Global Marketing. Culture
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Transcript of Global Marketing. Culture
![Page 1: Global Marketing. Culture](https://reader034.fdocuments.us/reader034/viewer/2022042721/577cc0711a28aba711901f94/html5/thumbnails/1.jpg)
Culture
Importance of time in culture
P- time M –time
High context culture
Low context culture
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Elements of culture
1.Material cultureTechnology Economics
2. Social institutionsEducation family Political structure
3. Human and universeReligion Beliefs system
4. Aesthetic senseMusic/ arts heritage
5. Language
Global Marketing by Armoghan Tallat KHAN
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Culture knowledge
1.Factual knowledge
2.Interpretive knowledge
Culture values
1.Individualism/ collective index
2.Power distance
3.Uncertainty avoidance
4.Masculinity / femininity
Global Marketing by Armoghan Tallat KHAN
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Business customs or business culture
Criteria of adaptation or success
1.Open tolerance
2.Flexibility
3.Humour
4.Fair and justice
5.Ability to vary tempos
6.Curiosity and interest
Global Marketing by Armoghan Tallat KHAN
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7. Knowledge of the host country
8. Liking for others
9. Ability to command respect
10. Ability to integrate
Culture borrowings
Culture changes and resistance
Planned change Vs un-planned change
Global Marketing by Armoghan Tallat KHAN
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Classification of business customs
1.Culture imperatives
2.Culture electives
3.Culture exclusives
Global Marketing by Armoghan Tallat KHAN
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Methods of doing business / decision making process
1.Top level mgt decisions/ centralised approach
2.Decentralised approach
3.Group decision
culture and its influence in decision making
Global Marketing by Armoghan Tallat KHAN
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Impact of culture on management
1.Personal goals
2.Security and mobility
3.Personal goals
4.Social acceptance
5.Power
Global Marketing by Armoghan Tallat KHAN
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Ethics in culture
Responsiveness
Responsibility
Obligation
Bribery and its role in various cultures
1.Extortion
2.Subornation
3.lubrication
Global Marketing by Armoghan Tallat KHAN
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The political environment and risk in global marketing
Types of political risk
1.Confiscation
2. Expropriation
3. Domestication
Transfer of ownership
Management of host country
local content law /Import restriction
Other strict laws
Global Marketing by Armoghan Tallat KHAN
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Risk involvement in managing the business globally
1.Economic risk
2.Exchange control
3.Local content
4.Import restrictions
5.Tax control
6.Price control
7.Labour unions
Global Marketing by Armoghan Tallat KHAN
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Global Marketing by Armoghan Tallat KHAN
Other things to consider
1.Pressure of NGO’s
2.Violence and terrorism
3.Crime rate
4.Cyber crime rate
Solution
Planning
forecasting
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Strategies to reduce political risk
1.Joint venture
2.Expanding the credit line from host country
3.Controlling marketing and operational system
4.Licensing and franchising
5.Planned domestication
6.Political pay offs
Global Marketing by Armoghan Tallat KHAN
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Legal environment
Types of law
1.Common law
2.Code of law
criminal lawcivil lawcommercial law/ corporate law
3. Islamic law
Global Marketing by Armoghan Tallat KHAN
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Dispute and there resolution
1.Conciliation
2.Arbitration
3.Litigation
Global Marketing by Armoghan Tallat KHAN
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Cyber laws
Intellectual rights
Trade marks and logos
Green marketing laws
Child labour laws
Other ethical concerns
Global Marketing by Armoghan Tallat KHAN