How do National Cultures Impact Marketing Strategies?
This assignment examines the Influence of National Culture on Marketing Strategies. Market research is the collection of information relating to the problems that affect the marketing process of goods and services. The primary purpose of carrying out market research is to understand the various opportunities and problems that are in the market. Also, companies carryout market research to understand both their customers and their competitors.
Carrying out market research enables the business to understand more effectively consumer behavior and how to attract them to buy the product. Businesses are able to achieve organizational goals and compete effectively by understanding the customer’s tastes and preferences and working towards providing them with exactly what they want and need. Therefore business owners have a duty of gathering information about their customers, competitors, and other market forces. The collected information is analyzed and later helps in the drafting of relevant marketing decisions.
A marketing strategy is a long-term plan for achieving a company's goals by understanding the needs of customers and creating a distinct and sustainable competitive advantage. It includes understanding the environment the business operates in, customers, competitors, laws, and regulations plus planning a marketing strategy to build a successful business. A marketing strategy entails segmenting the market, deciding on which customer to target and what message the targeted customers should associate with the brand. With a marketing strategy, an organization can define how it wants to position itself in the marketplace, the types of products it produces, the strategic partners it makes, and the type of advertising and promotion it undertakes.
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How do National Cultures Impact Marketing Strategies? A Case Study
Key Learning Outcomes
- Understand the general meaning of National Cultures
- Understand how National Cultures impact marketing strategies
- Learn how to operate with these National Cultures in real-life organizations
1.0 INTRODUCTION
This assignment is going to examine how National Cultures impact marketing strategies by answering the following questions; how do cultural differences influence marketing strategies? What impact does culture have on market strategy and segmentation? How does the cultural environment affect marketing activities? How do cultural differences influence marketing strategies
A marketing strategy is a long-term plan for achieving a company’s goals by understanding the needs of customers and creating a distinct and sustainable competitive advantage. It includes understanding the environment the business operates in, customers, competitors, laws, and regulations plus planning a marketing strategy to build a successful business. A marketing strategy entails segmenting the market, deciding on which customer to target and what message the targeted customers should associate with the brand. With a marketing strategy, an organization can define how it wants to position itself in the marketplace, the types of products it produces, the strategic partners it makes, and the type of advertising and promotion it undertakes.
National culture is one of the most important factors that influence the effectiveness of marketing strategies in international markets. Marketing managers need to understand how consumers from different cultures react to their product offerings, launch timing, promotional strategies, pricing, and distribution channels. Failing to do so can result in poor performance, customer dissatisfaction, and reputation damage
Product content
Product content refers to the features, benefits, and values that a product conveys to consumers. Product content is especially important for products that are rich in cultural content, such as entertainment products (e.g., movies, music, food, and fashion). Consumers tend to prefer products that are congruent with their own cultural background and values.
For example, consumers from collectivistic, feminine, and uncertainty-avoidant cultures are more likely to appreciate products that emphasize harmony, cooperation, and security. Conversely, consumers from individualistic, masculine, and uncertainty-tolerant cultures are more likely to appreciate products that emphasize autonomy, achievement, and novelty.
Therefore, marketing managers should design product content that matches the cultural preferences of their target markets. They should also avoid producing content that may offend or alienate consumers from different cultures. For example, when Disney launched its movie Mulan in China, it faced criticism for portraying Chinese culture inaccurately and disrespectfully. On the other hand, when Netflix launched its series Sacred Games in India, it received praise for depicting Indian culture authentically and realistically.
Launch timing
Launch timing refers to the time gap between the introduction of a product in the home market and in the foreign market. Launch timing can affect consumer evaluations of a product in several ways. First, launch timing can signal the importance and quality of a product. A shorter time gap can indicate that the product is more relevant and valuable for the foreign market. A longer time gap can indicate that the product is less relevant and valuable for the foreign market. Second, launch timing can affect consumer expectations and satisfaction. A shorter time gap can increase consumer expectations and satisfaction by creating a sense of urgency and excitement. A longer time gap can decrease consumer expectations and satisfaction by creating a sense of disappointment and frustration.
However, the effect of launch timing may vary depending on the cultural characteristics of the foreign market. Specifically, consumers from long-term-oriented cultures may be more tolerant and patient with longer time gaps than consumers from short-term-oriented cultures. Long-term-oriented cultures value perseverance, adaptation, and future orientation. Short-term-oriented cultures value immediacy, gratification, and present orientation. For example, when Apple launched its iPhone 6 in China six weeks after its launch in the US, it faced backlash from Chinese consumers who felt neglected and cheated. On the other hand, when Sony launched its PlayStation 4 in Japan three months after its launch in the US and Europe, it faced less resistance from Japanese consumers who were more willing to wait for a better product.
Therefore, marketing managers should consider the cultural dimension of long-term orientation when deciding on launch timing for their products. They should also communicate clearly and transparently with their foreign customers about the reasons and benefits of their launch timing decisions
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