This is a summary of section 4.3 of the Pearson Edexcel A-Level Business syllabus. The notes are organised according to the syllabus, split up under the headings: Marketing; Niche Markets; and Cultural/Social Factors. Each section has a table of key terms with their definitions and a table of key e...
4.3.1 – Marketin
Global marketing The adaptatoin of a marketing strategy to target all markets
strategy oin a worldwide scale
Global localisatoin Glocalisatoin is the adaptatoin of a global marketing strategy
(glocalisatoin) iin order to meet the requiremeints of local geographic markets
Domestccethinoceintric A marketing approach where the promotoin of the product is
uindertakein based oin the beliefs of the home inatoin of the
busiiness aind is preseinted to the host inatoin as such
Iinterinatoinalc A marketing approach is where the promotoin of the product
polyceintric is uindertakein based oin the beliefs of the inatoin iin which the
busiiness is operating
Mixedcgeoceintric A marketing approach where the promotoin of the product is
uindertakein based oin a global or worldly poiint of view, it is inot
based oin the perspectve of either the home or host inatoin
Marketing mix (4 ’ss) The combiinatoin of elemeints of marketing that are used to
iinfueince customers buyiing habits
Ainsoffss Matrix Ainsoff looked at the degree of risk aind poteintal for reward
from differeint strategic optoins
The busiiness must decide whether to:
Use a commoin global marketing ino differeintatoin betweein areas
Use a localisatoin strategy chainges to meet local ineeds
Use a glocalisatoin strategy few chainges for differeint areas (middle grouind)
Busiinesses ineed to coinsider cultural differeinces, differeint tastes, lainguage, uiniinteinded
meainiings, iinappropriateciinaccurate trainslatoins, iinappropriate braindiing aind promotoinn
The E’G model is a framework that cain be used to ainalyse marketing strategies of global
busiinesses:
Ethinoceintric (domestc) approach
’olyceintric (iinterinatoinal) approach
Geoceintric (mixed) approach
’olyceintric Approach (Localisatoin)
Marketing mix is carefully adopted to suit local marketsn Decisioin makiing is ofein
deceintralised, aind local brainches are treated as separate einttesn
Targeted marketing could maximise Difficult to complete with local
sales established brainds?
Empowered local mainagers cain High developmeint costs
respoind quickly to market chainges Fails to exploit global brainds
Separating differeint parts of the ’rice differeinces create risk of
busiiness cain miinimise disecoinomies reselliing engn via Ebay
of scale
Ethinoceintric Approach (Global Marketing Strategy)
Marketing mix is used iin the same or very similar ways across all couintriesn There are
staindardised products aind a highly ceintralised structuren
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