in unstable regions includes close monitoring of government policies
• Google adjusts its privacy policies to adhere to GDPR regulations in Europe.
• Match the global entry strategy with its description:

  Exporting ↔️ Selling products in foreign markets without physical presence

  Franchising ↔️ Granting rights to operate a business

  Direct Investment ↔️ Establishing business operations abroad
• What is an example of exporting as a global entry strategy?

  Selling tea to the US
• McDonald's franchising its restaurants globally is an example of the franchising entry strategy
• Toyota building a manufacturing plant in the US is an example of direct investment.
• Which global entry strategy is considered the least risky but offers less control?

  Exporting
• Apple uses a combination of exporting and direct investment
• In global marketing, companies must choose between standardization and adaptation strategies.