Some segment markets may place importance on such color which is why Denon has to adapt. For example, in China and some eastern culture, the color of gold has favorable association unlike in the west where it is perceived as inappropriate for audio components. Warranties are also limited as a marketing strategy in some market to lower the price of the product to make it competitive in a price sensitive market. This could however pose issue in the long run because of the limited coverage of after sales support. What Denon could do is to improve its process to make it more efficient and relocate to regions where overheads are lower. The saved cost could be translated to lower prices without compromising the warranties of its products. 2 What are the problems you are likely to encounter with the distribution of your products in: China, Japan, and India? Which country poses the biggest problem? Explain your answer. The problems that will encountered in distributing products will depend on the market it is being distributed. In China, there are two main problems that a distributor or manufacturer will encounter which is the attempt to counterfeit Denon and the competition against cheaper counterfeit or mediocre products. In Japan, it would be the intense competition because Japan is basically home to the best brands in electronics such as Sony. In India, it would be the channels of distribution because despite of its relatively progressive economy, India’s retail sector is still catching up. 3 Many products fulfill both a functional need as well as a social need. When deciding how much to adapt an existing product for a new foreign market, which type of need should a marketer focus on? Explain your answer. There is a marketing cliche that when one markets a product we should “sell the sizzle and not the meat”. In the same manner that a product should be marketed that instead of highlighting its features and functions, a marketer can instead capitalize on its “benefits”. We can cite for example the hotel industry where rooms and amenities are almost the same. Hotels like Hilton however market the experience of staying in their hotels instead of selling occupancy of their rooms. 4 Comparing a supermarket in Tokyo, Japan with one in Dallas, Texas, which of the two is likely to have higher sales of snacks and sweets (Items usually found near the cash register at the checkout)? Explain your answer using the most relevant cultural dimension. Japanese as a people is only beginning to catch up with the cultural value of the west in terms of snacking. They are also not as impulsive when they buy products such as snacks and sweets and tend to scrutinize brands and packages before making a purchase. To market snacks and sweets in Japan, it has to be placed in an aisle designated for such under a recognizable brand name. In Dallas, Texas however, it works well for sweets and snacks to be placed near the cash register where consumers can readily add it up to their purchases as an afterthought. American consumers are known to be more impulsive compared to their counterparts in Japan. 5 A multinational corporation has the choice of following either a financial integration philosophy or a financial independence philosophy. In the long term, which choice should result in a firm having more subsidiaries around the world? Explain your ans
Name Professor Class Date 1 Denon, a manufacturer of semi-professional audio components sells the same basic version of their surround sound receivers using different model numbers and finishes (silver, black, gold tone) depending on the market in which it is intended to sell…
It then moves on to consider the impact of culture on different aspects of marketing, including marketing strategy and the marketing mix (product, price, place and promotion). Finally, a summary of the findings is provided as a conclusion. Definition of Terms It is important to understand the different meanings ascribed to terms, to provide a common framework for the discussion.
mation 13 2.1.4 Learning Activities 13 2.2 Usefulness of Training for Expatriates 13 2.2.1 Cultural Awareness 14 2.2.2 Resolution of Ethical Dilemmas 14 2.2.3 Communication and Negotiation 14 2.2.4 Conflict Resolution 15 2.3 Requirements for Working in Multi-Cultural Teams and Developing Intercultural 15 Relationships 15 2.3.1 International Knowledge 15 2.3.2 A drive of Communicating 16 2.3.3 Sociability 16 2.3.4 Cultural Flexibility 16 2.3.5 Cosmopolitan Orientation 17 2.3.6 Collaborative Style of Negotiating 17 2.4 Learning Outcomes of the Tutorials and Discussion in Class 17 2.5 Ways to Increase Multi-Cultural Awareness and Decrease Impact of Stereotyping 19 References 20 1.0 Part 1 1.1 Ex
Nevertheless, even in instances where the organisations have developed initiatives to cultivate cultural awareness, productive application of employees and diversity management, it is often discerned that essential information remains absent among personnel concerning the precise description of diversity; alongside fundamental differences of particular cultural and ethnic groups and most vital for management executives, a paradigm and context for identifying the function of individual self-identity in human development, behaviour, and apparently in the workplace.
Marketing Objectives for the Project 3 III.Initial Research: 4 IV.Target Market Segments 5 a)Identification: 5 b)Reasons for Selection: 5 V.Promotion and Marketing Strategies: 5 VI.Promotional Tools: 6 Recommendations: 7 References 9 Introduction: McDonalds has been known for the intensive marketing and excellent strategies that the company adopts across all of its locations around the world.
20-45, 1969). Thus, the marketing mix that the company employs while selling their product or service, is highly dependent on the relevant target market. This means that as one moves from marketing in one culture, to marketing in a different culture, one changes the marketing mix to adjust to the differences in the culture.
For example, although Mandarin is the national language of China, there at least more than one hundred other languages as a result of the large number of ethnic groups in China. Non-verbal communications are also important and can present difficulties in high-context cultures such as China, Japan and India.
They also limit the warranties depending on where the product is marketed. Why does Denon do this? What else could they do to combat this problem? Marketers, all over the world, sell their products in different markets with unique needs and characteristics.
Hofstede (1991) defines cross-cultural marketing as strategic practice of marketing between consumers who have a different culture that differ with that of the marketer, at least by one of major cultural issues, for example religion, language, education, living style and social values and norms.
Here this report aims at developing a plan for the company to introduce a new product into the well established markets of Canada. The report will provide a detailed marketing plan for the introduction of the new product into the markets. Before moving into the
This means that as one moves from marketing in one culture, to marketing in a different culture, one changes the marketing mix to adjust to the differences in the culture. With this manipulation of elements,
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