4.3.2 & 4.3.3

    Subdecks (1)

    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
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