Individuals affiliated to a high-context culture tend to value group identity over individuality and mono-centric aspirations (Mead, 2004). They tend to imbibe meaning and information in a group scenario, without relying too much on explicit or direct communication (Mead,…
Chinese culture is an apt example of a high-context culture. Business meetings in China revolve around group choices and the agreed upon decisions are mostly finalized in advance, courtesy the instinctive and listener responsible approach of group members (Browaeys & Price, 2008).
The low-context cultures tend to be direct with the meaning inherent in any communication (Mead, 2004). They cherish individualism and are not very proficient in the non-verbal exchange of meaning and information (Mead, 2004). Low-context individuals predominantly rely on logic then on emotion to convey ideas (Mead, 2004). The communication patterns in low-context cultures are very structured with a preference for strategies that are rich in details (Mead, 2004). Low-context cultures value linear logic (Mead, 2004). US is a low-context culture where communications are direct and individualistic that are more targeted at specific situations and outcomes, rather than intending to communicate with the entire group (Browaeys & Price, 2008).
Factor Analysis: Factor analysis tends to statistically determine variability amongst the observed variables, in relation to a small number of unobserved variables (Lehmann, Gupta & Steckel, 1997). Factor analysis can be suitably used in a situation when the data to be analyzed is quiet large (Lehmann, Gupta & Steckel, 1997).
Cluster Analysis: Cluster analysis is ideally suitable for analyzing data having some natural groupings (Lehmann, Gupta & Steckel, 1997). It helps group raw data into clusters. This type of analysis helps determine similarities and variations between local and regional markets.
Multidimensional Scaling: Multidimensional scaling is a statistical technique, which facilitates information visualization, thereby allowing for the sifting of similar and dissimilar patterns in a data (Grover & Vriens, 2006). This technique could be exploited, when a marketer is required to select between varied alternatives. ...
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“Marketing Essay Example | Topics and Well Written Essays - 1500 Words - 29”, n.d. https://studentshare.net/miscellaneous/411312-marketing.
A marketing concept embraces the philosophy that good marketing strategy always has the needs and wants of the target market in mind. Marketing concepts are formed as creative approaches to the problem of how to get a product needed and desired by a group of consumers to be selected and purchased by this group.
The Marketing Teacher (2000) cited Barwell to expound on the term by indicating that “the marketing concept is a philosophy, not a system of marketing or an organizational structure. It is founded on the belief that profitable sales and satisfactory returns on investment can only be achieved by identifying, anticipating and satisfying customer needs and desires” (Marketing Teacher, par.
Hence marketing becomes one of the most crucial aspects of a business. Kotler et al (2007:7) has defined market as ‘a social and managerial process by which individuals and groups obtain what they need and want through creating and exchanging products and value with others’.
The guerilla marketing campaign of the T-Mobile company was run for five consecutive months by sponsoring near to 25 events in the local festivals, state, and county fairs. T-Mobile has very well comprehended the importance of such marketing initiatives for the company’s success by activating 5,000 new accounts at such events and organizing more than 26,000 “Mobile Makeovers” (Chipps 1).
This is because the objectives of the issues involved can have resemblance. Whether large or small, most marketers if not all, always struggle to meet customer requirements and at the same time meeting their own commercial and marketing objectives. The marketing planning process needs the harmonization of open- based decisions at the peak of the commercial level with more closely distinct actions at the bottom.
It is in this reason that the proponent of this paper tries to gather information about the basic concept of marketing and the probable impacts of internet on the dominant logic of marketing. Considering that the traditional-based marketing has