What is Global Impacts of Marketing - Essay Example

Global Marketing The objective of this essay is to identify and evaluate the cultural and non-cultural consequences for an organization expandinginto a foreign market in the context of global marketing. The term global marketing refers to worldwide marketing which employs strategies that either reconciles market differences in operations or takes advantage of differences and similarities. (Levitt, 1983) Cultural differences may however, compromise the goal of marketing the same product in the same way in different markets.(Levitt, 1983) In order to effectively evaluate these challenges this essay will use the scenario of Louis Vuitton entering India. Louis Vuitton is a luxury fashion and leather goods company headquartered in Paris and France. (Louis Vuitton) India is fast becoming an international fashion destination, coordinating efforts with international designers so that Indian designers are exposed internationally and foreign designs are exposed in India. (Business Desk, 2009) However, there are a number of internal and external environmental factors with respect to marketing strategies that Louis Vuitton will be required to take into account for the purpose of adapting to and entering the India market. Each of these factors will be examined in this essay. In order to facilitate a smooth transition into the Indian business environment Louis Vuitton will be required to understand the cultural differences. The Hofstede Model of Cultural Dimensions can act as a useful guideline for determining the cultural differences in India and what can be done in the business organization to accommodate those differences. Hofstede identified five cultural dimensions that are relevant for global marketing strategies. The first cultural dimension on Hofstede's cultural dimension scale is Power Distance Index (PDI). PDI draws on the level of equity and inequity among the population in a nation's society. High Power Distance Index will mean that power and wealth is distributed at a high rate of inequality in that society. In this regard citizens are generally denied upward growth. Low Power Distance typically means that the society is driven by equal opportunities ambitions.(Hofstede, 2001) According to Hofstede's Power Distance Index, India ranks 77 which is high. However, it is not that far ahead of France's PDI which is at 68 (Hofstede's Dimension of Culture Scale) The average PDI around the globe is 56. (Hofstede's Dimension of Culture Scale) The difficulty with countries showing high PDI rankings for businesses is that the individual from that culture will typically defer to higher authority for a decision even if they are aware that something is terribly wrong and what measures are required to correct it. The Korean Air crash in Guam is one example of the consequences of a high PDI ranking. In this scenario, the pilot made an error which the co-pilot was aware of, but deferred to the pilot's decision who was his superior.(Gladwell, 2008) For the purposes of internal organization of the business office in India, Indian employees are likely to adhere to the power structure within the organization. Even so, a high PDI is also indicative of fear of and ambivalence toward anything foreign.(Chan and Cheung, 2008) The second of Hofstede's cultural dimension is Individualism (IDV). IDV emphasises the level with which the particular society focuses on either individual or collective relationships and achievements. A country with a high IDV ranking is generally one in which the emphasis is on individuality and individual rights. Persons within in high IDV countries gravitate toward more relaxed relationships. Conversely, low IDV rankings are typically characterised by collectivism and more tightly woven relationships between persons. Low ranking IDV countries typically focus on families and a collective approach toward looking out for the members within in their tightly woven circle.(Hofstede, 2001) India's IDV ranking is 48 and relatively low when compared to France which is at 71. (Hofstede's Dimension of Culture Scale) This disparity means that Indians, as a low ranking IDV culture will typically be "more consensus oriented" while the French as a high IDV culture will be more individualistic. .(Melkman and Trotman, 2005, 9) The French trainers will therefore be required to manage the Indian workers as a group rather than as individuals. Horfstede's third cultural dimension is Masculinity (MAS). MAS measures the degree to which a country emphasises or does not emphasise male dominance in terms of control and power structures. Obviously a high MAS ranking indicates that the country revolves around gender distinctions. The inevitable result is a male dominated society in which females are virtually second class citizens. (Hofstede, 2001) A Low Masculinity ranking will mean just the opposite and the emphasis is on gender equality.(Hofstede, 2001) India's MAS is 56 and France's is 43(Hofstede's Dimension of Culture Scale) indicating that the culture gap in terms of gender distinctions is relatively narrow. Be that as it may, India's MAS ranking is higher and this means that workers place more emphasis on earning potential and opportunities for advancement.(Information Resources Management Association, 2002) Studies find that men in countries with high MAS ranking tend to be more assertive and aggressive than men in countries with low MAS ranking. Men in Switzerland which has a MAS ranking of 60, not much higher than India, tended to be more competitive and dominating than women. Louis Vuitton may wish to determine whether or not it wants dominating and competitive employees when determining whether or not to hire males or females in India. All indications are that females will not be as competitive and assertive as men. (Meyers) Horfstede's fourth cultural dimension is Uncertainty Avoidance Index (UAI). UAI measures the degree to which persons within a society will tolerate ambiguity and uncertainty. A country with a high UAI ranking is typically intolerant toward uncertainty and ambiguity. The result is a rule-based society laws and policies calculated to contain uncertainty. A country with a low UAI indicates tolerance of uncertainty. These kinds of societies are typically able to adapt to change and will engage in risk taking. (Hofstede, 2001) France has a high UAI ranking at 80 while India's is relatively low at 40. (Hofstede's Dimension of Culture Scale) This may be problematic for France in terms of trusting its regional managers of Indian origins since the French tend to be less trustful of the unknown or the unexpected. In any event, Louis Vuitton should take all steps to collaborate with its Indian managers to solve complex problems. Working with Indian managers would not be problematic since they are generally tolerant of uncertainty. A low UAI ranking means that workers are more open to new ideas. (Sriramesh and Vercis, 2003) The fifth cultural dimension is Long-term Orientation (LTO). LTO measures the degree to which a society adheres to tradition or not, long-term commitment to tradition and forward thinking aspirations. High LTO rankings typifies a society that is steeped in tradition and long-term aspirations. People within high LTO ranking societies typically work hard and expect to be awarded accordingly. Be that as it may, businesses, especially foreign businesses will often take a longer time to grow in these high ranking LTO nations. A low LTO ranking typically indicates that the society is not committed to long-term values and tradition. These countries are more adaptable to change since long-term values and traditions will not present obstacles to change. (Hofstede, 2001) While France is not ranked on Hofstedes Dimension of Culture Scales with respect to LTO, India is ranked at 61. This is quite high, when compared to Germany which is ranked at 31 and Great Britain, which is ranked at 25. (Hofstede's Dimension of Culture Scale) Since India's LTO ranking is high, workers are expected to function on the belief that important results will happen in the future and are not entirely focused on building relationships and achieving results quickly. (Sriramesh and Vercis, 2003) In this reguard, if Louis Vuitton hopes to obtain fast results in India, a rigorous training programme will have to be implemented. Based on Hofstede's cultural dimension, setting up Louis Vuitton in India requires a delicate approach to organizational structuring. Although India and France appears to be close in terms of PDI ranking, the inherent fear of and ambivalence toward anything foreign will require that the Indian office of Louis Vuitton ensure that a significant portion of its workers be Indian as a means of eradicating the fear of foreigners and foreign goods. India's low IDV ranking further supports taking this approach since India culture focuses on close knit circles and France does not. In terms of MAS ranking India and France are not that divided. Both countries appear to share vastly similar attitudes toward gender distinctions and that attitude appears to be more geared toward equality of the sexes although they do not appear to disregard it altogether. There appears to be no real pressure for Louis Vuitton to alter its approach toward gender policies in India since both countries share vastly similar values in this regard. India's UAI ranking also indicates that setting up a business in India will not be difficult with respect to engaging Indian participation since its UAI is low indicating that Indians are risk takers and amenable to change. India's high LTO however, indicates that Louis Vuitton should ensure that Indian workers are adequately paid for their services and that once hired, they have good work ethics and commitment. Setting up business in India will also require an analysis of the external environment. This will help Louis Vuitton determine what steps will have to be taken to successfully market their goods in an Indian market. The PEST Analysis is the best method for making these determinations. The PEST analysis is an anagram for Political, Economic, Social and Technological analysis. (Armstrong, 2006) Legal factors are also taken into account in a PEST analysis. (Dibb and Simkin, 2004) To this end the PEST analysis identifies key models for determination. The political factors ascertains the level of government intervention with respect to the economy. This would necessarily include taxing practices and policies, employment laws, environmental protections laws, tariffs, trade barriers and the country's political stability. While India is to a great extent a democracy with great influence from Great Britain, it can be tough on foreign business. For instance corporate taxes for Indian companies is 35 percent and foreign companies is 40 percent.(Ministry of Economy, Trade and Industry: Japan, 2002) Other concerns are the manner in which Indian legislatures make changes to the law. This happens so frequently that it is difficult to keep track of current laws. Infrastructure is also a problem with frequent black-outs effecting the daily operation of businesses. (Ministry of Economy, Trade and Industry: Japan, 2002) Another difficulty is found in India's labour laws which require permission from the government to effect lay offs when a company has in excess of 100 employees. Obtaining permission is usually difficult. (Ministry of Economy, Trade and Industry: Japan, 2002) In order to overcome this difficulty, Louis Vuitton should consider keeping the number of its employees below 100. As for the corporate taxes, Louis Vuitton may wish to take the matter up with the World Trade Organization since India has been a member since 1995. (India and the WTO) Members of the World Trade Organization are required to subscribe to the General Agreement on Trade in Services which mandates the removal of restrictions to trade and for equal treatment in that regard of all WTO members.(Ghosh and Whalley, 1998) By taking the matter up with the WTO, Louis Vuitton may be able to negotiate for a reduction of corporate taxes. Economic factors that are relevant to Louis Vuitton are economic growth and development in India, its interest rates, exchange rates as well as inflation rates. These factors will determine how Louis Vuitton operates its business in India. Interests rates impact the companies capital costs and how Louis Vuitton will be able to grow in India. Last July India announced an increase in interest rates. (The Hindu) This is something that Louis Vuitton might want to take account of in determining how much growth it expects to achieve in India. Be that as it may, India is experiencing rapid economic expansion and is not an economic risk for a foreign company. (Schomer,2008) Social factors take account of cultural elements such as health, population size, age, career goals and safety. Social factors of this nature will predict the level of demand for Louis Vuitton's products. It will also determine the available workforce in India. The fact is there are national and cultural differences between nations. These differences "can be tabulated" and responded to. (Clark, 1990) Moreover, "observed differences have significant bearing on the behaviour of both consumers and market decision makers." (Clark, 1990) Placing some value on any observed differences will be beneficial to the foreign country. (Clark, 1990) There is definitely a market for Louis Vuitton in India as India has been attempting to make it a top fashion destination. (Srinvasan, 2003) As for India's workforce, India's workforce is primarily young. (Schomer, 2009) Technological facts take into consideration ecological and environmental concerns and will include automation, technological goals and changes. This area should not pose difficulties for Louis Vuitton since India's new and growing industry is the IT sector. (Schomer, 2008) The only real drawback is the propensity for blackouts that could impact production. This can be easily averted by the installation of backup power such as generators. Environmental factors such as weather conditions, climate and climate change are all relevant for assessing how the business will operate. India's size and geographical expansion exposes it to a variety of climate changes. A lot will depend on where Louis Vuitton intends to set up its business. Decisions will have to made about outdoor displays if the location is susceptible to heavy and frequent rains. Law will also be important for the purposes of the legal factors analysis of PEST. These laws will also help Louis Vuttoin run and implement its business expansion to India. Louis Vuitton could set up a company to run its business in India as India's company law closely mirrors that of England's. Under the Companies Act 1956, companies are separate and distinct for its shareholders and are subjected to limited liability principles. Moreover, foreigners can be appointed directors of an Indian company without prior approval. (Companies Act 1956, India) Market Selection and Entry (MENS) is a very important step for any business expanding outside its own territory. Since Louis Vuitton has significant experience in this area, this should not be a difficulty for them in determining what steps should be taken with respect to entry. The typical approach is to investigate "licensing, franchising and subcontracting" as viable entry modes.(Buckley and Casson, 1998) Since Louis Vuitton has experienced difficulties with counterfeiting in the past and has adapted a counter measure by selling its products in its own stores or online (Louis Vuitton), licensing appears to be its best entry option. Subcontracting and franchising implies that a third party will run the company's business abroad, and this does not correspond with Louis Vuitton's current business policies. Franchising means delegating control to a third party. While this may absolve the franchisor of the duty to monitor the franchisee's operation it will be inconsistent with Louis Vuitton's policy of direct control over its designs. In one example, Le Gourmet Gift Basket Inc, an American company with a franchise in Hong Kong, received an order for an American themed basket to a location in Hong Kong. Le Gourmet called the Hong Kong franchise to take the order. The cultural and language barriers resulted in a Chinese-themed basket delivery and the unhappy customer threatening to sue. (Tahmincioglu, 2004) So while, franchising can alleviate some responsibilities it can divest the franchisor of control while at the same time leaving the franchisor liable for the conduct of the franchisee. Generally, market selection in foreign markets rely on macroeconomic and political considerations. (Sakarya, S.; Eckman, M. and Hyllegard, K. 2007) Politically, India is a democracy and as such comports to an open market economy. (Thomas, 1996) Even so, there are conflicts and difficulties among Muslims and Hindus as well as some human rights abuses. (Thomas, 1996) Likewise, while India's economic development is promising, a significant portion of the Indian population lives below the poverty line. Louis Vuitton may want to take account of consumers living below the poverty line. Fashion observers indicate that fashion designers are becoming more sensitive to consumers impacted by economic factors and are combining expensive designs with cheap designs. This may be a tactic that Louis Vuitton may want to follow in India. (Krupa, 2009) However, recent reports indicate that despite the global economic crisis, India's economy is expected to continue to grow. (Overdorf, 2009) So despite the set backs with regard to the Muslims and Hindus, human rights concerns and the poverty in India, as a growing and promising economy, India is a viable market selection for Louis Vuitton, particularly since India is seeking to establish itself as a fashion destination. (Gilligan and Hird, 1986) The key to successfully introducing international products into a country is to introduce something new and innovative. (Gilligan and Hird, 1986) This approach is important for determining whether or not to take a standardized or adaptive approach. For example, if the company is introducing a new line and targeting a unique group, such as an age specific consumer at home, they may find it more productive to take an adaptive approach to this new launch. Louis Vuitton may want to consider the introduction of an Indian line of luxury fashion that identifies with Indian culture in some way. This approach would make Louis Vuitton more appealing to the Indian populace and can act as a set up for the introduction of Louis Vuitton's traditional designs. The combined products will also appeal to visitors to India and those who travel to India specifically for shopping. The steps to be taken for introducing a product to a foreign market, are essentially the same as introducing products domestically. (Gilligan and Hird, 1986) After the initial idea for a new and innovative product is generated, an initial screening should be conducted. This should be followed by a "business analysis." (Gilligan and Hird, 1986, 185) Only after these steps are taken should the product be developed following which a test of the market should be conducted. Then finally, the product should be launched. (Gilligan and Hird, 1986) In determining whether or not to proceed by virtue of standardized or adaptive strategies, a marketing programme will have to be considered. Marketing programmes are best understood as: "'the packing together of elements of: product policies, pricing policies, marketing communications, and distribution and service policies." (Piercy, 2002, 574) Cumulatively, these elements require knowing what values the particular market segment emphasises. Once this is assessed the company can then go about planning its product policies, pricing policies, marketing communications and distribution. Distribution is something that Louis Vuitton conducts for its own economic protection, bearing in mind that it is vulnerable to counterfeiting. Therefore that part of the marketing programme will remain untouched. Pricing policies will have to take account of competitive pricing in the Indian market, the cost of production, overhead and economic factors outside of the company. As for marketing communication, Louis Vuitton will want to determine the most effective means of advertising its brand in a new market. This may be accomplished by a number of mediums such as magazines, print media, broadcast, internet or mail catalogues. Louis Vuitton can use a variety of mediums to accommodate the illiteracy rate in India. While the adult population's literacy rate is at 66 percent, the youth literacy rate is at 82 percent, demonstrating that India's literacy rate is improving. (Economic Survey 2004-2005) Be that as it may, a significant portion of the population is illiterate and all efforts should be made to reach all consumers. An initial introduction could also offer a discount sale to lure shoppers. This would obviously impact pricing. In any event, the purpose of the marketing programme is to familiarize consumers with the company's presence and its products. Although Louis Vuitton does not typically offer discounts, a departure from this trend may improve its chances of a smooth transition into a market where fear and mistrust of anything foreign is prevalent. This should be a one time exercise because building brand equity and consumer loyalty should be properly focused on potentially lifetime shoppers rather than price conscious, one-time customers. The decision to standardize or adapt marketing patterns so as to obtain optimum business results will depend upon the circumstances within the foreign market. (Theodosiou and Leonidou, 2003) Some researchers argue that despite cultural differences, there are a "common base of cross-cultural similarities" that make standardization of advertisement "highly appropriate." (Saad, 2007, 152) In fact supporters of the standardization approach to advertising and marketing a product internationally take the position that there are greater differences within a specific group than there are between groups. (Saab 2007, 253) Be that as it may, adaptation appears to be the more effective marketing strategy because it commands specific attention to: "product-specific factors (e.g. type of product or service, stage in the product life cycle), existing marketing conditions (e.g. distribution channels), the strategic intent of advertises, the physical and legal environments, macroeconomic indicators (e.g., economic and industrial development), competitive forces, and consumer-specific factors (e.g. demographics, psychographics)." (Saab 2007, 253) Moreover, a vast majority of studies and surveys indicate that there are significant cross-cultural differences across borders which supports the decision to comport with an adaptation strategy for marketing products across borders. (Saab 2007, 253) It is particularly important to take the adaptation approach to advertising in India for the purpose of accommodating language and religious nuances. The Muslim population may be more inclined to respond to a more conservative form of advertising rather than the typical racy fashion advertising used in Western democracies. Although standardized advertisement is conducive to a homongeneous environment it has some difficulties across heterogeneous environments. (Snyder, 1991) Standardization can be compromised by elements related to execution.(Wee et al, 1995) For instance in India, advertising laws mandate that advertisements do not offend public standards of decency.(Basu) This is a very broad criteria and anyone's guess what might be offensive to India's standard's of public decency. Advertising generally takes account of literacy, education, income levels of target groups, traditions, consumption habits and religion. (De Mooij, 2000) Since neither of these elements have universal application, adaptation appears to be the best method for taking account of these variants across borders. Indian culture is diverse with over 400 languages and several religions, particularly Hinduism and has some of the most deeply religious cultures.(Singh, Bindloss, Clammer and Eberle, 2005) These cultural factors alone require a customised approach to advertising in India. Marketing an international branding can be a complex exercise. The company obviously wants to ensure that its brand maintains international recognition and at the same time correspond with the culture it is currently serving. McDonalds found away to close the gap by changing is Diet Coke to Coca Cola light in those countries that did not recognize the word diet.(The Challenges of the International Branding, 2004) Moreover, in India, the infamous Big Mac is missing from McDonald's menu to accommodate beef abstinence. In its place is a Maharaja Mac which is made of lamb or chicken. The McAloo Tikki, a vegetarian burger is also available in Indian McDonalds. In another twist, McDonalds serves beer in Germany and in Canada, McDonalds serves a McLobster roll. Japan's McDonald's serves shrimp burgers and burgers made of mashed potatoes, cabbage and katsu sauce, shrimp nuggets and Green-Tea flavoured milkshakes. (Adams, 2007) In this regard, adaptation is the best method for advertising an international brand locally. 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