Consumer behavior

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CHAPTER 8: Applications to global marketing and advertising
Product-market development across countries: to predict it, usually, we take into consideration economic indicatorssuch as infrastructure, scientific and technological development and economic growth.
* Today, many markets have reached the age of mass consumption (a large number of peoplehave significant amounts of discretionary income) = Post-scarcity society. However, at the beginning of the 21st century, it wasn’t like this: many markets were not post-scarcitysocieties in an absolute way or due to differences in income distribution across societies ( some markets are homogeneous whereas others show large income differences).
* Tobetter predict the development of markets, a better understanding of culture is necessary. For that purpose, culture can be clustered (ex: a culture cluster for the developmentand effects of the Internet) adoption of innovation rates are explained by UAI- and PDI+. In our example, the purposes of usage of the Internet can be explained by MAS (for qualityof life in MAS- and productivity in MAS+).

Stages of market development: When there were more emerging markets, companies liked to enter them rapidly and invest heavily inthem in order to buy them. However, nowadays, this strategy is not that effective + can be criticized if the products are inappropriate.
* Stage 1: Global products, GlobalMarketing-Communications = Introduction of a product. Advertising can focus on attributes and both product and advertising can be standardized.
* Increase of competition:differentiation has to take place (adv. has to focus on benefits or values) + with more heterogeneous demand, these benefits and values can be adapted to the varying needs of each culture.
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