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Cross-cultural marketing is defined as "the effort to determine to what extent the consumers of two or more nations are similar or different. This will facilitate marketers to understand the psychological, social and cultural aspects of foreign consumers they wish to target, so as to design effective marketing strategies for each of the specific national markets involved."
A company can enter a foreign market as a
??Domestic exporter
??Foreign importer
??Foreign government-solicit the firm to sell abroad
The firm's objectives could be:
??To determine how consumers in two or more societies are Similar / different and devise suitable, appropriate strategies
??Devise individualized marketing strategy if cultural beliefs, values and customs of a specific country are different
Characteristic features of a firm going global:
1. High market share in the domestic market
2. Advantageous economies of scale
3. Access to marketing/manufacturing bases across global borders
4. Availability of resources and capability to absorb huge losses
5. Product/technology clout
6. Cost and differentiation advantages
Problems in Cross Cultural marketing
1. Problems related to product selection: The marketer going for cross cultural marketing has to select the customers/ market not on the basis of the superficial similarities of age or income, but by using the real motivating factors that prompt them to accept or reject products.
2. Problems related to promotion/marketing communication: e.g. Ariel in the Middle East and also Pepsi
3. Problems related to pricing: the marketer has to adjust his pricing policies according to the local economic conditions and customs.
4. Problems related to selection of distribution channels: in Japan, P & G
used this to sell soap
Cross-Cultural Consumer Analysis
To determine whether and how to enter a foreign market, we need to conduct some form of cross-cultural consumer analysis. Cross-cultural consumer analysis can be defined as the effort to determine to what extent the consumers of two or more nations are similar or different. Such analysis can provide marketers with an understanding of the psychological, social, and cultural characteristics of the foreign consumers they wish to target, so that they can design effective marketing strategies for the specific national
markets involved.
Similarities and differences among people
A major objective of cross-cultural consumer analysis is to determine how consumers in two or more societies are similar and how they are different.
- Fight for one's
beliefs/positions
- Individualistic
- Clear-cut
- Specific
- Display emotions in public
- Result oriented
- Make a short story long
- Verbal communication important
- Interested in what is spoken
What else can I help you with?
Why would only three significant figures be required for the analysis of a consumer chemical such as p2o5 in plant food?
Using three significant figures provides a balance between precision and practicality for consumer chemical analysis. Any increase in significant figures beyond three would not significantly impact the accuracy of the analysis for consumer purposes, but it could add unnecessary complexity to the reporting and calculations. Additionally, consumer chemical measurements often have intrinsic limitations that make it difficult to achieve higher precision beyond three significant figures.
What is the Stakeholder analysis of consumer and employee?
Stakeholder Analysis is a technique used to identify stakeholders and analyze their needs. A complete and comprehensive series on stakeholder analysis is provided in the related links section.
What is an analysis of data in consumer awareness?
Companies can use this to see how much consumers know about them. It is important to have high consumer awareness in order to sell products.
What did the 1992 Consumers Reports analysis of seafood determine?
A Consumer Reports analysis in early 1992 found that much of the seafood consumed by Americans was often of poor quality.
Why microeconomics is called microscopic analysis?
microeconomics is called microscopic analysis because it analyze the behavior of micro or small units of the economy like individual consumer, producer, factor suppliers etc.
Where can one view measurements of consumer sentiment?
Some of the qualitative approaches to measuring consumer sentiment include social sentiment analysis, text mining, opinion mining, social listening, and sentiment analysis. Sentiment analysis is a thorough process, and leading companies have already taken advantage of assessing their customers' sentiments with tools like BytesView. This built trust in retailers and organizations, encouraging them to focus more on sentiment analysis and deciphering this complex interpretation, which can take the form of an image, an emoji, a sarcastic statement, an emotional tone, or an incomplete statement.
What has the author George Stergiou written?
George Stergiou has written: 'Analysis of the consumer behaviour regarding rice in the UK'
Where can I buy gait analysis running shoes ?
I believe sport chalet has them. I saw them on their site. They posted some information on the gait analysis running shoes along with some consumer reviews.
What is analysis of consumer demand?
Analysis of consumer demand involves examining the preferences, behaviors, and purchasing patterns of consumers to understand how they make buying decisions. This analysis typically uses data on factors such as price, income levels, trends, and market conditions to forecast future demand for products or services. By understanding consumer demand, businesses can optimize their marketing strategies, inventory management, and product development to better meet the needs of their target audience. Ultimately, it helps companies enhance customer satisfaction and drive sales.
What has the author Ray H Matson written?
Ray H. Matson has written: 'Ratios of the instalment sales finance and consumer finance companies' -- subject(s): Consumer credit, Installment plan, Ratio analysis
What is marke trak?
MarkeTrak is a research study conducted by the Consumer Technology Association (CTA) that focuses on understanding consumer behavior and trends within the consumer electronics industry. It provides insights into purchasing patterns, brand perceptions, and the impact of technology on consumer lifestyles. The study helps businesses and marketers make informed decisions based on data-driven analysis of market dynamics and consumer preferences.
What has the author Torsten Albrecht written?
Torsten Albrecht has written: 'Analysis of consumer demand for alternative products. A study based on the UK and Germany'
