4.3.1

• what is glocalisation?


  describes a product or service that is developed and sold globally, but also adapted to meet the needs and wants of customers in a local market
• what are the different marketing approaches?


  ethnocentric

  geocentric

  polycentric
• what is ethnocentric?


  assumes that what works in home markets willl also work in international markets
• advantages of an ethnocentric approach


  marketing economies of scale
• disadvantages of an ethnocentric approach

  cultrual insensitivity

  resistance to change
• what is a geocentric approach?


  regognises difference in national markets

  main aim to to build a truly global brand
• what is a polycentric approach?


  recognised that every netional market requires a different marketing mix
• what is market development?

  existing products into a new market
• evaluation of market development

  logical strategy when products in decline or markets saturated

  existing product may not suit the new market