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Business theme 4
4.3
4.3.2 & 4.3.3
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4.4.2 & 4.4.3
Business theme 4 > 4.3 > 4.3.2 & 4.3.3
10 cards
Cards (16)
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
See all 16 cards
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