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Environmentally sustainable o socially just o locally

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Environmentally sustainableoSocially justoLocally rootedGlobalization and cultureGlobalization is a strong force for the spread of ideas around the worldHowever, there still exists a great deal of cultural diversity among regions, individualcountries and even within countriesWhat is culture?
oThis value results in formal rules and proceduresIndividualismoThe tendency of people to look after themselves and their immediate family byextension, neglecting the needs of societyMasculinityoThe degree of typical “masculine” values, such asAssertiveness, materialism, and lack of concern for othersRonen and ShenkarRonen and Shenkar (synthesizing Hofstede’s research and other cluster studies)developedcountry clustersbased on the following factors:othe importance of work goalsoneed fulfillment and job satisfactionomanagerial and organization variablesowork role and interpersonal orientationTrompenaars: Neutral vs affectiveneutral versus affective dimension, focus on the emotional –relationshipsoneutral =emotions held back (e.g. Japan, UK)oaffective =emotions are openly and naturally expressed (e.g. Mexico,Netherlands)Trompenaars: Achievement vs ascriptionachievement society:based on individual achievement (e.g. US, Switzerland and UK)Ascription:whom you are (e.g. Venezuela and china)The Schwartz value survey4 dimensions1.Openness to change2.Self transcendence3.Conservatism4.Self enhancementone advantage of the Schwartz value survey is that it canmeasure individual differencesoresearches have utilized Schwartz to study consumer behaviour,particularly for segmentation and advertisingLecture 4promotion and pricing strategiesMarket entry methodsExporting/importingoDirectoIndirect
Contractual entry modesoLicensingoFranchisingoManagement contractsoTurnkey projectsInvestment entry modesoWholly-owned subsidiaryoJoint ventureoStrategic allianceGlobal marketingA global marketing strategy that views the world’s consumers as similar in their tastesand preferences is consistent with the mass production of a standardized outputBy mass producing a standardized output, the firm can realize substantial unit costreductionsBut, ignoring country differences in consumer tases and preference’s can lead tofailureDeveloping new products require R&DMarketing mixThe marketing mix is the set of choices a firm offers to its targeted marketsFour elements:oProductoPlace (distribution)oPriceoPromotion (communication strategies)Market segmentationMarkets can be segmented by:oGeographyoDemographyoSocial cultural factorsProduct attributesA product can be viewed as a bundle of attributes

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Term
Spring
Professor
Manjuris
Tags
International Trade, World Trade

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