361 global marketing Questions and Answers Distinction Level 2023

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Theodore Levitt - --argued that world markets are becoming increasingly similar/more global (universal needs were being established) -making it unnecessary to localize the marketing mix--->Is he righ... t?---> probably not -current consensus states although world is moving towards global markets, global standardization is not possible -market segmentation - --identifying distinct groups of consumers whose purchasing behavior differs from others in important ways -markets can be segmented by: 1. geography 2. demography 3. sociocultural factors 4. psychological factors -2 key market segmentation issues: - -1. differences between countries in the structure of market segments (may have to develop a unique marketing mix to appeal to a certain segment in a given country) 2. existence of segments that transcend national borders like diaspora (when segments transcend national borders, a global strategy is possible) [Show More]

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