Cross-Cultural Consumer Behavior 2 Flashcards
Reasons to Pursue Global Markets
Multinational Fever
- Attractive multinational markets, products, services
- Consumers around the globe eager to try “foreign” products
Overseas markets offer future growth when home markets mature
Spending Power
Most important criteria for identifying global marketing opportunities
Middle Class & Teen Market
Middle Class Growth
- By 2025, China will have the world’s largest middle class.
- By 2025, India’s middle class will be 10 times larger.
Global Teen Market – similar interests, desires, and consumption behavior.
Global Value Groups
Strivers: ambitious and materialistic.
Devouts: responsible, respectful, and conservative.
Altruist: unselfish in their concern for others, society, and the future.
Intimates: focus on social relationships and family.
Fun Seekers: young in age and outlook, value adventure and good times.
Creatives: seek knowledge and insight, and have a keen interest in books and new media.
KFC In China
KFC embarked on a journey to enter the Chinese market in 1987.
The fast-food industry in China was predominantly focused on traditional Chinese cuisine, and consumer tastes were vastly different from those in Western markets.
KFC recognized the need to adapt its menu to suit Chinese palates.
KFC’s marketing campaigns emphasized family-oriented values, recognizing the significance of family in Chinese culture.
During its initial expansion, KFC faced food safety concerns. To address these issues, the company implemented stringent food safety standards and transparent communication about quality control measures. By prioritizing consumer safety, KFC regained trust among Chinese consumers.
KFC capitalized on major Chinese cultural events, such as Chinese New Year. They offered limited-edition products, festive promotions, and red envelope giveaways, aligning with the spirit of celebration and gift-giving during these occasions.
