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Cultural Dynamics in Assessing Global Markets

This chapter delves into the intricate aspects of culture, exploring how cultural origins, elements, values, and knowledge impact global markets. It discusses the influence of history, geography, and social institutions on consumer behavior and consumption patterns, emphasizing the significance of understanding cultural change and adaptation in a globalized world.

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Cultural Dynamics in Assessing Global Markets

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  1. Cultural Dynamics in Assessing Global Markets Chapter 4

  2. Culture • “The human-made part of human environment- the sum total of knowledge, belief, art, morals, laws, customs, and any other capabilities and habits acquired by humans as members of society.”

  3. Cultural Impact • Birth rates • China • Consumption levels of products • European & Japanese consumption

  4. Cultural Origins • Geography • The “direction” of innovation • History • Political economy • WWII • Cold War • War on Terror • Technology

  5. Cultural Origins • Social Institutions • Family • Religion • School • Media • Government • Corporations

  6. Elements of Culture • Cultural Values • Individualism/Collectivism Index • Power Distance Index • Uncertainty Avoidance Index • Masculinity/Femininity Index

  7. Elements of Culture • Rituals • Symbols • Language • Linguistic distances • Aesthetics • Arts, music, dance, folklore • Beliefs • Thought processes

  8. Cultural Knowledge • Factual knowledge • Can be learned • Interpretive knowledge • “Ability to understand cultural traits and patterns” • Cultural sensitivity

  9. Cultural Change • Cultural Borrowing • Just because things look the same does not mean that they are! • Resistance

  10. Planned v. Unplanned Change • Do any current factors conflict with innovation? • Should we change those factors? • Cultural congruence • Planned change • Unplanned change • Consequences

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