Monday, February 24, 2020
Article Analysis V Essay Example | Topics and Well Written Essays - 1000 words
Article Analysis V - Essay Example Thus it is a matter of effective communication. This is easier done in the language and culture of the consumer. In other words, the company must acquaint itself with the language and culture of consumers in order to communicate with them. In this regards, the packaging of the item being marketed also plays an important role. Standard packaging helps to create a brand identity. In the movie industry for example, dubbing is often done in local languages and this practice has improved in international studios. Differences in language and culture ââ¬Å"have a significant impact on the way a product may be used in a market, its brand name and the advertising campaignâ⬠(Bhushan) as McDonaldââ¬â¢s learnt for example, when they failed to appreciate the social cultural dimensions of the market in India. This makes the market hard to break into. To illustrate the problem of language in another region, the sound of Coca-Cola for example, translates into Chinese as ââ¬ËA thirsty mouthful of candle waxââ¬â¢. To get round this, the product is known as ââ¬ËKee Kou Keeleââ¬â¢ in China, which means ââ¬ËJoyful tastes and happinessââ¬â¢. Espoir Cosmetics is an international cosmetics company that wanted to create a new global branding initiative. Natasha Singh who is the executive vice president and global marketing officer of Espoir observes, ââ¬Å"A global strategy will resonate in India in some cases, but I doubt if we will be able to do away with local marketing initiatives. Itââ¬â¢s tough to overcome cultural differences.â⬠Thus, she makes it clear that a brand identity must be created in the local region. And, this requires communicating in the language and culture of the region. In this way, the ââ¬Ëpackagingââ¬â¢ is properly targeted. But this is not without some difficulties. The problem with a standard global strategy is that there is a tendency towards ââ¬Ëoverstandardizationââ¬â¢ or ââ¬Ëoversimplificationââ¬â¢, which also
Saturday, February 8, 2020
Market Orientation in Business Essay Example | Topics and Well Written Essays - 2250 words
Market Orientation in Business - Essay Example Considering any business term requires a clear understanding of what is meant by its name. Thus, it is necessary to give an explanation of the term ââ¬Ëmarket orientationââ¬â¢ before going to its detailed analysis. According to a definition provided by the Business Dictionary, market orientation is ââ¬Ëa business approach or philosophy that focuses on identifying and meeting the stated or hidden needs or wants of customersââ¬â¢. As stated in the Cambridge Dictionary, by the term ââ¬Ëmarket orientationââ¬â¢ one should understand ââ¬Ëmanagement of a company, product, brand, etc. so that it satisfies the needs of customersââ¬â¢. In the book ââ¬ËChanging Market Relationshipsââ¬â¢ written by Jean-Jacques Lambin, market orientation is defined as ââ¬Ëa set of capabilities, activities and behaviors needed to implement a strong marketing orientationââ¬â¢ (Lambin 2008).Despite the fact that all the definitions mentioned above reflect the main idea behind mar ket orientation quite clearly, the most comprehensive definition of the term is presented by Morgan and Strong in their work named ââ¬ËMarket Orientation and dimensions of strategic orientationââ¬â¢. In this work, the two authors define perceive the concept of market orientation as a certain mode of corporate management that is founded on encouraging a permanent gathering and sharing of statistical information regarding customers, appreciation of customer needs as a fundamental aspect of the business.
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