Impact of Culture on International Marketing Strategy Assignment

Impact of Culture on International Marketing Strategy - Assignment Example From the international business perspective culture refers to the distinct way of living for the people of a particular society. The term culture includes but is not limited to values, beliefs, assumption, moral, ethics, religion, etc of a society. These factors of culture are gradually learned from the members of the society and are passed from one generation to others. It defines and determines the ways in which the people of a particular society live. In addition to this, the culture of a society also determines what is acceptable and what is unacceptable for a society (Helsen 2009). As the market of developed countries like UK are getting saturated, and because of high level of competition it become important for the organization to look for the new territories and markets (Doole and Lowe 2008). Markets of developing countries like India and China are in the state of evolution and their economy is booming, because of which there are good amount of opportunities are present for th e foreign organizations. This statement can be supported by the fact that sales rates for Coca-Cola get doubled every three years in the countries like India, China and Indonesia, whereas in developed countries its average growth rates are below 5% (Fletcher 2007). Thus it can be said that developing countries provides more growth opportunities in comparison to the developed countries. But to capitalize these opportunities it is important for the organization to adopt a strong marketing strategy for such international markets. Currently, companies like Coca-Cola are targeting the elite population of developing countries. Most of the firms having imperialist mindset, which made them to sell the same products without any change as per the needs of the new market and consumers. Most of the organization believes that with the increase in the income level, people will start using their products. But this approach of the organization will help them to utilize only a part of the total mark et. At this stage, the role of international marketing come into the act as it helps the organization to understand the different market drivers, through which organization can capitalize the market well. Different market drivers are technology, culture, competition, etc. (Giligan and Hird 1986)