Understanding Key Terms in Global Marketing

What is the meaning of target territories?

• Locations that are already saturated with competitors

• Areas where businesses have no interest

• Specific geographic areas or markets a business wants to reach.

• Regions with no market potential

What is the meaning of marketing strategy?

• A marketing strategy is a way to reduce customer engagement.

• A marketing strategy is a method to increase product prices.

• A marketing strategy is a plan to achieve marketing goals by understanding the market and targeting specific audiences.

• A marketing strategy is a plan to eliminate competition completely.

What is the meaning of rich elite?

• A collection of government officials and politicians.

• A term used to describe a poor community.

• A small group of wealthy and influential individuals in society.

• A large group of average-income individuals in society.

What is the meaning of middle class?

• A wealthy social class with high income and education.

• A class of individuals with no formal education and low income.

• A group of people living in rural areas with agricultural jobs.

• A social class between the upper and lower classes, characterized by moderate income and education.

What is the meaning of western goods?

• Items exclusively sold in Western markets.

• Products made in Eastern countries.

• Products manufactured in Western countries.

• Goods that are imported from non-Western regions.

What is the meaning of brands?

• Brands are names or symbols that represent a company’s products.
  

• Brands are only used for advertising purposes.

• Brands are only logos without any meaning.

• Brands are a type of social media platform.

What is the meaning of product customisation?

• Product customisation is the act of removing options from a product to simplify choices.

• Product customisation refers to the standardization of product features.

• Product customisation is the process of mass-producing identical products.

• Product customisation is the process of changing a product to fit local preferences

What is the meaning of high-end luxury goods?

• High-end luxury goods are premium products characterized by exceptional quality, exclusivity, and high price.

• Affordable everyday items

• Basic necessities for daily life

• Mass-produced consumer goods

What is the meaning of chauffeur-driven?

• A vehicle operated by a professional driver.

• A vehicle that is self-driven by the owner.

• A service that provides only public transportation.

• A type of luxury car without a driver.

What is the meaning of coffee consumption?

• The history of coffee in different cultures.

• The process of preparing coffee.

• The nutritional value of coffee drinks.

• How much coffee people drink.