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Cross-Cultural Consumer Behavior And Multinational Strategies

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crystal lara
Cross-Cultural Consumer Behavior And Multinational Strategies

Today, almost all major corporations are actively marketing their products beyond their original homeland borders. In fact, the issue is generally not whether to market a brand in other countries but rather how to do it. Because of this emphasis on operating as a multinational entity, the vocabulary of marketing now includes terms such as global, which refers to companies that are both “global” and “local”. (Kim,et.al,2002)

Firms are selling products worldwide for several reasons. First, with the buildup of “multinational fever” and the general attractiveness of multinational markets, products or services originating in one country are increasingly being sought out by consumers in other parts of the world. Second many firms have learned that overseas markets represent the single most important opportunity for their future growth when their home markets reach maturity. This realization is propelling them to expand their horizons and seek consumers scattered all over the world. Moreover consumers all over the world are increasingly eager to try “foreign” products that are popular in different and far-off places. Today we are going to talk about cross-cultural consumer behavior and its impact on multinational strategies.

Definition And Objectives Of Cross-Cultural Consumer Analysis

To determine whether and how to enter foreign markets, marketers need to conduct some form of cross-cultural consumer analysisCross-cultural consumer analysis is defined as the effort to determine to what extent the consumers of two or more nations are similar or different. Such analyses 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. According to  Berkman (Zhang,et.al,2008) and Gilson, Cross-cultural research is a methodology for comparing cultures on the basis of similarities and differences as well as studying small segments of a total culture.

A major objective of cross cultural buyer behavior is to determine how consumers of two or more societies are similar and how they are different. Understanding of similarities and differences that exist between nations is critical to multinational marketer who must devise appropriate strategies to reach consumers in specific foreign markets. The greater the similarity between nations, the more feasible it is to use relatively similar marketing strategies in each nation. On the other hand, if the cultural beliefs, values, and customs of specific target countries are found to differ widely, then a highly individualized marketing strategy is indicated for each country.

How Cross-Cultural Consumer Analysis Helps A Multinational Marketer?

  • Cross-cultural study is an extremely important activity for a multinational marketer. There are a great many cross-cultural variations in consumer behavior that are of particular interest to the marketer operating in more than one culture.
  • As differences in verbal communication systemacross cultures are found such as the symbolic communications, multinational marketers must also take that into active consideration for success in other cultures.
  • Understanding cross-cultures help marketers to understand values of other cultures which influence their purchase behavior. This understanding helps marketers making proper adaptations in their product, pricing, distribution, and promotion policies.
  • Since marketers cannot satisfy the needs of the entire market, markets must be segmented. To segment markets effectively, marketers also require an understanding of other cultures.
  • Values also determine whether people of a particular culture will be influenced by others in the society. Knowing this aspect of a culture helps marketers identifying reference groups that will have bearing on consumer behavior. Thus it helps marketers to tailor their promotional programs on specific reference group. To gather further knowledge on how consumer analysis helps multinational marketer students can avail online assignment helpfrom SourceEssay.

Market Expansion Strategies

In a cross cultural analysis of English, United States, Canadian, and Australian markets, There are four strategies for expanding existing products into new markets. Their primary considerations are twofold: 1) the cultural values which will determine how a product is positioned and 2) cultural cues as to how a product may best be marketed. The strategies are:

  1. Same Product-Same Promotion:In this case, a new market’s established way of indicates that a given product will be accepted and the current promotion is sufficiently widespread to sell it. Coca-Cola represents a widely successful example. (LeBlanc,et.al,2001)
  2. Same Product-Different Promotion:This method is appropriate where the new market reflects a way of life similar to that in the established market, but individual life styles are patterned differently. A standard ford, no great luxury, in the United States, would be an extravagant purchase for most New Zealanders.
  3. Different Product-Same Promotion:When a new market exhibits product-use styles quite different from the present market, some reworking of the product itself may be in order. A laundry detergent might be branded and packaged differently in Europe but would still be advertised with “brightness” claims.
  4. Different Product-Different Promotion:If both the cultural way of life and individual life styles is dramatically different in a new market, it may be most advisable to acquire existing firms there. Walgreen’s, for instance, entered the Mexican market by acquiring a retail chain known as Sanborn’s. To write assignments on market expansion strategies students can seek assistance from SourceEssay assignment writers.

Conclusion

Marketers must learn everything that is relevant to the product and product category in the society in which they plan to market, and then they must persuade the members of that society to break with their traditional ways of doing things to adopt the new product. There is an urgent need for more systematic and conceptual cross-cultural analyses of the psychological, social, and cultural characteristics concerning the consumption habits of foreign consumers. Such analyses would identify increased marketing opportunities that would benefit both international marketers and their targeted consumers. So marketers should conduct extensive cross-cultural research and set multinational strategies accordingly.

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