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a) This refers a business, such as Palmolive-Colgate being able to sell the same product using the same marketing approach all over the world. It is used by firms with global brands that often have a major share of their revenues earned from overseas markets.
b) There are several possible answers here; reasoning/justification is needed to award both marks. For example, Colgate toothpaste might be described as a fast-moving-consumer good or as being a consumer product.
c) This question requires a two-sided argument. For many products, the brand name is crucial to its sales. ‘Colgate' (and other globally recognized brand names) will help the company to sell its products due to brand awareness, loyalty and recognition. Globalization has meant that international branding is increasingly important as a business strategy. On the other hand, the brand name must be carefully considered and chosen in the context of overseas markets for some examples of multinationals that went the wrong way about international branding.
Evaluation of the extent to which branding is significant is needed for top marks. For example, the brand itself will not usually be sufficient to secure success in overseas markets; other marketing considerations are needed such as the distribution channels and product's price. Non-marketing aspects might also need to be considered, such as economic, political, legal, ethical and social issues.
What is the primary assumption behind the experience approach to forecasting? The experience act to forecasting is based on the assumption that things will happen a certain way
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