What is a key feature of the geocentric approach?

Tailored products and brand image

What does the marketing mix consist of?

Product, price, place, promotion

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Theme 4 - Marketing

17 termsStudBud Administration

Test your knowledge on global marketing concepts, strategies, and approaches with this engaging quiz. From Ansoff's Matrix to the marketing mix, challenge yourself with questions on key principles in international marketing.

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Questions 17

Answers

1
Which approach sees markets as similar?
Polycentric
Geocentric
Mixed
Ethnocentric
2
What is a key feature of the geocentric approach?
Focus on one market
Standardised products only
Tailored products and brand image
No local adaptation
3
What does the marketing mix consist of?
Price, product, people, process
Product, people, place, promotion
Place, price, promotion, people
Product, price, place, promotion
4
What is a key consideration for promotion?
Brand history
Sales volume
Cultural differences
Product features
5
What is a challenge of diversification?
Limited market knowledge
Easy product adaptation
High customer loyalty
Low production costs
6
True or false: E-commerce is irrelevant for global marketing.
True
False
7
Which factor affects pricing decisions?
Customer preferences
Brand loyalty
Production costs
Market competition
8
What does Ansoff's Matrix help identify?
Growth opportunities
Customer preferences
Product costs
Market trends
9
Which strategy involves developing new products?
Market development
Product development
Diversification
Market penetration
10
What does glocalisation mean?
Only global strategy
No strategy at all
Global and local strategy
Only local strategy
11
What is a disadvantage of the ethnocentric approach?
More product options
Higher production costs
Cultural insensitivity
Increased brand loyalty
12
True or false: Adapting the marketing mix is unnecessary for global markets.
False
True
13
Which company uses a polycentric approach?
Nestle
McDonald's
Coca-Cola
Apple
14
What is a risk of market development?
No competition
Easy market entry
Low customer familiarity
High product demand
15
True or false: Ethnocentric approach adapts products for local markets.
True
False
16
True or false: Market penetration carries the highest risk.
False
True
17
What is a benefit of adapting products?
Standardised marketing
Less brand loyalty
Increased sales
Higher production costs

Theme 4 - Marketing Flashcards | StudBud

Theme 4 - Marketing

17 termsStudBud Administration

Flashcards17 cardsFPractice quizPHost liveL

Questions 17

Answers

1
Which approach sees markets as similar?
Polycentric
Geocentric
Mixed
Ethnocentric
2
What is a key feature of the geocentric approach?
Focus on one market
Standardised products only
Tailored products and brand image
No local adaptation
3
What does the marketing mix consist of?
Price, product, people, process
Product, people, place, promotion
Place, price, promotion, people
Product, price, place, promotion
4
What is a key consideration for promotion?
Brand history
Sales volume
Cultural differences
Product features
5
What is a challenge of diversification?
Limited market knowledge
Easy product adaptation
High customer loyalty
Low production costs
6
True or false: E-commerce is irrelevant for global marketing.
True
False
7
Which factor affects pricing decisions?
Customer preferences
Brand loyalty
Production costs
Market competition
8
What does Ansoff's Matrix help identify?
Growth opportunities
Customer preferences
Product costs
Market trends
9
Which strategy involves developing new products?
Market development
Product development
Diversification
Market penetration
10
What does glocalisation mean?
Only global strategy
No strategy at all
Global and local strategy
Only local strategy
11
What is a disadvantage of the ethnocentric approach?
More product options
Higher production costs
Cultural insensitivity
Increased brand loyalty
12
True or false: Adapting the marketing mix is unnecessary for global markets.
False
True
13
Which company uses a polycentric approach?
Nestle
McDonald's
Coca-Cola
Apple
14
What is a risk of market development?
No competition
Easy market entry
Low customer familiarity
High product demand
15
True or false: Ethnocentric approach adapts products for local markets.
True
False
16
True or false: Market penetration carries the highest risk.
False
True
17
What is a benefit of adapting products?
Standardised marketing
Less brand loyalty
Increased sales
Higher production costs