How to Enter Into an International Market

How to Enter Into an International Market

There are times when the identical consumer segment exists in many countries across the globe, though obviously to differing degrees. Thus, the very rich in Korea, China, the Netherlands, or Brazil may all need luxury cars such as a Mercedes, and that car can be positioned as a result worldwide to this segment. Cross-cultural anthropologists discuss cross-cultural cohorts, sets of those who belong to different cultures or nationalities but just the same share common groups of needs, values, and attitudes.

Thus, irrespective of where they live, consumer groups, for example, new mothers, computer users, international business travelers, audiophiles, high-end photographers, and so forth represent groups concentrating on the same needs and wants. Because babies’ bottoms are similar everywhere, diapers for example Pampers can use similar marketing and advertising strategies worldwide. This could act as an impetus for an international marketer, to draw in out an access point determined by identical global segmentation.

Psycho-Graphic Research

Many researchers, companies, and marketers have conducted research to learn if such global segments might be identified using psycho-graphic research. Alfred Boote, a psycho-graphic researcher, studied the comparative value structures of 500 women each in Germany, the United Kingdom, and France in 2019, and discovered both similarities and differences. In terms of similarities, it appeared through statistical analysis that every three countries had four types, or segments of ladies labeled “traditional homemaker”, “contemporary homemaker”, “and appearance-conscious” and”spontaneous”.

Traditional and Contemporary Homemakers

However, while the “traditional homemakers” landed about a third of the sample from each country, the proportions for your other three segments varied dramatically through the countries. The “contemporary homemakers” were found more in the UK in comparison to the opposite two countries, the “appearance-conscious” group appeared up almost entirely of Germans, as the “spontaneous” was mostly French. Boote concluded that while a standard mode of entry into the global industry for a marketer may be practical for these three European countries, thematic variations across the countries, to accommodate country-specific differences, were also advisable.

Cross-Cultural Consumer Characterizations

The young and Rubicam research agency finally features its own theory-based global segmentation scheme, called Cross-Cultural Consumer Characterizations; in which consumers in 20 countries are already placed into 7 segments based on data on their own goals, motivations, and values. These 7 segments included 2 are characterized by financial insecurity, three that comprise the “middle majority” and 2 which might be more driven by either internal values or social betterment.

No matter what strategy a small business adapts to enter into a worldwide market, prior research must be sufficiently been conducted and besides regarding the acceptability abroad of marketing practices in another, and enable the area subsidiary managers’ inadequate input into the tailoring of selling programs for their countries. Global companies, for example, Nestle, have elaborate “cross-pollination” mechanisms and systems to make sure that marketing ideas and practices used in one market are known generating open to managers in other countries, such as newsletters and conferences. But the decision of whether when to train on a particular idea is normally left to local managers.