Economics Theme 3

Kanashii Kanashii Kanashii Kanashii

Teacher recommended

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E R I F Y R M T X Q I O G P L V E C S O J
E T H N O C E N T R I C M O D E L W J B P
P S E M Y P T M D H D C E T V E W G K N T
B A L A N C E O F P A Y M E N T S F J R H
O D E V E L O P E D C O U N T R I E S J B
B X V S J P S P S L U I R A U Y P J H D Y
M A R K E T S A T U R A T I O N D E O A Q
W S O Y H B C H Y T G H Y A U H E R O I Q
C M U J N F Y U K D V K G F A H M U C D D
Q J Q T J A D R Q R Q B F O O F N G X Q D
H J K S O O R U F N P H M Y K E P V J L K
T R A D E L I B E R A L I S A T I O N M I
D E V E L O P I N G C O U N T R I E S S C
O L A C P F C L B B O D F P P S U K A P U
P G L O B A L N I C H E M A R K E T S M Y
W G A M R U S E S Q W R N U J L A B G F S
G E O C E N T R I C A P P R O A C H P K T
A O E C O R P O R A T E C U L T U R E A K
H Q N P O L Y C E N T R I C M O D E L K V
A H A N X W E C P Y Y G T D S P M T B L J
B D D I I U Y B F M R N E T L W J I R I F

Clues

  • An approach that considers each target market to be unique. Each of its businesses develop unique business and marketing strategies that suit the relevant location. (11, 5)
  • An approach to marketing based on the tendency to look at the world from the perspective of one's own culture. A business may simply do the same everywhere as it does in its home markets. (12, 5)
  • Corporate culture is the set of important assumptions that are shared by people working in a particular business and influence the ways in which decisions are taken there. (9, 7)
  • Developed countries have high incomes. Through capital investment, they have acquired sophisticated production facilities. (9, 9)
  • Developing countries have relatively low standards of living, compared with developed countries. They may have small manufacturing sectors, (10, 9)
  • Geocentric approach sees the world as a potential market with both similarities and differences in domestic and foreign markets. An effort is made to develop integrated world market strategies to gain the best from both markets. (10, 8)
  • Global niche markets are smaller, more specialized parts of the global market where customers in more than one country have particular needs that are not fully met by the global mass market. (6, 5, 7)
  • Market saturation occurs when it becomes impossible to expand sales further in that particular market. (6, 10)
  • Refers to the process which trade barriers are eliminated. (5, 14)
  • The accounts that record all international transactions, including trade and capital movements (7, 2, 8)

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