4.3.2 & 4.3.3

Subdecks (1)

what is cultrual diversity? 
recognises the ideas, customs and social behaviour of people or society in different global markets
what is a global niche market?
small segments of the global market that are characterised by unique and specific needs and preferences
features of a global market
clear understanding of customer needes and wants
emphasis on quality
expertise in product area
priorotising profit over market share
innovation excellent customer service
how can you adapt product and price to suit global niches? 
product = modify features to specific needs and wants of target audiance
price = offering a pricing strategy that is attractive to target audiance
how can you adapt promotion and place, to suit global niches? 
promotion = using marketing communication startegies that resonate with target audiance
place = involves using a distribution strategy that is convenient for target audiance
what are the social and cultrual factors which a business needs to take into consideration? 
cultrual differences
different tastes
language
unintended meanings
inappropriate / unaccurate meanings
inappropriate branding and promotion