Marketing Strategies Of Foreign Multinational Brands Fail Essay

Marketing Strategies Of Foreign Multinational Brands Fail Essay

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With globalization on the rise more companies are spreading their wings and are expanding their business overseas. In order to capture sales in both local and foreign markets a company must market itself and its products and/or services to potential consumers. When choosing a marketing campaign many factors must be considered. On factor that is often overlooked though, is how culture can affect whether or not a marketing campaign will be successful or not. This can be a costly mistake. One must consider not one but all of the different cultural aspects of a nation in order to be successful.
Understanding how different cultures are similar and how they are different can help a company decrease the risk of failure in a given market area. According to Goodman’s AMC blog entitled “Why Marketing Strategies of Foreign Multinational Brands Fail in Ghana”, a company must not only understand the culture of their target market, but also be aware of current events taking place within the target nation. Current events such as wars, a change in political views, and changing taste can have a profound effect on cultural behavior. Jure Klepic agrees with Goodman, in his article “How Cultural Marketing is Different from Consumer Insight”, that keeping up to date on current events can help companies predict shifts in cultural behavior. Klepic believes that by being able to predict changes in culture behavior a company
can have a competitive advantage by being able to quickly adapt to meet the future needs of customers before their competitors (Cultural Marketing is Different from Consumer Insight).
Each country differs from another country, each has it own set of idea and believes. Many countries, like the United States, have more tha...

... middle of paper ...

...ion has an individualistic culture or a collectivism culture. An individualistic culture may find ads showing a girl looking at herself in a mirror to see how a pair of Old Navy jeans makes her butt look good, appealing. However, this same advertisement would not appeal to those in a collectivism culture because they value the needs of the group over the need of ones self. Instead Old Navy may use an advertisement showing how it donates a percentage of all the proceeds to a local charity.
When marketing products and services in a foreign country, one cannot assume that the same marketing campaign can be used successfully in all markets. A company needs to take into consideration different cultural aspects affects consumers responsiveness to an advertisement in order to be successful. Not taking into account these different aspects can cause a business to fail.

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