Topic > Study on the importance of understanding customer traditions and behavior in a new business market

IndexModifying promotional campaigns for international marketsBest BuyOstelinConclusionWhen traveling to another country, it is essential to pay attention to legal, political, cultural differences and moral. Marketers also need to pay attention to these differences. Before launching a campaign or launching a new product, it is crucial to understand consumer behavior in that culture. For example, in some places coupons are frowned upon due to the fear of being seen as having lower social status (Clow & Baack, 2016). Markers face the challenge of adapting to a new culture when considering promotions, advertising and sales. Say no to plagiarism. Get a tailor-made essay on "Why Violent Video Games Shouldn't Be Banned"? Get an Original EssayModifying Promotional Campaigns for International MarketsBusinesses often need to modify their marketing strategy when entering an international market. If a company fails to culturally adapt to the target market's preferred methods, the project is likely to fail. It is argued that understanding the behavior of the target market is the most important factor when reaching a new cultural market. According to research on cultural differences and marketing, Calabrese, Capece, Costa and Di Pillo (2015) stated: “It is clear that it is absolutely necessary to have a complete knowledge of the basis and nature of the target group's consumption behavior” (page .176). If a company fails to understand key cultural differences, global marketing efforts may fail. For example, Best Buy failed miserably in its attempt to expand into China due to a failure to analyze consumer behavior. On the contrary, Ostelin managed to launch a multicultural campaign by adapting to the culture of the Muslim woman. Best Buy and Ostelin have expanded globally and could have improved promotional efforts by further researching the culture of their target market. Best Buy Best Buy is an electronics retail store that sells a variety of products including TVs, cell phones, cameras, radios and more. The company is based in the United States and reports that 70% of the American population lives within a fifteen minute radius of a Best Buy location (Best Buy, 2017). Best Buy is a household name in the United States, however the company has attempted to expand globally. For example, Best Buy attempted to address the Asian region by opening stores in China. Unfortunately, their plan collapsed and led to the closure of nine locations and ultimately exit from the Chinese market (Burkitt, 2014). Ultimately, Best Buy's inability to adapt to the culture and norms of the Chinese market ended in failure. Strategy and mistakes. When Best Buy entered China, there wasn't much thought about changing its marketing strategy to fit a different culture. This led to failure because China does not have the same marketing standards as the United States. For example, unlike the United States, there is not a great deal of interest in department stores. Shaun Rein (2011), managing director of the China Market Research Group, said: “While the size of the economy has allowed large chain stores in America to offer lower prices than niche players, local retailers in China are able to lower prices because they pay less in wages. , services, rent and electricity” (point 7). Unlike in the United States, Chinese consumers can purchase products at great prices in local stores. Best Buy also did not lend.