Strategies adopted by MNC’s for Cross Cultural marketing in terms of India
Introduction
Marketing is commonly associated with endeavors such as branding, selling, and advertising, but it also encompasses activities and processes related to production, product development, distribution, and many other functions. Furthermore, on a less tangible level, marketing facilitates the distribution of goods and services within a society, particularly in free markets. Evidence of the pivotal role that marketing plays in free markets is the vast amount of resources it consumes: about 50 percent of all consumer Rs, in fact, pay for marketing-related activities.
Basic tenet of human behavior reveals an important aspect of marketing function—that producers are not capable of creating or shaping basic needs, but rather achieve marketing success by influencing wants. In other words, a chief goal of a marketing manager's job is to stimulate customers' "wants" for a product or service by persuading the consumer that the offering can help them better satisfies one or more of their needs.
And these needs vary from person to person, but still the common binding factor between needs of people from a common region is their culture. Its culture that defines what the need of the people is and how they prioritize it. For e.g. Indian culture focuses on sharing, and living together as one big family, so any product which promotes individuality and segmentation between relations will not be welcome in Indian society.
Indian Culture
The term culture refers to a state of intellectual development or manners. The social and political forces that influence the growth of a human being are defined as culture.
Indian culture is rich and diverse and as a result unique in its very ...