4.3.1 Marketing Approaches

    Cards (29)

    • What are the two main global marketing approaches?
      Standardisation and localisation
    • Standardisation involves using the same marketing strategy across all countries
    • Standardisation is always the most cost-effective global marketing approach.
    • What is a key disadvantage of standardisation in global marketing?
      May not suit all markets
    • Localisation involves tailoring the marketing strategy for each country
    • Localisation enhances customer engagement by catering to local preferences.
    • How does the choice between standardisation and localisation affect revenue growth?
      Depends on initial revenue
    • The choice between standardisation and localisation depends on the product, target markets, and company resources
    • Match the marketing approach with its characteristic:
      Standardisation ↔️ Cost-effective
      Localisation ↔️ Enhances customer engagement
    • What are the two primary approaches to global marketing strategies?
      Standardisation and localisation
    • Standardisation in global marketing uses the same strategy across different countries
    • Standardisation is cost-effective but may not suit all markets.
    • What is a key advantage of localisation in global marketing?
      Enhanced customer engagement
    • Standardisation ensures a consistent brand image
    • Localisation can lead to higher costs and complex management.
    • Match the factor influencing global marketing with its description:
      Product Type ↔️ Localise for culturally specific items
      Cultural Sensitivity ↔️ Essential for localised campaigns
      Budget Constraints ↔️ Standardise for cost-effectiveness
      Competitive Landscape ↔️ Localise to compete
    • Cultural sensitivity is essential for localised marketing campaigns.
    • Why might a luxury skincare company localize its marketing strategy?
      Adapt to local skin types
    • Standardisation may not suit the specific needs of each market.
    • What is a disadvantage of adapting a marketing strategy for each country in localisation?
      Complex management
    • Order the factors influencing global marketing approach selection:
      1️⃣ Product Type
      2️⃣ Cultural Sensitivity
      3️⃣ Target Market Preferences
      4️⃣ Competitive Landscape
      5️⃣ Regulatory Environment
      6️⃣ Budget Constraints
      7️⃣ Technological Infrastructure
    • Luxury or culturally specific products are often best suited for localisation
    • What is an example of a company that localizes its marketing to adapt to local beauty standards?
      Luxury skincare company
    • Standardisation can result in a consistent brand image but may not resonate with all cultures.
    • What is a key advantage of localisation in global marketing?
      Suits local needs
    • Coca-Cola uses standardisation for its brand image but localises its marketing
    • Match the company with its global marketing approach:
      Coca-Cola ↔️ Standardisation and localisation
      McDonald's ↔️ Localisation
      Apple ↔️ Standardisation
    • What mathematical formula is used to calculate the success of Coca-Cola's dual marketing approach?
      S=S = \frac{\text{Global Sales} + \text{Local Sales}}{\text{Total Consumers}}
    • McDonald's adapts its menu to suit local cuisine and tastes.
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