2.1.9

Cultural & Social Factors in Marketing

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Influence of Cultural and Social Factors on Global Expansion

Several factors influence a business’ consideration of global expansion:

Illustrative background for Cultural differencesIllustrative background for Cultural differences ?? "content

Cultural differences

  • Cultural differences can affect global expansion as businesses may need to adapt to the cultural differences of different countries.
  • Some nations may have communist or collaborative cultures like Vietnam and North Korea and others like the USA may have very individualistic cultures.
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Tastes

  • Different tastes can affect global expansion as businesses may need to adapt to the cultural differences of different countries.
Illustrative background for Language barriersIllustrative background for Language barriers ?? "content

Language barriers

  • Language barriers can affect global expansion as businesses may not have the skills and expertise within its business to trade through and across different languages.
  • If Seneca offers courses in Brazil, then it will have to provide courses and marketing in Portuguese (the national language).
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Unintended meanings

  • Unintended meanings, inappropriate and inaccurate translations and inappropriate branding and promotion can affect global expansion as businesses may need to recognise differences in cultural norms throughout the countries it operated in.
  • Cock is a common Dutch name, but clearly, some of you may find it amusing...
  • Coca Cola's brand translation in Chinese initially meant "Bite the tadpole".

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1Exploring Business

1.1Features of Business Organisations

1.1.1Sole Traders & Partnerships

1.1.2Private & Public Limited Companies

1.1.3Types of Liability & Not-For-Profits

1.1.4Purposes of Businesses

1.1.5Purposes of Businesses 2

1.1.6The Different Economic Sectors

1.1.7Multinational Companies

1.1.8Stakeholders

1.1.9Influence of Stakeholders

1.2Organisation of Businesses

1.2.1Organisational Structure

1.2.2Types of Organisational Structures

1.2.3Business Aims & Objectives

1.2.4Business Aims

1.2.5Business Objectives

1.3Business Environment

1.3.1External Influences

1.3.2Political & Legal Change

1.3.3Economic Environment

1.3.4Social & Technological Environment

1.3.5Lifestyle & Technological Environment

1.3.6Corporate Social Responsibility

1.3.7The Competitive Environment

1.3.8Innovation

1.3.9Risk & Uncertainty

1.3.10Porter's Five Forces

1.3.11SWOT Analysis

2Marketing Campaigns

2.1Marketing

2.1.1Setting Marketing Objectives

2.1.2Customer Needs

2.1.3The Market

2.1.4Competition & The Market

2.1.5Consumer Behaviour

2.1.6Market Research

2.1.7Forms of Market Research

2.1.8Market Segmentation

2.1.9Cultural & Social Factors in Marketing

2.1.10Promotional Decisions 3

2.1.11Pricing Strategies

2.2Marketing Mix

2.2.1Marketing Mix

2.2.2Product Life Cycle

2.2.3Pricing Decisions & Price Skimming

2.2.4Pricing Decisions & Price Penetration

2.2.5Promotional Decisions

2.2.6Promotional Decisions 2

2.2.7Promotional Decisions 3

2.2.8Market Mapping

3Business Finance

3.1Sources of Finance

3.1.1Internal Finance

3.1.2External Finance

3.1.3External Finance 2

3.1.4Sources of Business Finance

3.2Financial Planning

3.2.1Revenue

3.2.2Costs

3.2.3Cash & Cash Flow

3.2.4Cash & Cash Flow 2

3.2.5Break-Even Analysis

3.2.6Profits

3.3Financial Statements

3.3.1Balance Sheets

3.3.2Income Statements

3.3.3Liquidity

4International Business

4.1Globalisation

4.1.1Growing Economies

4.1.2Specialisation & Trade

4.2International Business

4.2.1Internationalisation

4.2.2International Trade

4.2.3MNCS

4.2.4Conditions that Prompt Trade

4.2.5Assessment of a Country

4.3International Economic Environment

4.3.1Globalisation

4.3.2Factors Contributing to Globalisation

4.3.3Protectionism

4.3.4The EU & the WTO

4.3.5Trading Blocs

4.4Factors Affecting International Business

4.4.1Global Competitiveness

4.4.2Ethics of Global Business

4.4.3Controlling MNCs

4.4.4Cultural & Social Factors in Marketing

5Principles of Management

5.1Management & Leadership

5.1.1Managers

5.1.2Management Theories

5.1.3Managing Organisational Culture

5.1.4Management Style

5.2Theories of Motivation

5.2.1Motivating & Engaging Employees

5.2.2Taylor's Theory

5.2.3Mayo's Theory

5.2.4Maslow's Theory

5.2.5Herzberg's Theory

5.3Managing Change

5.3.1Change

5.3.2Key Factors in Change

5.3.3Scenario Planning

5.3.4Managing Change

5.3.5Managing Strategic Implementation

6Business Decision Making

6.1Business Principles & Practices

6.1.1Influences in External Environments

6.1.2Product Decisions

6.1.3Competitive Environment

6.1.4Corporate Strategy

6.1.5Quantitative Sales Forecasting

6.1.6Legislation

6.2Quality Management

6.2.1Importance of Quality

6.2.2Measuring Quality

6.2.3Total Quality Management

6.2.4Evaluating TQM

6.3Human Resources

6.3.1Contracts

6.3.2Recruitment

6.3.3Training a Workforce

6.4Documents & Business Decisions

6.4.1Sales Forecasts

6.4.2Managing Strategic Implementation

6.4.3Problems with Strategy

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Market Segmentation

Promotional Decisions 3