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

Theme 4 - Marketing Flashcards | StudBud

Theme 4 - Marketing

17 termsStudBud Administration

Flashcards17 cardsFPractice quizPHost liveL

Questions 17

Answers

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