International Business Course work 2 Coursework Example | Topics and Well Written Essays - 750 words

International Business Course work 2 - Coursework Example Ethnocentricity is defined as the belief in the superiority of ones ethnic group (Thefreedictionary). This quality is very common in a lot of cultures does marketers have to come up with strategies to persuade the population of a specific cultural group to purchase the products and services your company offers. A way to differentiate a company’s product in new marketplace is to create specific branding strategies that are geared towards the purchasing behavior or the target population. The values and beliefs of a country are characteristics that must be analyzed to determine the buyer behaviors of a country and to be able to send out messages that are clear to avoid miscommunications. Colors have different means across cultural boundaries. For example the color red in Europe is a sign of danger, while the same color in Japan means life (Halman). The customs and attitudes of a group of people determine the preferences of the customers of a region. Environmental scanning of the socio-cultural factor is a technique that can allow a firm to determine the existence of subcultures that can create further segmentation of the market that allows for marketing campaigns for specific customer profiles within a culture (Kotler). There are many elements of a culture that a company must be aware in order to operate a successful and profitable operation in an international location. Some of these elements are: local business hours, the existence of consumerism tendencies, society’s view about the importance of tangible possessions, and governmental intervention in local commerce among other elements. The culture of a region is composed of many different elements. The attitude towards work between nations varies considerably. For example American workers are workaholics who on the average work nearly 50 hours a week, while in