Global marketing: Triumph. Flashcards Preview

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Flashcards in Global marketing: Triumph. Deck (11)
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1
Q

What is global marketing?

A

‘Conceptualizing and then conveying a final product/service worldwide with hopes of reaching global markets’ - Selling same product everywhere!

2
Q

What does Triumph produce?

A

High-quality motorbikes.

3
Q

Why was there a need to improve marketing after the 1970’s and 80’s?

A

Japanese motorbikes were outcompeting them.

4
Q

What was the main focus of its marketing scheme?

A

Mix old with new, to keep the heritage and emphasise the ‘Britishness’.

5
Q

How had Triumph become an iconic brand in the 50s and 60s that would help it market its products?

A

Used by cultural icons like James Dean, Steve McQueen, and Bob Dylan.

6
Q

How have they achieved customer proximity?

A

Market research to understand local demands, launched accessories range to make products more customisable, also factory tours are offered.

7
Q

What market has Triumph increased operations in?

A

East Asia - opened factories in Thailand.

8
Q

What did ‘stunt’ triumph get involved with to increase global recognition of the brand?

A

Broke the land speed record in 2017.

9
Q

What evidence is there to suggest these marketing schemes were successful in the USA?

A

15% increase in sales in 2016.

10
Q

Between 2014-15 how much did sales increase by globally?

A

50%

11
Q

What impact could Brexit have?

A

Lower pound could increase exports (cheaper to buy british goods) however, more expensive to import goods therefore impacting production.