Contemporary issues in marketing Essay Example | Topics and Well Written Essays - 4000 words

Contemporary issues in marketing - Essay Example All the above phases mean that the strategy to be developed should effectively put the principles of the company closer to the needs of the specific consumers that the company targets. If a company puts the above in consideration then it will definitely develop unique strategies that make it competitive in the new market. This is addition to proper review and correction policies will determine the success of the adapted international marketing mix that Weny Trippes (fictional company) has developed. Weny Trippes has a really wide market appeal in the soft drink market in the United States. A company such as Weny Trippes has the ability to introduce new products that meet the demands and quality requirements of its consumers faster than any other company in the local scene. It has better consumer need responsiveness, better innovative skills, quality products and processes as well as higher efficiency that promotes its differentiation advantage in the United States market. This has ma de the company to consider developing marketing strategies that can ensure the success of its product line in other foreign markets such as those of Central America, East Africa, or Northern Europe, Chinese market and the Middle East markets. Different foreign markets have different needs and present unique different challenges that Weny Trippes has to form effective entry and marketing strategies on how to overcome them. ... Increasing competitiveness on a global ground has forced many industries to expand to foreign countries. Internationalisation, which is the process by virtue of which a firm moves from operating in its domestic market to international markets, has hence become an ongoing trend in the economy. But this however may have effects that are not evident in the domestic sector especially in terms of coping up with a foreign environment. The international market for many products is subject to many dynamic influences that can lead to changes in the volume, mix and distribution of demand and sources of competitiveness (Ofori 2000). Before this decision to venture into the market Weny Trippes only ventured the domestic market and never thought of expanding its business beyond the borders of its home country. The international penetration option for the companies is a means of expanding the profits and at the same time attempting to cash on the weakness and lack of creativity by the home compani es or firms that produce similar products (Akkaya 2006). Organizations are optimally entering into newer foreign markets mainly the onset of globalisation. â€Å"Globalisation is a process of interaction and integration among the people, companies, and governments of different nations, a process driven by international trade and investment †¦. This process has effects on the environment, on culture, on political systems...† (Rothenberg 2002, p1). Thus, its wish to make an impression in foreign markets is further driven by the globalization. In addition, Weny Trippes has a really diverse range of soft drink products and energy drinks that it intends to develop an international marketing strategy so as to promote them in several foreign markets.

Cultural Plualism Assignment Essay Example | Topics and Well Written Essays - 1000 words

Cultural Plualism Assignment - Essay Example The people, who migrate from their homelands to work in foreign lands, form minorities and represent their cultures in the presence of other cultures; this creates the concept of cultural pluralism. Following are some of the criteria, on the basis of which different cultures can be described; Individualistic versus collective Masculinity versus femininity Social perspective of different cultures 2. Cultural Patterns The cultural pattern that has been chosen for analysis (with respect to a global context) is ‘individualistic versus collective’ cultures. Dessler (2007) defined individualism as the extent to which individuals look out for their own betterment instead of acting like a member of a group (or society). The societies that promote such non-conformist point of views are often termed as individualistic cultures. In individualistic cultures, social and family bonds are much looser than the other cultures since they do not value traditional customs and morals to a gr eat extent. Lascu (2003) explained that great stress is laid on the achievement of personal goals and attaining capabilities to fulfill their dreams. Social norms are not as important as the individual’s own decisions and judgments. Their main aims in life are self satisfaction, achievement of their own objectives and fulfillment of their own desires. People, who follow an individualistic culture, feel unenthusiastic about participating in collective efforts of a group if their own actions are not acknowledged and rewarded. Collectivism can be defined as the extent to which individuals act for the betterment of the whole group (family, social circle etc) rather than self interests. Hofstede (2001) stated that the social ties and values of individuals are very strong in a collectivist culture. They value the greater benefit of the whole group before their own and are in favor of sharing their rewards with all the group members. There exists a need in the collectivist culture t o associate oneself with a certain group since the sense of belonging and dependence is very common. Markus and Kitayama (1991) defined individualism and collectivism as independence and interdependence with the individual’s organization, respectively. Collectivist culture promotes interdependence with people outside the group and greater associations with people inside the group. Krynke (1998) stated that cultures have been witnessed to transform from collectivist to individualistic ones due to the progression of industrialization. 3. Individualistic and Collective Cultures in a Global Perspective Individualistic culture is usually witnessed in organizations that are present in fully industrialized countries for example, United States, Britain, Australia etc. The western countries have been known to possess loose social and cultural ties in their societies therefore individualistic culture usually prevails in the respective region. The individual is not dependent on his orga nization, at any emotional level. The concepts of trust, loyalty and friendship do not bear much relevance in such cultures since greater success and profits overpower all other factors. Individualistic culture promotes the concept of enhancing their own identity on the basis of their unique traits. On the contrary, Asian and Middle Eastern countries have always treasured the factors of social harmony, religious norms etc. The culture in such regions is strongly influenced by religion and traditions of their past generations, due to which they value