see attached
Week 2 Lecture
This week we continue to look at various elements as they relate to global marketing. Our readings this week focus on social and cultural influences in addition to political, legal and regulatory environments. In addition, we have an activity this week that is based on market research, which will be reviewed in this lecture.
Let’s start by identifying what social and cultural influences are as they pertain to marketing. According to Adams (2019), “social environmental forces are those forces that involve attitudes and shared beliefs of the population” (para 1). When looking at social environmental forces there are four areas to consider; population demographics, Time Consciousness, shifting gender roles and Environmental Consciousness (2019). Looking at the cultural influences, “culture refers to the influence of religious, family, educational, and social systems on people, how they live their lives, and the choices they make” (Lumen, n.d., para1). When studying culture in relation to marketing, there are several areas to consider, these include; language, customs and taboos, values, time and punctuality, business norms and religious beliefs and celebrations. Next is the political, legal and regulatory environments. It has been seen that the “political, legal, and regulatory forces of the marketing environment are closely interrelated. The political environment may determine what laws and regulations affecting specific marketers are enacted and how much the government purchases and from which suppliers. It can also be important in helping organizations secure foreign markets” (South-Western Cengage Learning, n.d., para5). All of these factors that play an essential role in marketing can best be analyzed by using a PESTEL analysis, which stands for political, economic, social, technology, environmental and legal.
Below are two videos that tie into culture and global marketing:
How Cultural Differences Affect Business
Links to an external site.
The Art of Marketing in a Global CultureLinks to an external site.
Next, we will look at market research and its role with global marketing. According to Business Jargons (n.d.), Market research “is the systematic collection, analysis, and interpretation of data pertaining to the marketing conditions (para 1). One of the main reasons why market research is needed is to identify changes in consumer behavior, which may be impacted by the marketing mix (price, product, place and promotion) (n.d.). When conducting marketing research there are six steps required. These steps include; 1. Define the objective & your “problem,” 2. Determine Your “Research Design,” which may include;
Exploratory Research, Descriptive Research or
Causal Research. 3. Design & Prepare Your “Research Instrument, ” 4. Collect Your Data, 5. Analyze Your Data and 6. Visualize Your Data and Communicate Results (Market Research Guy, 2019, para 2-12).
References
Adams, Daphne. (2019).
Social environmental forces in marketingLinks to an external site.
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Business Jargons. (n.d.).
Marketing researchLinks to an external site.
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Lumen. (n.d.).
Cultural factors shaping the global marketing environmentLinks to an external site.
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Market Research Guy. (2019, Apr 16).
The market research process: 6 steps to successLinks to an external site.
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The Lavin Agency Speakers Bureau. (2014, December 10).
How cultural differences affect business
Links to an external site.
[Video]. Youtube.
Cengage Learning. (n.d.).
Marketing environmentLinks to an external site.
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Van Quan, Nguyen. (2017, June 15).
The art of marketing in a global culture
Links to an external site.
[Video]. Youtube.
