The Role of Cultural Differences in Influencing Different Marketing Strategies in MNCs
This is a vital part of your Programme and will contribute substantially to your personal development. Your MSc Dissertation is worth 40 Credits (two times as much as a taught Module). For academic dissertation help, you will be expected to demonstrate where appropriate your skills in providing:
(a) A synthesis of the literature.
(b) An analysis of quantitative and/or qualitative information.
(c) A summary of empirical results whether found by experimentation, observation, survey or interview.
(d) The implications of the findings.
There is a set of generic learning outcomes that are expected to be demonstrated. These are that students should, on completion of the Dissertation, have demonstrated:
(a) An ability to organise and plan their own research activity within the context of their original Dissertation specification and time limit.
(b) The production of a logical, coherent and well-structured analysis of both existing knowledge of their Dissertation field and their own contribution to that field.
(c) The applicability of concepts learned in the taught Programme to their specific field of applied research and the critical ability to evaluate the limitations of these as applied to that field.
(d) Where applicable, the relevance of their work to their organisation generally and to specific issues within the organisation with which they are involved.
These generic learning outcomes are reflected in the Assessment Criteria for all MSc Programmes in The Business School. This is detailed below:
The overall pass mark for the Dissertation is 50% (P1)
Nature of the Work
The main purpose of the Dissertation is to enable you to demonstrate to the satisfaction of the examiners that you can undertake an independent piece of research in a specialist area of your choice at Masters Level.
This will involve you in showing that you can design, implement and defend a research project in terms of the research problem identified; the research method(s) used and the conclusions arrived at.
The word limit, excluding abstract, acknowledgements, table of contents, reference list and appendices is set at 15,000 words (+/- 10%) for all MSc Dissertations in The Business School.
Submission of Dissertation
A number of ‘rules’ apply to the submission format for the MSc. Dissertation. These are presented in detail in a later Section of this guide. However it should be noted that these ‘rules’ are to be strictly adhered to in the interests of consistency, comparability, readability and quality of presentation.
Writing the Dissertation can seem like a major obstacle as it is likely to be the biggest single piece of academic work you will have undertaken. However, if you have a clear idea of the structure and nature of the research you have done or are doing then it makes it much easier to have a clear plan for the structure of the Dissertation.
The structure of the final Dissertation is to be presented as follows:
First inside page - Title, your name and year (2021, 2022, etc.)
(See Appendix III for an example of the FRONT page and the FIRST inside page)
• Contents page
• List of Tables & Figures
• First Chapter - Introduction (research purpose and objectives)
• Chapters 2, 3, 4 etc.
• Final Chapter – Conclusions and Recommandations
A single list in alphabetical order by author or organisation of all of the works cited in your text. There must be a 1-1 relationship here; if you have cited a source in your text then there must be an associated reference. Similarly if you have referenced a source then there must be an associated citation in your text. The Reference list must not be in bullet- or numbered-list format and (unlike the rest of the Dissertation) should be formatted at single-line spacing.
Additional supporting material such as a copy of the questionnaire, interview schedule, letter of introduction, tables of statistics etc. This material is seen as essential to the Dissertation but would otherwise interrupt the flow of text and is therefore placed in an appendix.
CHAPTER 1: INTRODUCTION
People from many different cultural backgrounds collaborate to achieve a shared objective in this age of globalisation. In this manner, one of the essential elements to be established is how each group of individuals may be brought together to create the ultimate success story with which the organisations can prosper. This is one of the crucial aspects that are to be developed. The marketing tactics that multinational corporations implement (MNCs) ensure that different cultural groups cooperate by becoming dependent on one another and continue to implement successful strategies that may contribute to the advancement of the situation. The primary objective of this dissertation is to determine which marketing strategies are necessary for the success of multinational corporations (MNCs). This will be accomplished by determining which marketing strategies are essential for influencing cultural differences and identifying those strategies that are essential for bringing about the success of MNCs. In this chapter, the researcher is given the study's historical context and the research's purposes, objectives, and questions, which might assist the researcher in maintaining an appropriate research guide.
The cultural habits of the global market have a significant impact on the marketing mix approach. Because of the technological revolution, contemporary businesses may more effectively extend their operations to worldwide markets. As a result, awareness of cultural variations in an international context is critical to a company's foreign business strategy. The economic parts of commercial organisations have developed more rapidly due to globalisation. Technological advancements have impacted international corporate organisations' financial models, and innovative elements may be seen in their present marketing methods (tradewindfinance.com, 2022). The ability of technology to analyse cultural characteristics before moving on with the creation of marketing plans has transformed the marketing strategies of worldwide organisations.
Several multinational organisations have emphasised their business techniques to serve many worldwide clients' needs better. On the other hand, regional economic accords have a significant influence on corporate strategy. For foreign organisations, adopting a marketing plan has become more difficult due to the proliferation of cultural regulations (worldbank.org, 2018). For an international organisation's marketing plan to be more effective, the management of international organisations must analyse the economic characteristics of a specific culture.
Economic agreements significantly influence the pricing strategy of services and goods. Thus it is important for management to analyse the economic agreement. Knowledge of local customs and traditions enhances the success of a company's an advertising and marketing campaigns. Marketing techniques of an organisation's management are heavily influenced by local language and culture (FM-magazine.com, 2019). Before launching a marketing plan, management must thoroughly understand the local language to boost the efficiency and efficacy of marketing services and goods in developing new markets.
McDonald's management has been ineffectual in its approach to overseas markets due to the detrimental influence on the company's financial health at a higher level. Failing in international markets has diminished the brand value of its goods, making it unable to improve its position even on its turf (Feng et al., 2019). The management of this company has decided to empower local officials to start creating efficient advertising campaigns in their respective regions, even though authorities can assess all cultural elements that have a greater chance of influencing the promotion of its goods and services.
Because of cultural variances and activities conducted by various cultural groupings, customers' requirements vary (ama.org, 2020). ThusCultural customs shape consumer behaviour. It is critical for businesses looking to expand into new areas to grasp their cultural identity.
1.3 Research Aim
This study aims to determine the influence that cultural variations have on multinational corporations' various marketing methods. Dissertation findings may be used to show how MNCs have been successful because of the contributions of people from different cultures.
1.4 Research Objectives
? To evaluate the significance of culture for MNCs
? To analysethe meaning of cultural differences at MNCs
? To evaluate the cultural differences in MNCs and how they manage those
? To identify the role of cultural difference in Global Marketing Strategies
1.5 Research Questions
? What is the significance of culture for MNCs?
? What is the meaning of cultural differences at MNCs?
? What are the cultural differences in MNCs and how they manage those?
? What is the role of cultural difference in Global Marketing Strategies?
1.6 Research Hypothesis
H1: Cultural variations have a significant impact on the myriad of marketing approaches used by multinational corporations (MNCs).
H0: There is no effect of cultural variations on the various marketing methods used by multinational corporations (MNCs).
1.7 Research Rationale
Figure 1: Differences in the cultural aspects in the different countries
(Source: Guzman et al., 2018)
Various nations have different cultural features. Community members of various ethnic backgrounds choose separate lives, and the things they use to sustain these lifestyles vary. Thus the management of an organisation needs to be aware of these differences to develop an efficient marketing plan. Organisational managers may use the distinctions in power politics to differentiate between the many marketing tactics that can help them better advertise their goods and services to their clients. For successful globalisation, organisation management must continue their active engagement by implementing a more effective marketing plan.
Figure 2: Marketing spending is increasing dramatically
(Source: statista.com, 2021)
Organisational management must spend more money to reach overseas markets and promote goods and services. The marketing system used by organisations, such as directories, telemarketing, public relations, and sales promotions, receives significant funding from upper management. Telemarketing accounted for 61.4 billion dollars in U.S. spending in the 2020 fiscal year. However, overall marketing expenditure has risen to 244.7 billion dollars (statista.com, 2021). To cover the costs of its increased promotional spending, the company has had to raise the prices of its goods and services.
This study will provide insight into how multinational corporations' marketing strategies interact with regional cultural norms. Organisational management may benefit from this study's focus on the impact of cultural characteristics on marketing strategy in foreign nations. It will help them better grasp the cultural influences that affect marketing strategy in foreign countries. This paper's main goal is to shed light on cultural behaviours that have a greater potential to affect MNCs' marketing strategies. For other organisations, this report might be a useful starting point in their efforts to keep up with the growing trend of globalisation. Using this specific study article, managers of organisations may better understand crucial facets of culture in other nations, increasing their company's chances of international growth success.
1.8 Research Significance
An important aspect of this study is that it examines social and cultural trends' role in shaping marketing strategy. There has never been a more critical time to examine how cultural differences affect a company's marketing strategy than now, thanks to the proliferation of multinational corporations and their capacity to expand across international marketplaces. Nearly 213 million organisations, according to the latest statistics, will be in existence throughout the globe in 2020. (statista.com, 2021). In other words, if this is the case, it suggests that these companies are driven to consider the cultural preferences of the customers they serve worldwide.
1.9 Structure of the Dissertation
The dissertation's five chapters are devoted to achieving the stated goals. The first chapter introduces the research, providing context for the rest of the book. It lays forth the goals, objectives, and issues that must be addressed to apply the ideas and concepts discussed in the dissertation effectively. In the second chapter, the factors linked with the issue are critically explained together with the current notions and theories. Various academic papers and arguments are discussed in this section. Data collection and analysis methods are discussed in the third chapter, devoted to accomplishing the study's goals. The fourth chapter aids in evaluating the data acquired and aligning it with the literature review evidence. The conclusion of the study is developed in the last chapter.
For this study, it is necessary to examine the influence of culture and comprehend cultural differences in marketing. This study's goals include a look at how various cultural facets affect multinational corporations' marketing strategies. Additionally, it has explored issues such as the problems of cultural differences in marketing and the techniques used by companies to overcome these obstacles.
CHAPTER 2: LITERATURE REVIEW
The literature review analyses key ideas and theories to conduct an in-depth study on the subject. An overarching strategy can only be devised if a thorough understanding of the current research literature is obtained first. In this scenario, one of the most significant aspects is that both the issue and the variables are argued and counterargued. Scholars' differing viewpoints are emphasised in this chapter to maintain an exhaustive investigation that can identify the issue.
2.2 Concept of cultural differences
When identifying the ideas and values necessary to make a system work, cultural variations influence how an integrated system of socially learned values is put together. It is possible to discern the general application of cultural differences amongst the many social groupings in the market. A key benefit of cultural differences is that they provide a broader range of options for employees inside an organisation, according to Rao-Nicholson and Khan (2017). Cultural variations are seen as having a long-term impact on an organisation's business strategy when it comes to making decisions and establishing plans. Because of this, the notion is critical in bringing together individuals from all backgrounds and fostering globalisation that allows each company and its workers to have an enormously beneficial influence on the current market, as stated by Gherasim&Gherasim (2018).
Social Exchange Theory (SET)
Marketing and cultural differences are examined using ideas such as the social exchange theory to understand the link between the two. This is a key paradigm for explaining cross-cultural communication. Social behaviour is generally seen as a direct outcome of the interchange and interaction between various groups. These social connections are evaluated for their efficacy by evaluating the benefits and drawbacks they provide.
It is claimed in the idea that a person would consider the costs and benefits of social contact while deciding whether or not to engage in it. As stated by Caas-Bajo and Silvennoinen (2017), the theory may be used to comprehend better and sustain the level of communication between individuals influenced by diverse cultural trends, which is one of its most important uses. For this reason, the behaviour of society's members may be predicted by looking at the dangers and advantages of various scenarios.
This suggests that individuals often anticipate other people's contact with them to result in reciprocal behaviour as part of the communication process. This shows that incentives and costs are essential in evaluating social relationships within groups (Cropanzano et al., 2017). Applying this theory to marketing is feasible by focusing on the potential benefits customers will get from implementing various marketing strategies. Because cultural differences affect the relative value consumers place on a marketing message, cultural differences are important criteria for understanding marketing tactics.
Without an examination of the culture, it is impossible to identify the areas that need development. To fully comprehend the behaviour of each group, the total application of growth methods must be linked to cultural phenomena, according to Kotler, Kartajaya, and Setiawan (2019). Feng et al. (2019) claim that applying the social exchange theory to organisations is an effective and efficient approach to analysing the market and applying the effects that may be present in today's market condition. This notion may be used by businesses looking to expand internationally.
2.4 Model for cultural differences
Cultural dimensions by Hofstede (the 4+1 model)
The Cultural Aspects model developed by Geert Hofstede is a helpful framework for comprehending the influence different cultures have on marketing. It elucidates four key aspects that are essential to knowing cultural values, and it does so in a comprehensive manner. These four factors—individualism against collectivism, uncertainty avoidance, power distance, and masculinity versus femininity—impact the myriad of cultures that can be found worldwide. According to Guzman et al. (2018), the many features listed above impact the norms, values, and beliefs that people in these cultures uphold to maintain a sense of equilibrium. Collectivistic groups, for instance, place a higher premium on qualities such as acceptance, belonging, and harmony than individual societies. According to Rao-Nicholson and Khan (2017), these values impact the different cultural preferences of MNCs. These preferences, in turn, impact the marketing strategies used by MNCs.
The methodology developed by Hofstede examines the domains in which every company has room for growth to attain greater success in the market. According to Reddy, Adhikari, and Chitranshi (2017), this is also important throughout the development process because it may help combat and mitigate the current external environment. This was significant since it was relevant throughout the growth process. It is essential to remember that in this particular setting, Hofstede's dimension may be a helpful instrument in assessing how successful a firm maybe even before it hits the market. This is something that you should keep in mind at all times. To be sure, attaining all of the model's dimensions may not be enough to guarantee success for any business. This is because Katsikeas et al. found that the model cannot be completely comprehended by altering only one culture-related factor at a time (2019). As a consequence, the app, although helpful for determining the extent to which a market has the potential to be successful, may also cause users to have concerns over the app itself.
2.5 Marketing techniques adopted by MNCs
When striving to compete in a global market that is so large and diverse, multinational corporations often use a wide range of marketing strategies. This is partly due to their customer base's geographical and cultural diversity. The 4Ps of the marketing mix, location, product, price, and promotion, all impact the marketing tactics companies use. Dadzie and his colleagues made this discovery (2017). As a direct result of this approach, many businesses use various marketing strategies, such as demand differentiation, segmentation, positioning, and targeting, to better target certain audiences. This methodology is appropriate for these kinds of businesses when it comes to researching their clientele's cultural and social backgrounds.
Another important marketing tactic used by MNCs is the uniformity of marketing. According to Song et al. (2018), the standardisation of products, strategies, and distribution channels, which may lead to global and domestic transactions, explains this phenomenon. This is one way a market initiative's effectiveness in bringing about a certain aspect of cultures may be evaluated. Felipe et al. (2017), point out that marketers and companies have the potential to benefit from the change in the market by catering to the requirements of the local community. It is essential to maintain a watchful eye on the industry to ensure that the marketing methods being used can successfully coordinate the interactions between staff and clients. The prominence of multinational firms may be connected to the significance of this aspect for marketing strategies.
Global enterprises need to maintain a consistent image of their brand. Doing so pushes them to standardise their products across different cultural zones and compels them to utilise the same logo, slogan, or name. According to Rao-Nicholson and Khan (2017), standardisation has become an increasingly significant component of many organisations' attempts to advertise their products or services around the globe. According to Tan and Sousa, a multinational corporation's degree of business relatedness is a significant factor in determining whether or not it will continue operating in the global market (2018). Establishing a feeling of connectivity may be accomplished in several ways, one of which is by adopting a marketing strategy built on maintaining similar distribution techniques and commodities throughout markets.
In the same vein, it is normal practice for multinational firms to adopt marketing strategies that are distinctive to an area's culture and location. According to Luo and Shenkar (2017), localisation is an integrated marketing approach that multinational businesses (MNCs) employ to adapt to a competitive market by better matching the cultural expectations of their consumers. This allows MNCs to satisfy the needs of their customers better. They suggest that the use of a native labour force and the development of a language of communication that is culturally suitable are prerequisites to successfully incorporating a strategy for cost-effective marketing. According to Hennart (2019), international business transactions highlight the significance of digital services and the application of new technologies in marketing.
2.6 Elements of culture
Language systems, values, traditions, religious perspectives, and corporate standards are some of the cultural aspects that may significantly affect a company's approach to selling products and services. According to Payne et al. (2018), a company's workplace culture, which includes the company's values, vision, participation, and leadership support, directly influences the firm's internal and external communication strategy. This influence can be positive or negative, depending on the situation. These ideas, for instance, may affect the degree to which multinational corporations are transparent and open with their clientele.
According to Gherasim and Gherasim (2018), the multiple aspects of culture, including material and spiritual, drive worldwide marketing. Material culture comprises everything from clothing and homes to jewellery and weapons, which is the best indicator of a civilisation's overall strengths and manufacturing capabilities. Material culture can be found in almost every aspect of society. Consequently, the spiritual culture will affect the communication tactics and language talents used by these groups. In addition, Steenkamp (2019) asserts that local consumer culture is becoming more important, which pushes businesses to use localised marketing strategies. This is the case despite declarations that global consumer culture is growing more popular due to rising globalisation.
Multiple facets of national and regional culture impact multinational corporations' market strategies and directions. According to Paurova et al. (2019), the culture of a business is comprised of elements like harmony and the capacity to exercise leadership, which affects the marketing strategies the firm uses. This shows that marketing in multinational firms is impacted not just by the internal cultures of these organisations but also by the cultures of the outside environments in which they operate.
According to Caas-Bajo and Silvennoinen (2017), the level of contextualisation determining a consumer's propensity to accept marketing and promotional messages conveyed via audio and visual media is quite high. A firm's approach to problem-solving is impacted by its organisational culture, which in turn has repercussions on how the company markets and sells its products and services (Elsbach and Stigliani, 2018). This indicates that how a corporation communicates is impacted by elements such as the focus on creativity and innovation within the organisation's corporate culture.
To successfully implement the global marketing strategy on the market and carry out cultural research, other considerations may be necessary to take into account. According to Rao-Nicholson and Khan, some of the aspects of the market that need to be investigated for the presence of cultural components include linguistics, symbols, values, and customs (2017). According to Tan and Sousa (2018), an active account of the locations is essential so that marketing potential and social security may significantly impact cultural awareness of the market variables. This was shown to be the case for these factors to have an effect. To put it another way, one of the cultural aspects that have been taken into consideration to achieve commercial success is how an organisation's commitment to the moral behaviour of its employees in the workplace has been carried out. Because of this, Steenkamp (2019) contends that cultural traits and advantages significantly impact the beginning of the work as a whole and the mindset that prevails among marketers. This significant component has important repercussions for both the cultural and managerial aspects of marketing.
2.7 Cultural Differences and Global Marketing Strategies
Because multinational corporations engage in such a high volume of cross-cultural transactions and acquisitions, the marketing operations of these corporations are susceptible to the cultural differences that exist across their target markets. According to Kotler, Kartajaya, and Setiawan's research, many businesses have recently adopted a global marketing approach that is more attuned to the needs and priorities of consumers in various countries and cultures (2019). The marketing choices made by customers have been shown to have a considerable impact on the branding strategies used by businesses; as a result, customers now have more agency and are more actively engaged in the decision-making process.
This would imply that multinational corporations have been able to modify their global marketing strategies to capitalise on the cultural variety within their client bases. The management strategies these organisations put into practice also play a part in deciding how much interaction they have with their consumers. These corporations have locations worldwide and hire employees from a diverse spectrum of cultural, racial, and ethnic backgrounds. As a consequence of this, a company culture that is capable of dealing with cultural differences represents a huge step forward in the process of establishing effective international marketing strategies that are beneficial to consumers (Groysberg et al., 2018).
When they are handled well, employees who come from a variety of cultural backgrounds have a variety of perspectives and points of view, which may lead to marketing tactics that are more inventive and inclusive. According to Watson et al. (2018), cultural differences substantially affect the foreign market entry techniques that firms employ. These tactics include the specific relational approaches that affect an organisation's economic success. The preferences and tastes of consumers have an impact, in turn, on economic integration across borders, which influences the adoption of relational, hybrid, and global digital marketing approaches.
2.8 Impact of culture on marketing strategies in the MNCs
As discussed in earlier chapters, a wide variety of cultural aspects, including symbols, value systems, and language structures, significantly impact the marketing strategies used by a variety of firms. Song et al. (2018) state that the national cultures of the countries where multinational corporations operate affect the marketing strategies and product offerings that these corporations use. It is more probable that a diverse group of consumers would embrace a product if it is crafted considering its target audience's gastronomic and cultural preferences. Customers are more likely to remain loyal to these products, which will assist these multinational firms in developing a favourable perception of their brand.
When considering marketing strategies, it is essential to keep in mind that cultural differences have the potential to have a significant amount of effect on the development of significant business. According to Elsbach and Stigliani (2018), every part of marketing should be examined in light of the uniqueness employed to connect with the target audience. To put it another way, Groysberg et al. (2018) assert that one of the most important components of marketing a product is relying on a universal language that individuals from various nations can understand.
As a direct consequence, one of the essential components of establishing trust with the audience you already have is improved. This may have a catastrophic impact on long-term customers. Any business attempting to expand into a new region where English is not the predominant language may benefit from being aware of this knowledge. According to Watson et al. (2018), language is one of the most critical parts of a marketing strategy. This is because language is key for bridging the gap between cultural differences and maintaining the required applications while dealing with market difficulties. According to Yun and colleagues (2020) research, an impact of this kind is of the utmost relevance in ensuring that every organisation comprehends its marketing plan.
According to Yun et al. (2020), a company's culture is one of the most important factors in determining how well it can innovate and successfully manage its internal and external resources. According to this, companies that promote racial and cultural diversity may want to consider developing marketing strategies that are more original and inventive. According to Felipe et al. (2017), cultural values play a crucial part in influencing the degree of adaptability implemented in various businesses. This is what we mean when we say that marketing strategies are adaptable because supporting dynamic cultural variations leads to adaptable marketing strategies that consider consumer preferences across worldwide marketplaces. This is what we mean when we say that marketing techniques are flexible. Companies are increasingly resorting to diversity marketing, crafting advertising campaigns that emphasise the distinctive traits of various cultures to attract a larger spectrum of prospective clients. This marketing is becoming more popular (Petrescu&Krishen, 2019).
Multinational fashion companies in various countries have been paying particular attention to the cultural preferences of women in different parts of the world. Accordingly, the promotion of multinational firms' brand names and images is significantly aided by using multicultural marketing strategies. Consequently, these approaches focus more intently on the best ways to market one's wares to certain cultural subsets that exist inside the larger national culture.
2.9 Challenges of Marketing
According to a large number of academics' findings, there are various challenges associated with integrating cultural diversity into a company's marketing strategy. According to Katsikeas and colleagues' research, these firms' global marketing tactics often use a tone and terminology that some cultures can consider offensive (2019). Because these companies are based in various countries and employ languages and communication styles native to those countries, there is a significant problem with the advertising message being misunderstood or misinterpreted.
According to Leonidou and Hultman, relationship marketing has become a significant challenge for many of these companies as they pursue the development of cross-cultural joint ventures and partnerships. Many of these businesses are interested in forming joint ventures and partnerships with businesses located in other cultural regions (2019). As a result, effective management of multinational corporations' subsidiary firms' cultural diversity is essential to the success of customer-focused marketing strategies.
As was said before, the language used in a business endeavour greatly affects the level of success it has. According to Payne and colleagues, among other things, businesses must understand the native tongue before extending their operations to increase the number of customers they serve (2018). The failure of the language to win the audience's trust is a barrier or obstacle from the marketing standpoint. Local businesses are favoured above their foreign counterparts, irrespective of how the foreign companies display their language. According to Paurova et al. (2019), this continues to be one of the areas in marketing departments that has the potential to have a negative impact on the organisation's cultural authenticity.
Elsbach and Stigliani (2018) note that another issue that may arise is a person's conviction in their ability to solve the situation. This suggests that every unethical practice used by marketers has the potential to significantly impact their capacity to sustain their current level of accomplishment. Consequently, this may be seen as having a substantial impact on the formulation of marketing plans. As a result, one of the ideas that may be considered for this sector is the provision of businesses with an accompanying tour of maintaining their marketing ability.
2.10 Ways Developed By MNCs To Market Among Cultural Differences
It is possible to get around cultural differences by implementing an internal management strategy that recognises, appreciates, and preserves such distinctions in global organisations (MNCs). According to Reddy, Adhikari, and Chitranshi (2017), for a company to foster cultural diversity, it must have a dynamic workforce comprised of individuals with a wide variety of intellectual skills. They contend that this is essential to a company's ability to appeal to a more diverse group of customers and prospective employees. According to the research of writers such as Ali and Konrad (2017), it is much simpler for companies to appeal to a wide range of consumers if they have a diverse workforce. Considering the diverse cultural backgrounds of the people who use a company's goods or services would enable firms to forge stronger connections with the consumers who buy their goods and services.
To successfully create an inclusive working environment, it is essential to have a diverse board of directors and to hire practices that include people from various backgrounds. The management of a company's relationships with its customers, often known as customer relationship management (CRM), is an essential performance driver for many multinational companies (MNCs) worldwide. By using these tactics, which include networking on social media, businesses may improve their connections with consumers and get a deeper understanding of the cultural preferences of their clients.
2.11 Literature Gap
Academic papers evaluated in this area have not addressed crucial topics about cultural distinctions, such as the disparities in cultural orientations among consumers in a certain geographic location. These texts show no evidence of customer preferences for standardised and localised marketing methods. There has also been no evaluation of the profitability of different marketing tactics based on industry reports from various multinational corporations (MNCs).
A thorough literature study may understand the dissertation subject and its variables. According to the literature study, the MNCs need to understand the underlying concepts and tactics of the issue to succeed. Through this chapter, readers will better understand how cultural variations impact business performance while contributing to market shifts. The next chapter offers an overview of the data that will be gathered and the methods of analysis used.
CHAPTER 3: RESEARCH METHODOLOGY
This chapter will focus on determining the methodologies that may contribute to the effective conclusion of the research project. It is necessary to determine the data that will be appropriate for the conclusion of the study, and it is also necessary to take into account the method of analysis that will be used. One of the most significant applications of this chapter is that it may assist bring about a grasp of the ethical concerns that are essential for bringing about the complete collection of the data. This is one of the major applications of the chapter. The restrictions that have been imposed on the study as a result of its findings are also discussed in the chapter.
3.2 Research Philosophy
The research philosophy outlines the procedures for collecting and analysing data about a phenomenon and offers the rationale for doing so. The research philosophy needs to play a role in generating new insights into challenges, which can then be included in creating hypotheses and quantitative research. According to Abutabenjeh and Jaradat (2018), research philosophy has three distinct schools of thought. These schools of thought include realism philosophy, positivism philosophy, and interpretivism philosophy. In this dissertation, the philosophy of interpretivism is put to use primarily due to the fact that it has the potential to assist in the process of bringing about knowledge of the topic that is being researched. The research is carried out in accordance with the principles so that certain functions may be carried out for the purpose of ensuring and motivating the social world.
Interpretivism was the research philosophy that was used for this research. The school of thought known as interpretivism maintains that people are complex, multifaceted entities that are capable of seeing the same world in a variety of different ways (Snyder, 2019). For the purposes of this study, it was necessary to make use of primary data, which was gathered by conducting interviews with the respondents. These participants included the administrators of an elderly care facility. In addition to this, the study needed the collecting of secondary data from academic publications and other scholarly works, as well as an analysis of this data based on rational considerations.
In both instances, it was required to interpret the received data in a subjective way. The researcher used qualitative methodologies in order to perform the analysis of the data that was obtained (Newman and Gough, 2020). As a result, interpretivism became the research philosophy of choice. The primary objective of the study was to gain an in-depth understanding of the thoughts, emotions, experiences, and lives of people who were a part of the population that was the focus of the investigation, as well as to develop an empathic comprehension of the motivations that lie behind the actions and behaviours that they engage in on a daily basis (Rinjit, 2020).
3.3 Research approach
The research approach is the strategy and technique that exists in bringing about broad assumptions of the data gathered and its procedures. It is formed by the research approach. The application is based on the research issue that has been solved by bringing together the current hypothesis and the research objectives. This has been done in order to accomplish the research goals. One of the essential uses of the research technique is that it provides assistance to the research in aligning any material with the hypothesis produced for the study. Either the inductive or the deductive method may be used as the research strategy. In this particular scenario, the application of the deductive method is something that is being taken into consideration, mostly owing to the fact that the investigation being carried out is predicated on the formation of a hypothesis as a result of the theories that are already in place.
The deductive research technique was used for this research. When the researcher set out to do deductive research, he or she began with an existing hypothesis that was connected to the subject of the investigation (this theory was obtained as a result of previous research conducted through an inductive approach). On the basis of this previously established theory, the researcher proceeded to develop a hypothesis that may be shown to be incorrect (Dwigo and Dwigo-Barosz, 2018). Following that, the researcher went out to gather information pertinent to the subject of the investigation. The main and secondary methods of data collecting were used in conjunction with one another to compile these results. The researcher's hypothesised explanation was put to the test via the data collecting process, which was the primary objective.
Following the collection of data, a qualitative analysis was performed on it in order to acquire a deeper understanding of the subject of the study (Zangirolami-Raimundo et al. 2019). Following an examination of the data, the researcher was able to reach a conclusion on whether or not the hypothesis should be accepted. One of the benefits that accrued to the researcher as a result of their use of the deductive method was that the conclusion was guaranteed to be accurate. This was due to the fact that all of the premises that were initially taken into consideration were accurate in every circumstance, and the researcher's line of reasoning was logical and appropriate (Nayak and Singh, 2021).
3.4 Research design
The research design contributes to the process of determining the framework that will be used in order to keep the research methodologies and procedures intact. The use of the research design aids in the utilisation of techniques that are essential and appropriate for performing the study in an effective way. This is made possible via the application of the research design. The research design may be broken down into three distinct categories which are descriptive design, explanatory design, and exploratory design.
The researcher has used an explanatory research design. Explanatory research can manifest in many ways, such as experiments conducted in which the researcher assesses a hypothesis by attempting to manipulate variables or interviews and surveys that are used to gather insights from participants about their experiences (Snyder, 2019). Both of these types of studies are examples of explanatory research. Research with an explanatory focus attempts not to add to existing knowledge or to provide a solution to a particular issue; rather, its objective is to comprehend why something takes place. The researcher got a greater understanding of a topic via an explanation study, but this kind of research does not assist them in predicting what could occur in the future.
Research that seeks to explain anything sometimes goes by other titles, such as ex post facto research and causal research. The primary objective of research that seeks to explain anything is to improve participants' comprehension of the topic at hand. Either fundamental or applied research may accomplish this goal. When the researcher wishes to explain the link between two variables that the researcher cannot alter, then they will utilise this technique. In light of this fact, the researcher has little choice but to depend on secondary data in order to comprehend the variables (Snyder, 2019). When doing explanatory research, the data are often gathered prior to the start of the study, and they are also typically gathered by a person or organisation that is not the same as the one conducting the research. The practices of random sampling and random allocation are not used in explanatory research.
3.5 Data collection method
An investigation of the many approaches that may be used to amass the essential data for the successful conclusion of the study is produced by the data collecting technique. According to Ruggiano and Perry (2019), there are often two distinct kinds of data gathering methods, which are referred to as the main data collection technique and the secondary data collection method. In this instance, the principal data collection mechanism is put into action to acquire the necessary information. The rationale for this is that it may assist the researcher in directing their knowledge of the previous work and in developing hypotheses that can be linked with the previous study. In addition, the researcher may focus their attention on the individuals who are able to provide genuine information that will contribute to the achievement of the dissertation.
The secondary method was used by the researcher. The secondary data collection was carried out via the use of secondary research, in which the researcher looked through previously published material that was accessible in academic publications and papers (Rinjit, 2020). The gathering of data from secondary sources was carried out with the expectation that the information collected from secondary sources, which are known to be accurate and trustworthy, would be of assistance in completing the picture painted by the primary sources' contributions. This would help prove the validity of the results and conclusions drawn from the current study in a significant manner (Mishra and Alok, 2022). The PRISMA method was used.
Figure 2: PRISMA Table
A check of a database revealed that the researcher discovered 309 documents that were connected to the research topic. In addition to this, the researcher located ten more documents coming from various other sources. As a result, there were a total of 319 recordings chosen. All instances of duplicate records included within these records were eradicated. There were 200 records that were identical to one another. Because of this, the researcher was only able to access 119 entries. Following this, these 119 data were reviewed, and it was discovered that 100 of these records did not include the full-text articles but instead contained just the abstracts. After removing these 100 records, the study was reduced to include just 19 publications. From these 19 articles, we eliminated the ones that were published years before 2018. In the end, the researcher was only left with five publications to base the study on while collecting secondary data and carrying out the investigation.
3.6 Data Analysis Method
The process of analysing the data determines the means by which the gathered information may be evaluated and presented in such a manner that it can validate the aims and hypotheses that have been established. The qualitative method, the quantitative method or the hybrid technique will make up the data analysis method. In this research, the researcher has utilised the thematic analysis where the objectives have been broken down into themes and then analysis has been made on the gained literature.
3.7 Ethical Considerations
In order to do research in an ethical way, one must first acquire a grasp of the laws and regulations that are related to the study. This must be done in order to finish the research. When doing the secondary research, it was imperative that all of the information gathered come from trustworthy sources. The authors of each of the sources that were used to obtain information were appropriately credited in this work. Additionally, it was assured that the study article that was published was the researcher's own original work, which was free of any instances of plagiarism (Newman and Gough, 2020). The findings from the primary study were mostly utilised, together with the information gathered from secondary sources, to either validate those findings or to highlight any discrepancies that were found between the two sets of findings. As a result, the data gathered from secondary sources were used only for the goal of providing inspiration, and there was absolutely no kind of plagiarism involved (Rinjit, 2020).
The dependability of the findings was taken into consideration throughout the course of the research's execution. The term "research reliability" refers to the degree to which the procedures that were followed in the course of the study were able to provide the same findings each and every time (Andrade, 2018). It is possible to say that the research methods are trustworthy and are not influenced or affected by external factors because they are consistent and can produce the same results when employed multiple times. This is because the research methods used in the present study produced the same results when they were employed multiple times (Phillips et al. 2021). One of the ways that the dependability of the study techniques was assured was by continually applying the same procedures to various groups of individuals over the course of a certain amount of time. This was done over a period of time. According to Sürücü and MASLAKI (2020), this method of determining dependability is known as the test-retest evaluation.
When people speak of the validity of research, we are referring to the amount to which the research methodologies are able to measure what it is that they are intended to measure. To put it another way, it is an evaluation of how accurately the study procedures and tools assess the appropriate things (Unsworth et al. 2021). Internal validity and external validity are the two categories that may be used to classify different kinds of research validity. The term "internal validity" refers to the degree to which the conclusions of the study are congruent with the actual conditions that exist in the real world (Andrade, 2018). On the other hand, the term "external validity" refers to the degree to which the findings of the study are relevant to a variety of settings or are capable of being duplicated in those settings (Phillips et al. 2021).
3.10 Research limitations
The study that had been done had been carried out effectively since every approach had been aligned with the description of how the method was justified. Despite this, there were a few obstacles that needed to be overcome before the study could successfully gather data and use it in its findings. Collecting the secondary data was also a challenge for us, particularly due to the fact that we chose a novel subject to investigate. Because of these obstacles, the researcher had a tough time getting started on the task of completing the investigation within the allotted amount of time. As a consequence, this is considered to be another weakness of the research related to the study.
3.11 Gantt Chart
This chapter is essential in assisting with the comprehension of the data gathering technique that is going to be used. In this manner, one of the significant applications that are to be made is the justification of the procedures that have been carried out. This is one of the key applications that are to be made. As a result of this, it is essential that the chapter contributes to the development of a broad comprehension of the domains that may be used for the analysis as well as the collecting of the data that is necessary for the achievement of success. In the next chapter, an interpretation of the data that has been gathered will be presented in order to facilitate alignment with the literature review that has been gathered.
CHAPTER 4: DATA ANALYSIS AND FINDINGS
4.1 Thematic Analysis
4.2.1 Significance of culture for MNCs
People's reactions to business and how they feel about being on time are examples of how people's attitudes regarding time might be described. Communication, the speed with which they responded to deadlines, and the length of time they waited around for appointments were all issues (Gabel-Shemueli et al. 2019). For example, Americans have a reputation for being prompt, and the expression "time is money" well encapsulates their mentality in this regard throughout the course of time. People who live in other nations, on the other hand, could have a more relaxed attitude about time.
Analogically, Multinational corporations that have operations in a number of countries should take into account the diverse cultural attitudes towards time. People have varying attitudes about their jobs and their free time for a variety of reasons. People in certain nations put in far more hours of labour than is required to fulfil their most fundamental needs to do with living (Duan et al. 2020). This mindset is illustrative of their perspectives on money and material advantages. The presence of cultural differences in people's overall attitudes about their jobs is connected to the fact that people's drive to accomplish their goals. Multinational corporations should be prepared for various attitudes about change transition between many distinct nations.
They need to take into account a number of significant aspects of cultural norms, such as what characteristics of a culture are resistant to change, the ways in which the process of change unfolds in various foreign nations, the ways in which the areas of resistance that each of them faces are unique, as is the amount of time required to accomplish the same change (Swoboda & Batton, 2019). The weight that a nation places on a certain line of work is a crucial factor in determining both the quantity and the quality of individuals who are interested in entering that profession. Multinational corporations will have available to them individuals holding jobs that, in certain nations, are regarded as among the most honourable professions greater number of local experts and professionals.
The impact of a country's culture on the daily operations of a multinational corporation is both substantial and pervasive. Companies that operate on a global scale are simultaneously influenced by more than one culture. This means their subsidiaries are based in the travel to many places, and as a result, they experience many diverse national cultures (Yoo & Lee, 2019). Because of this, one particular global corporation creates its corporate culture by taking into account the various cultural norms that prevail in the countries in which it does business. As a result, it is of the utmost importance for multinational corporations to adjust their methods of manufacturing, marketing, and sales activities that are determined by the culture of the nation in question.
Many difficulties are brought about for us as a result of the wide variety of languages spoken in different nations outside the United States international corporations. In spite of the fact that there is a growing trend toward embracing English as the worldwide business language, businesses are conscious that it also incites opposition from the natives in many of the nations in which they operate (Masovic, 2018). The nonverbal aspects of language add another layer of difficulty to the already challenging task of business communication. Nonverbal Communication presents challenges for global corporations as a result of the many interpretations accorded to its constituent parts throughout the world.
Nonvocal components of speech, such as eye contact, facial expressions, gestures, and so on, and vocal components of speech, such as words timbre, loudness, and speaking pace, among other aspects. When looking at things from the point of view of a global corporation, it is very important to have a solid understanding of the local language (Gabel-Shemueli et al. 2019). The lack of familiarity with the local language has a negative impact on the performance of the company's overseas subsidiaries' management of their company. Appointing expatriates to key executive positions is one strategy for minimising the impact of language barriers. Nationals who have a strong command of the parent company's language and are qualified for employment in the local subsidiary business culture.
The most typical issue is that a significant section of the parent company's workforce has either restricted or nonexistent possessing knowledge of the local language, which helps to cut down the amount of time spent on parent-subsidiary communication (Duan et al. 2020). Staff members of the subsidiary who are fluent in the language of the parent company or translators. As a consequence of this, the amount of information that the workforce of the parent firm gets and processes has been greatly reduced. This issue increases to a large degree if those working in the area are fluent in more than one language.
The existence of more than one of anything. The variety of people who live in a nation may often be gleaned from its linguistic landscape. There are various nations in Europe, such as German, which employs a high number of migrant workers, which increases the likelihood of encountering linguistic challenges due to the country's linguistic diversity (Swoboda & Batton, 2019). For example, a significant number of businesses in Germany make use of guest workers hailing from Spain and Turkey. Consequently, German, Turkish, and Spanish are the languages spoken during regular meetings with the workforce.
4.2.2 Meaning of Cultural Differences in MNCs
Multinational organisations are the outcome of economic structures that adapt to the global economy. In addition to this, the cost of labour is significantly reduced, and the quality of services and products that are produced is superior. Multinational corporations are structures that are multicultural, which on the other hand, necessitates a distinct management philosophy due to the difficulties that might and often do come from cultural differences (Vaara et al. 2021). Keeping this in mind, being multicultural involves having a good attitude and being open to the beneficial impacts of interacting with people of various cultures, which results in the development of major new ways of interacting with one another.
The most significant component of being multicultural is having a favourable impression of the cultural variation that may bring good revenue to the company. This can be accomplished by exposing oneself to as many other cultures as possible (Cheng et al. 2022). Multinational corporations are present in practically every industry, and because of this, they demand management and personnel that come from a variety of cultural backgrounds organisations (Abugre & Debrah, 2019). Because they employ individuals who come from a variety of cultural backgrounds and religious perspectives, these firms need not just to manage production in the conventional sense, but they also need to really manage the disparities amongst their employees.
However, investment partnerships with other nations enable multinational corporations to function either independently or in cooperation with foreign countries. This, in turn, unavoidably brings about the manifestation of the cultural differences that exist between the countries. The actions of multinational corporations are distinct from those of local corporations due to the fact that multinational corporations employ workers and managers from a diverse range of countries, each of which comes from a unique cultural background (Karjalainen, 2020). As a result of globalisation, a significant number of corporations now have commercial interests in more than one nation. Both outsourcing and offshoring are now standard business practices, and as a result, managers are required to establish processes and procedures that may be suitably used in a variety of locations.
In any case, effectively transplanting management approaches utilised in one nation to another country poses obstacles due to variations in the business processes, communication styles, and cultural values that are prevalent in the two countries. Cletus et al. (2018) highlight the need to understand the cultural environment in which management activity is evaluated as either successful or inefficient. Cletus et al. (2018)present a set of intercultural competencies that are applicable to all managers functioning in a global setting. Companies that operate on a global scale are required to recognise and accept the fact that their managers must at all times take into consideration the impact of cultural variations on the techniques they use.
In a multinational company where cultural differences are not taken seriously or managed effectively, this can result in a toxic organisational climate and culture. On the other hand, in multinational companies where cultural differences are recognised as important and managed effectively, this can result in a culture that values synergy (Vaara et al. 2021). To put it another way, cultural synergy refers to the process of bringing together all of a group's distinctive characteristics with the intention of producing an efficient system.
In order to arrange the impacts of all of these cultural differences to generate synergy, it is vital to first develop cultural synergy. This will allow you to create synergy by combining the effects of different cultures. Knowledge of a culture entails not only comprehension and awareness of the cultural makeup of each person but also an appreciation of the cultural makeup of a certain group (Cheng et al. 2022). In addition to this, it is a very significant component of interaction across different cultures and helps individuals to function well in environments characterised by several cultures. Intercultural competence is primarily concerned with the ability to negotiate cultural differences by means of successful communication, effective awareness, and interaction.
The capacity to negotiate cultural views, meanings, attitudes, and values in order to have successful communication behaviours is what we mean when we talk about intercultural competence. This skill may belong to either a person or a community. Additionally, it facilitates efficient functioning despite cultural differences, which is when people comprehend their numerous identities in a multicultural setting (Abugre & Debrah, 2019). This is made possible by cultural competency. Persons who are able to communicate in an intercultural way are able to manage their interactions with people who reflect divergent or distinct emotional, cognitive, and behavioural orientations.
4.2.3 Cultural differences in MNCs and how they manage
Multinational corporations have the additional responsibility of striking a balance between respecting all of the world's cultures and ensuring that their staff in every office are working together toward a single goal (Rodríguez-Rivero et al. 2022). Developing a sense of community throughout all of the offices is one strategy for accomplishing this goal. A daily email or a blog that is company-wide might be used to highlight achievements and deliver news from all of the offices. Tools for online cooperation or groups on social media sites may help bring personnel of different cultural backgrounds to a single goal.
To be agile enough to compete across cultural boundaries, small multinational enterprises with headquarters in the United States need to alter the culture of their own organisation. Taking up a culture of constant learning is one approach (Noyan, 2018). The training might consist of lectures on the cultural differences across nations, as well as incentives to encourage staff to go to the countries in which the company has operations. The use of a multinational staff at the headquarters helps everyone become more aware of the existence of cultural differences.
Consumers' views and behaviours are significantly impacted by culture to a large degree. When a company expands into a new market, the business models that it uses should be modified so that they take into consideration the norms, customs, and preferences of the new market. For example, modifications need to be made to the product and service offerings, as well as to the pricing methods and marketing approaches (Hart et al. 2019). If the local culture does not drive the notions of business, then there is a larger risk of failure for international companies. If your business attempts to break into a new market and is unsuccessful, the associated costs might be quite high. It takes international merchants, on average, seven years of operating at a loss before they either give up or sell their company to a competitor operating in the local market.
When doing business on a global scale, using the philosophy that "one size fits all" is an ineffective strategy. It is impossible to achieve success on the world stage without adopting a global mindset. The interface that occurs between "globalisation" and "localization" is referred to as "glocalization," and the word was coined to characterise this interaction. Globalization, on the other hand, puts a focus on standardising international practises, products, and services, whereas localization places an emphasis on adjusting processes and item offerings to fulfil the individual requirements of local industries (Gutiérrez et al. 2021). Localization, on the other hand, comprises procedures and product offerings that are adjusted to satisfy the individual needs of local markets. The term "glocalization" refers to a hybrid approach that brings together the ideas of standardisation and adaptability. The term "glocalization" refers to the process of combining aspects of a local culture with aspects of a global culture, such as ideas, products, or procedures. The concept of glocalization is based on the recognition that the potential for economic synergy is hindered by deeply ingrained cultural institutions that are difficult to change.
There is a chance that cultural divides inside a country are just as substantial as those that exist between countries. There is substantial geographical heterogeneity within developing markets, both in terms of the tastes of consumers and the circumstances of the market. On the other hand, distinctions seen inside a nation are typically ignored (Lim, 2020). According to the findings of four-fifths of the world's largest multinational corporations, decisions about their offshore operations are made at the country level rather than the city level. There are many different elements that might lead to the development of a subculture; location and ethnic origin are only two of them. Consider, for example, the different consumer profiles that men and women in the United States have in relation to one another in terms of the products and services they purchase.
Even though women are responsible for 88% of all retail sales, marketing activities often neglect the ways wherein male and female consumers behave and consider differently. This is despite the fact that women are responsible for 88% of all retail transactions. In addition, the buying behaviours and preferences of female customers vary depending on factors such as generation, ethnicity, and professional sector (Rodrguez-Rivero et al. 2022). Companies run the risk of alienating a sizeable percentage of their clientele if they fail to recognise the cultural diversity that exists within the marketplaces in which they operate. According to the findings of certain studies on mergers and acquisitions, the social integration process is far more difficult in domestic settings than in international ones. This is due to the widespread misconception that cultural barriers are of little significance within the context of a country, which in turn serves to amplify the impact of such barriers.
4.2.4 Role of cultural differences in Global Marketing Strategies
When one is engaged in the business of selling goods or services across international boundaries, one must pay primary attention to the cultural differences that are present in marketing. This is due to the fact that the cultural atmosphere in each nation is quite different from that of the others. This suggests that in order to exhibit an awareness of the culture of a given state, multinational firms first need to display an understanding of the culture of the state in which they want to market their products (Paul, 2019). Before a corporation begins on a push to compete on a global scale, careful consideration need to be paid to the major cultural characteristics that are outlined in the following sentence. Before beginning to promote their products and services in a foreign country, companies need to be aware of the substantial cultural differences that exist in the industry of marketing. The language barrier is one of the major of these differences.
In the past, translation projects have been marred by catastrophic errors, which have had far-reaching repercussions (Fan et al. 2018). One of the most memorable and embarrassing mistakes that occurred in international marketing occurred when General Motors was marketing its cars under the brand name "Nova," which, when translated into the local languages of South America, meant it wouldn't go (Fan et al. 2018). This was one of the most memorable and embarrassing mistakes that occurred in international marketing. It should come as no surprise that these errors do not assist the corporation in selling its goods. Therefore, in order to prevent the risk of their company failing, organisations need to pay attention to language and translations. Pricing tactics may seem to be economic considerations; nevertheless, they really reflect significant cultural variations that are relevant to marketing (Yousaf & Xiucheng, 2018).
Age and other demographic factors have a big role in the cultural distinctions that exist inside marketing, just as they do within domestic marketing. For instance, in underdeveloped nations, the percentage of older individuals who can read and write, particularly those over the age of 60, is quite low (Paley, 2021). As a result, you could make the decision to steer your marketing message in a direction that is not directly targeting this demographic group, particularly when you are selling digital gadgets. In addition, before you can adjust your marketing messaging, you need to have a solid understanding of the demographic groupings that predominate in the nation in question (De Mooij, 2021). Instead of appealing and communicating to the minority, this will assist your nation appeal and communicating to the majority.
Chapter 5: Conclusion and Recommendations
One of the most significant changes in the business world over the last several decades has been the proliferation of multinational corporations. It is common knowledge that these companies are enormous, with both the people and sufficient financial resources to compete with the Gross National Products of some of the less developed nations with a sophisticated economies. Rao-Nicholson and Khan (2017)found that transnational corporations in the consumer products industry businesses in every sector do exist that concentrate a disproportionate amount of their resources on marketing and other more persuading marketing techniques than non-international businesses.
In most cases, the marketing of consumer products is the primary focus of the businesses that are physically present in any given location. Consumers and governments, in equal measure, are accountable for the product regardless of the circumstances, with reference to the firm being connected with the brand and everything connected to or relating to it. It is believed that a global company is culturally tied if it focuses on the needs of its customers (Caas-Bajo and Silvennoinen, 2017). This is true to a large measure due to the fact that customers of such things are members of certain cultural groups and tendencies regardless of the phases of life in which they find themselves. This elucidates why in recent years, marketers have begun to pay more attention to the role that cultural factors play in their actions.
Although the satisfaction of groups of people is the driving force behind the development of any civilisation, they indicate a very varied and broad range of expectations that society has of its individual members. They are intended to fulfil not just bodily needs but also those of esteem and camaraderie needs. It seems to reason, given the diversity of requirements and possibilities for marketing (Cropanzano et al., 2017). Researchers in marketing agree that having a good grasp of the culture of a population is essential for both academics and working professionals. They must have an understanding of culture since it is the source of everything acceptable target goals that are particular for any universal human demand.
According to the companies' reports, cultural differences have a wide range of effects on marketing methods that are used by multinational corporations, which require the utilisation of various strategies in accordance with certain circumstances and impacts (Feng et al. 2019). The companies also claimed that marketing tactics were used in order to purposefully beat the competition in order to get greater market shares and increased sales, as well as to withstand the test of time regarding the ever-shifting patterns and how they impacted the demand and the supply.
Some of the many approaches involved the utilisation of high-quality items, regular advertising in regional media outlets, the development of optimal price structures, incentive sales promotions, and the development of brand-new products. In the end, every company implemented some effective countermeasures to offset the cultural effects that were impacting its operations. Companies that do business in two or more countries simultaneously and derive at least part of their earnings from those operations are considered multinational corporations operations overseas, as well as ownership of certain assets located in other nations (Guzman et al. 2018).
These are considered to be supranational economic and technological entities that were formed out of the free movement of capital, products, and services in tandem with the advancements in those areas in terms of means of communication and transportation infrastructure (Rao-Nicholson and Khan, 2017). These are also businesses that call for management in addition to the management of producing sources in the conventional sense, but also, owing to the employment of individuals from a variety of cultural backgrounds and beliefs, as well as the navigating of these distinctions.
Companies are able to, because of the common investment relationships they have with several nations, work both alone and in collaboration with other nations, making the management of cultural differences more complicated and inevitable (Song et al. 2018). The type of ownership has a different role in the operations of global corporations compared to that of local businesses regarding the ethnicities of those in managerial positions.
In addition to having employees that come from a variety of cultural backgrounds, the multicultural workforce profile at international companies necessitates the harmonisation of the expectations of these workers and the company as a whole criterion set by the firm, which inevitably results in the need to handle cultural variances (Felipe et al. 2017). The difference may be thought of as any other attribute that a person employs in order to differentiate themselves from other people. People may be distinguished from one another based on a number of factors, including their race, culture, gender, age, sexual orientation physical adequacies'. Some definitions of difference take into account additional factors, such as a person's ethnicity, nationality, or social status, religion, modes of education and communication, location of birth, and occupational choice are some examples.
The management of cultural diversity requires an understanding that each culture's ideas, attitudes, behaviours, and modes of expression are unique. Understanding how to navigate these disparities would be essential management ability for CEOs working at international companies. One of the most pressing concerns facing managers in the management of workers from multinational corporations that are now present in practically all areas of the economy is consequently referred to as globalisation.
5.2 Linking with Objectives
Objective 1: to evaluate the significance of culture for MNCs
This objective of the researcher has been linked with the second chapter of the research, which is the literature review. The globalisation of today's economic systems has given rise to a new kind of business organisation: the multinational corporation adjusting to the conditions of the global economy. Multinational corporations, in order to maintain their position as market leaders in the world economy, prefer to create goods and services in other nations rather than exporting their products to such countries, rather than doing the opposite. This is the foundation for it the reality of transnational corporations.
Objective 2: to analyse the meaning of cultural differences in MNCs
This objective of the researcher has been linked with the fourth chapter of the research, which is data analysis. The concept of cultural difference refers to a framework that occurs when individuals belonging to several group identities coexist inside the same social structure (Tereza and Fleury, 1999). The first step in managing cultural differences is to develop an atmosphere that is accommodating to personnel from a variety of backgrounds to make the most of their capabilities while also directing and managing these disparities in a way that is consistent with the organisation's aims. In other words, it refers to the practice of guiding and controlling the attitudes and behaviours of workers from a variety of different organisations' cultures that are congruent with the objectives of the organisation.
Objective 3: To evaluate the cultural differences in MNCs and how they manage those
This objective of the researcher has been linked with the second chapter of the research, which is the literature review. Multinational corporations are distinct from other types of businesses due to the fact that they are present in practically all economic activity areas in the sense that they need the management of workers from a variety of cultural backgrounds. The responsibility for personnel, including managers, specialists, and employees, who are accountable for the administration of a multinational corporation's offshore assets to several nations on the one hand, with various cultural, legal, and political systems; and on the other, with their ties with the personnel working in the host nation on the other, making it vital for these organisations to handle the cultural disparities that exist among its members (Dereli, 2005).
Objective 4: to identify the role of cultural differences in Global Marketing Strategies
This objective of the researcher has been linked with the fourth chapter of the research, which is data analysis. It refers to the practice of capitalising on cultural differences in order to gain competitive advantage rather than destroying them via organisational processes. They should be supporting them through the management and organisational settings. This encompasses all of the organisational and management tasks that are associated with having a feeling of leadership in a global setting. The construction of multicultural teams, as well as a multicultural structure that is reflective of all of these teams, should be accomplished.
5.3 Limitations of the study
There are various issues that were faced by the researcher while doing this research. Firstly, the researcher had to face issues in gathering data for the research. Since most secondary sources had to be paid for access, it became an issue for them. Being a student, it was not possible to pay for the data. The researcher also had time issues since he was given a specific period within which the dissertation had to be completed. The researcher had to maintain the authenticity of the research. The researcher had to ensure that the data were safe so that they were not revealed before publication.
5.4 Future scope of the study
This research can be used by other researchers in the future. The data that had been analysed in the data analysis chapter can be used by other researchers so that they can use it as a secondary source. This will help them in doing their research effectively based on the same topic. This research can also be used by different MNCs as well as SMEs so that they can opt for an effective marketing strategy so that customers from different cultures can be attracted and retained within the organisation. Through this, the sales of the company would increase, along with gaining loyal and satisfied customers.
? When selling products or services in international markets, it is essential to take into account significant cultural variations, including religious views. They have an impact on how people in a specific culture think about a variety of goods and services. It is necessary for organisations to get an understanding of the influence of religion and the part it plays in society (Luo and Shenkar, 2017). For example, in Muslim nations, promoting secular women’s clothing can be prohibited since the religion in these countries mandates women to wear in a modest fashion, which is heavily controlled. In addition, some marketing campaigns have been at odds with religious organisations since it was believed that the messages were insulting to a certain faith. This has led to a conflict between the two. Before beginning to sell their wares on a global scale, businesses must first acquire an understanding of religion, which is a highly important but often overlooked facet of global business.
? Eating habits are additional crucial cultural distinctions in marketing that international organisations need to grasp. Before promoting its menu, a firm that sells food should make it a priority to have an understanding of the eating customs of the area in which it operates (Hennart, 2019). In India, for instance, McDonald's and other fast-food chains were forced to switch from selling meat goods to selling veggie products because of local regulations. In a similar vein, these businesses have begun to progressively cater to the preferences of people from other countries, such as rice meals for the Asian market.
? Companies are already aware, as a marketer, that the personalities and cultures of people in a given nation or area combine to form the purchasing habits of those individuals in that nation or region. They need to find out if people in a certain nation make individualistic or communal purchasing choices before they can promote their items there (Payne et al. 2018). They will be able to use this information to build a marketing plan that draws in the whole society or a strategy that appeals to certain personalities. They are also expected to have a solid understanding of the psychological and cultural forces that play a role in consumers' purchasing choices.
? Not only are there distinctions in terms of ethnic and national identities, but there are also variances in terms of values, heritage, and cultural standards amongst the various socioeconomic and generational groups (Gherasim and Gherasim, 2018). This is an example of cultural diversity. In order to account for variances in the provision of values depending on the services and goods, which might be lost in translation, marketers need to modify their message.
? Companies in this day and age are truly investigating the cultural differences and taking serious consideration of these diversities in order to target the demographic and geographic groups that are different. The actual essence of comprehending the groups is having solid information about them and continuing to build on that knowledge (Steenkamp, 2019). As a result, it assists in the development of marketing plans and ensures their smooth execution inside businesses, resulting in skyrocketing profits and widespread approval. In order to sell their wares outside of conventions, the organisations need to make demographic and cultural assumptions about the customers they are targeting.
? Distinctions in ideas and cultures have an effect on consumers all over the world; as a result, marketers need to comprehend these differences in order to formulate more effective strategies (Paurova et al. 2019). Understanding culture requires having a solid grasp of a variety of topics, one of which is familiarity with the target demographic of cultural productions. When developing marketing campaigns, a concentration and emphasis on the particulars of the process are equally vital; as a result, this aspect is given consideration for improved management.
? In addition to that, it consists of branding, slogans, and labelling that are tailored to the requirements of certain audiences. In addition, the perspective of the consumer is also an essential component that plays a significant role in the organisation and places emphasis on the subtle shifts brought about by the diversity of its demographics (Caas-Bajo and Silvennoinen, 2017). Communication is yet another essential aspect that has to be taken into consideration so that businesses may provide better services to their clients.
? Customers' tastes and requirements may be comprehended when there is clear communication between the parties. It contributes to the process of culturally bridging the gap between different communities and organisations. It also helps serve certain demographic persons' throughout the nations and it helps provide consumers with goods and services that are tailored to their needs in accordance with their preferences. (Elsbach and Stigliani, 2018) When marketers comprehend and have an understanding of a wide variety of cultures, it is much simpler for them to design and sketch out tactics in accordance with the requirements.
? The marketing tactics of the company are determined by the values of the society, and the people are required to exercise a great deal of consideration while making judgments of this kind. When developing marketing strategies, it is important to tailor advertising to a wide variety of demographic groups in order to accurately represent cultural distinctions in the target audience (Tan and Sousa, 2018). When formulating strategies to meet the specific requirements of individuals, marketers need to have a solid comprehension of the cultural distinctions that exist, in addition to having individualistic thoughts and perspectives. Branding, advertising, and campaigning need to be done in a way that is congruent with the local culture in order to achieve greater market penetration.
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