RECOMMENDING A MARKET MIX. 6
Recommendinga Market Mix
Cultureis one thing that you can hold dearly because it defines who you areand how your society has evolved for many years. More often, culturalnorms and practices dictate how people perceive and receive productsthat are supplied to them. For a company’s product do well acrossmultiple cultures, the company has to make a choice on either astandardized marketing mix or an adapted marketing mix model. This isaimed at ensuring that the company does not incur losses as well asgive the customer quality and acceptable product. This work is goingto explore which model my company can employ to venture into the newmarket.
Sinceit is the company’s first time to venture into these regions, Iwould recommend an adapted market mix. There are various culturalnorms and preference reasons (outlined below) as to why this modelwill suit my company.
Adaptationof promotion is also referred to as marketing communication mix itentails marketing, community relation, sales advertising, and thedirect marketing strategies that the company uses to convincinglycommunicate to clients as well as establish client relationships.Japan, South Korea, and Vietnam have different national languagesthus, for my company to reach maximum number of customers we have touse their specific languages in advertising our product (Keegan &Schlegelmilch 2001, p.461). Equally, due to different religions,economic differences, and laws of these countries, adaptation isessential for advertising messages.
Acrossthe aforementioned three countries, it is obvious there are differentchannels as well as places of distribution. It can prove difficult tostandardize distribution since there are varied channels depending ona country or a region. Adaptation of distribution markets cut costsincurred since such distribution is managed well at the local levels.Distribution can be done through supermarkets and shops, inindividual countries (Kale & Mclntyre, 2001 pg 123). Distributionchannels are dependent on factors such as the customer, culture,product, sales volume, and the level of involvement. Hence,adaptation on distribution comes handy to my company’s product.
Adaptationof the product
Itis vital for my company to present merchandise that is more valuablefor clients to ensure good advantage and a client loyalty. Mostimportantly, the merchandise should be well-matched with the locals’culture. (Calantone & Schmidt 2005, p.184-190). Due to the factthat cultural norms and practices among these countries are huge, thecompany has to engage adaptation of product model essentials thathave to be adapted include the color of the product, brand name,packaging, and designs. Otherwise, if adaptation is not affectedthere can be a cultural conflict between the locals and the product.
Undeniably,before a company introduces a product into the market there should bea through market research on different factors not limited tocultural norms and practices. This, in turn, will help establish theright market for such a product.
Calantone,R. J. Calvusgil, S.T, Schmidt, J.B. & Shin, G.C, 2004,Internationalization and Dynamics of Product Adaptation. AnEmpirical Investigation, Journal of Product Innovation Management,21,85-198.
Kale,S.H., and McIntyre, R.P, 1991, Distribution Channel Relationships inDiverse Cultures, InternationalMarket Review, 8(3),p.31-45.
Keegan,S.K., and Schlegelmilch, B.B, 2001, GlobalMarketing Management. A European Perspective,Ashford Colour Press Ltd, Gosport.