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Cultural dynamics in assessing global markets

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Cultural dynamics in assessing global markets

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Cultural dynamics in assessing global markets

  1. 1. " In The Name of Allah, The Most Beneficent, The Most Merciful, The Most Kind. "
  2. 2. CULTURAL DYNAMICS IN ASSESSING GLOBAL MARKETS A Presentation By, Fahmeed Hanif To, Sir Faheem Ali.
  3. 3. OVERVIEW  The importance of Culture to an International Marketer,  Definition and Origins of Culture.  The Elements of Culture.  Cultural knowledge and Cultural change.
  4. 4. CULTUR E ’ S P E RVA S I V E IMPACT  Culture affects every part of our lives, every day, from birth to death, and everything in between.  As countries move from agricultural to industrial to services economies’ birthrates decline.  Consequences of consumption  Culture not only affects consumption, it also affects production
  5. 5. DEFINITIONS AND ORIGINS OF CULTURE  Most traditional definitions of culture state that culture is the sum of the values, rituals, symbols, beliefs, and thought processes that are learned, shared by a group of people, and transmitted from generation to generation.  Humans make adaptations to changing environments through innovation.  Individuals learn culture from social institutions through: • Socialization (growing up) • Acculturation (adjusting to a new culture)
  6. 6. DEFINITIONS AND ORIGINS OF CULTURE  Geography  History  Technology  The political and economic systems • Three approaches to governance competed for world dominance: • Fascism • Communism • Democracy/Free Enterprise • Islamic Law
  7. 7. DEFINITIONS AND ORIGINS OF CULTURE  Social institutions • Family • Favoritism of boys in some cultures • Religion • Misunderstanding of beliefs • School • No country has been successful economically with less than 50% literacy. • Corporations • Most innovations are introduced to societies by companies
  8. 8. DEFINITIONS AND ORIGINS OF CULTURE  The media • Media time has replaced family time  Government • Governments try to influence the thinking and behaviors of adult citizens.  Cultural values • Individualism/Collectivism Index • Power Distance Index • Uncertainty Avoidance Index • Cultural Values and Consumer Behavior  Rituals • Marriage • Funerals
  9. 9. ELEMENTS OF CULTURE  Social Organization  When a culture organizes its members into smaller groups  What might some smaller groups be in a culture? • Families • Friends • Religious groups • Social classes • Occupation • Interest groups
  10. 10. ELEMENTS OF CULTURE  Social Organization, cont.  - family: the most important unit of social organization • Nuclear family- husband, wife, children • Extended family- several generations in one household  - respect for elders is usually strong in extended fams. social classes: a way to rank people in order of status • What can social class be based on? • Money • Occupation • Education • Race • Etc.
  11. 11. ELEMENTS OF CULTURE  Customs and Traditions • Rules of behavior (written and unwritten)  Language • Important for communication and passing on traditions and beliefs  Arts and Literature • Teach about a culture’s values • Promote cultural pride and unity • Could include technology and entertainment
  12. 12. ELEMENTS OF CULTURE  Religion • Monotheism: belief in one god • Polytheism: belief in more than one god  Major World Religions • Judaism, Christianity, Islam, Hinduism, Buddhism  Forms of Government • People form governments to provide for their common needs ; Types • Democracy: people have supreme power • Republic: people choose leaders to represent them • Dictatorship: a ruler or group holds power by force
  13. 13. ELEMENTS OF CULTURE  Economic Systems • Resources a community has • Four types  1. Traditional: people produce most of what they need to survive  2. Market: basic economic questions are answered by buying/selling goods and services  3. Command: government controls answers to economic questions  4. Mixed: individuals make some economic decisions, the government makes others
  14. 14. CULTURAL KNOWLEDGE  Factual knowledge vs. interpretive knowledge • Has meaning as a straightforward fact about a culture but assumes additional significance when interpreted within the context of the culture.  Cultural sensitivity and tolerance • Being attuned to the nuances of culture so that a new culture can be viewed objectively and appreciated. • Cultures are not right or wrong, better or worse, they are simply different. • The more exotic the situation, the more sensitive, tolerant, and flexible one needs to be.
  15. 15. CULTURAL CHANGE  Cultural borrowing: • Effort to learn from other cultures for better solutions to a society’s particular problems.  Similarities: an illusion • A common language does not guarantee a similar interpretation of word or phrases.  Resistance to change: • Cultural growth does not occur without some resistance. • Resistance to genetically modified (GM) foods

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