___is l marketing approach that assumes that the needs satisfied by a product or
ID: 454577 • Letter: #
Question
___is l marketing approach that assumes that the needs satisfied by a product or service and the ways it is used are the same everywhere in the world, and therefore utilizes a common approach m all countries Global marketing Complementy marketing Localized marketing Nationalized marketing Countertrading The approach recognizes similar desires, goals, needs, and uses for products and services but tailors advertising to the local cultures and conditions in each market. "concentrated marketing" "think globally marketing" localized domestic decentralized marketing The____approach works well in small or unique markets where headquarters' involvement is not worthwhile or advertising must be tailored to the local market. Centralized decentralized pattern globalized matrix Unlike advertising, which can be conducted on a global basis, sales promotion: must refrain from including sales contests in global markets. is unaffected by the rise of global brands. must be adapted to local markets. must adopt consolidation. is restricted to developed countries.____ is the promotional function that deals with problems involving local governments, media, trade associations, and the people of the community. Advertising Marketing Personal selling Sales promotionExplanation / Answer
Answer for question 46 is A. Global marketing because,
There are basic 4 types of international strategies that companies adopt
1. International Strategy - (Exporting standard products, manufactured in the home country)
2. Multidomestic Strategy- (Exporting customised products, manufactured in the home country)
3. Transnational Strategy - (Offering customized products and services manufactured across different countries to reap benefits of low cost)
4. Global Strategy - (Offering standardized products and services throughout the world, manufactured across different countries to reap benefits of low cost)
Thus, from this we can conclude that, from the statement given in the question that, a marketing approach that assumes that the needs satisfied by a product or service and the way it is used is same everywhere in the world (no customization, standard product, for example iPhone, designed in USA, manufactured in China, and marketed globally from a common approach in all the countries) is Global Marketing
Whereas, complementary marketing is what you get when the many arms of your marketing and branding work together in harmony. Whether your brand awareness comes from an email list or a broad social media campaign, you’ll be more successful when each component complements and feeds off of every other component. Complementary marketing means taking a look at each part of your marketing and making sure it’s aiming at a common identity.
Localized and Nationalized marketing are the marketing strategies focused on local and national needs, and offering customized products (for example, McDonalds menu is different in each country as per the local need and these are marketed focusing the local taste)
Countertrading is a different concept of trading in which goods and services are traded against another goods or services to make accounting simpler.
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Answer for the question 47 is B. Think Globally Act Locally Because,
Think global, act local" means you have to tailor your marketing to each geographic audience, while maintaining a global brand.
Concentrated marketing is a strategy whereby a product is developed and marketed for a very well defined and specific segment of the consumer population. Concentrated marketing is particularly effective for small companies with limited resources because it enables the company to achieve a strong market position in the specific market segment it serves without mass production, mass distribution, or mass advertising, which is not the case in this statement.
Also, localized and domestic marketing are used for the customized and niche products, whether decentralized marketing is more associated with the organizational structure.
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Answer for the question 48 is B. Decentralized marketing because,
In case of centralized marketing, the decision making process is centralized to headquarters of the organization, whereas in decentralized marketing, the decision making is decentralized and top management involvement is limited, which is the case given in the question statement.
Pattern and matrix are irrelevant options in this case whereas global marketing approach is not tailored to small markets and it involves centralized decisions. Thus, decentralized marketing is the right option.
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Answer for the question 49 is C. must be adopted to local markets because,
Sales promotion is the process of persuading a potential customer to buy the product. Sales promotion is designed to be used as a short-term tactic to boost sales – it is rarely suitable as a method of building long-term customer loyalty. Thus sales promotion concentrates on individuals and community markets, hence to be adopted to local markets.
Options A and B are not true in case of sales promotion and also sales promotion is not at all restricted to global countries.
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Answer for the question 50 is A. Advertising
Because advertising is done on a broader concept and needs to consider all the aspects like rules and regulations from the local governments, media, trade associations and the cultural aspects of the community. The other functions hardly consider these elements. (For example, in UAE, one cannot use female models in advertising, or one cannot advertise licker products in India)
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