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Because of this emphasis on operating as a multinational entity, the vocabulary of marketing now includes terms such as global, which refers to companies that are both “global” and “local”.
Second many firms have learned that overseas markets represent the single most important opportunity for their future growth when their home markets reach maturity.
According to Berkman (Zhang,et.al,2008) and Gilson, Cross-cultural research is a methodology for comparing cultures on the basis of similarities and differences as well as studying small segments of a total culture.A major objective of cross cultural buyer behavior is to determine how consumers of two or more societies are similar and how they are different.
The greater the similarity between nations, the more feasible it is to use relatively similar marketing strategies in each nation.
To gather further knowledge on how consumer analysis helps multinational marketer students can avail online assignment helpfrom SourceEssay.Market Expansion StrategiesIn a cross cultural analysis of English, United States, Canadian, and Australian markets, There are four strategies for expanding existing products into new markets.
A laundry detergent might be branded and packaged differently in Europe but would still be advertised with “brightness” claims.Different Product-Different Promotion:If both the cultural way of life and individual life styles is dramatically different in a new market, it may be most advisable to acquire existing firms there.
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