BUSN20016 Factors Affecting Product Marketing Assignment Sample

Subject Code : BUSN20016
University : Central Queensland University My Assignment Services is not sponsored or endorsed by this college or university.
Subject Name : Marketing

How Can Countries Use National Culture to Promote Exports?

Table of Contents

Problem Statement

Literature Review..

Research aim..

Scope and Limitation of the study

Methodology, source of secondary data and data analysis

References

Problem Statement

Product marketing is a type of marketing which involves finding right customers for the right product. It emphasize more on understanding the customers. It helps marketing people in gaining insight into the market and deliver task more efficiently. It enables us to understand buyer needs in relation to products and services provided by the company. For any product to be success marketing strategy should use combination of research, design and advertising. Product marketing enables to understand customer, effective targeting of buyers, products and marketing tactics, National cultural factors influence the marketing strategies at different levels (Bosson,2016). Large differences in sale of a product can be due to variation in cultural differences of the target market (Mooij,2017). So recognizing the importance of national culture is very important for any industry to succeed in exports to other country. National culture is one of the important factor that one should look while launching or exporting of product to country. In this study focus will be made on importance of national culture as marketing strategy and its role in promoting export by a country.

Literature Review of Factors Affecting Product Marketing

Ashraf,Zheng & Arshad (2016) in their study found out the positive relationship between bank risk taking decisions and national culture.

Liu,Tao & Tsai (2017) highlighted the importance of consumer nationalism on culture oriented marketing stratrgies

Fan, huang & Alexander (2017) found out that comparative advantage in cultural goods is positively associated with few dimensions of culture.

Budeva & Mullen (2017) analysed total exports data and found at that differences in culture significantly affect exports.

Hallikainen & Laukkanen (2018) found out that individual cultural dimension influences disposition between national culture and trustworthiness.

Soegoto &Rahmmansyah (2018) in their study indicated that the use of internet marketing. It helps in easy introduction of product, building customer loyalty and also saves cost & time involved in marketing.

Liu (2018) found out the role of national culture in explaining volatility in stock market. Understanding national culture and how it will serve as important marketing strategy in export

Talay, Akdeniz,& Obal (2019) analyse the role of national calture on launch of new products and found out that understanding culture of the country helps to draw insights for new product introduction in global market.

This study will be carried out taking Australia as example. To enhance growth and competitiveness, firms should focus on export market. Identifying factors determining exports are very important for a country to succeed in export market .Some of the characters which we need to understand before entering the market are demographics of the market, location of the market, understanding needs of target customers, market growth trend, demand for the product, competitors analysis, Potential barriers to entry into the market. While these are general factors which will helps us in understanding the market. Understanding cultural dimension of the market will boost the product sales in the market. It is one of the market strategy which need to be understand carefully (Author). In this background the role of understanding national culture in promoting export trade will be addressed in present study.

Research Aim

The aim of the research is to see how can countries use national culture to promote exports.

The objectives of the study are:

To identify the factors which are responsible for product marketing
To determine role of national culture in promoting exports

Scope and Limitation of The Study

Determining the factors which helps in promoting exports is needed for economic development of all the countries. This study lists those factors which help in promoting exports. This information can be used by firms to achieve their market potential. The current study is only limited to Australia and is completely related to qualitative data limiting its scope to draw broader decisions from the study.

Methodology, Source of Secondary Data and Data Analysis

The study employs qualitative data. The factor responsible for product marketing will be determined by doing systematic literature review. The various factors affecting product marketing will be listed out. To study the importance of national culture in promoting exports, data will be collected from firms. Sampling frame comprises of firms which involves in export trade. Firms from different industry involving in export will be selected. The pretested questionnaires are prepared using small sample of export firms . This questionnaires will be used to collect data from all the firms which involves in export business.

References for Factors Affecting Product Marketing

Ashraf,B.N.,Zheng,C.,& Arshad,S.(2016).Effects of national culture on bankrisk-taking behavior. Research in International Business and Finance,37:309-326.doi: 10.1016/j.ribaf.2016.01.015

Bosson,E.K.,Boolaky,M.,&Gungaphul,M.(2016). The influence of national culture on marketing strategies in Africa. Journal of Business Administration Research,5(2).doi: 10.5430/jbar.v5n2p83

Budeva,D.,& Mullen,M.R.(2017). Does culture matter for international market selection?.Inder Science Online,2017,1(2).doi: 10.1504/IJEXPORTM.2016.081570

Fan, Z., Huang, S.,& Alexander, W.R.J. (2017).Do national cultural traits affect comparative advantage in cultural goods? . 2017.Sustainability ,9(7), 1153.doi: https://doi.org/10.3390/su9071153

Hallikainen,H.,& Laukkanen,T.(2018). National culture and consumer trust in e-commerce. International Journal of Information Management,38(1):97-106.doi: 10.1016/j.ijinfomgt.2017.07.002

Liu, W. National culture effects on stock market volatility level. (2019).Empir Econ ,57:1229– 1253. doi:10.1007/s00181-018-1502

Liu,Y.,Tao,W.,&Tsai,W.S.(2017). Global versus local consumer culture positioning in a transitional market: understanding the influence of consumer nationalism, nternational Journal of Strategic Communication, 11:4, 344- 360, DOI: 10.1080/1553118X.2017.1339040

Mooij,M.D.(2017). Comparing dimensions of national culture for secondary analysis of consumer behavior data of different countries. International Marketing Review,34(3).doi: 10.1108/IMR-02-2016-0047

Soegoto, E. S.& Rahmansyah, M. R.(2018). Use of internet as product marketing media using internet marketing method. IOP Conference Series: Materials Science and Engineering,407(1):012053. doi:10.1088/1757-899X/407/1/012053

Talay, B.M., Akdeniz,M.B.,& Obal,M.(2019). Stock market reactions to new product launches in international markets: the moderating role of culture. Journal of International Marketing,27:81-98.doi:10.1177%2F1069031X19874789

Remember, at the center of any academic work, lies clarity and evidence. Should you need further assistance, do look up to our Marketing Assignment Help