Fluent Essays

write minimum 5 full pages SINGLE-SPACED (this is about 3000 words)This is a case study essay of a company Victorias Secret. The format will be introduction-analysis-alternatives-recommendation. I only need introduction and analysis. Please feel free to use any resourseBackground Information:Talk about history of VS a little bitExplain VS struggles in the American market, and attempts for expansion in China.Discuss market performance in North America (Compare the Chinese, American and European markets)The most important concerns when entering into a new market (NA and China) as a European brand.The possible backlash the company may face in the Chinese market as they are a very conservative culture. (The cultural universals. Please incorporate with concepts from the file)2. Situational Analysis:SWOT (Strengths, Weaknesses, Opportunities, Threats)PEST (political, environmental, sociocal, technological) > of ChinaMichael Porter 5 Forces (in relation to entering the Chinese market for lingerie?)Threats of entrantsThreats of rivalsSubstitutesPower of buyersPower of suppliersIs VS a socially responsible company?VS differential advantage (refer the file.)A differential advantage is some unique advantage a firm has over its competitors in a given market. chapter_3__.docx Unformatted Attachment Preview 3.1 Explain the meaning of ‘cultural universals’. Do these provide universal guides to behaviour in all societies? How can the international marketer use these universals? Do values fit within cultural universals? Explain. Cultural universals are factors that are found in all cultures, such as the presence in all cultures of food taboos. However, they do not give us universal guides to behaviour in all societies. Some societies proscribe the eating of pork, others the eating of beef, others both pork and beef and others neither pork nor beef. The cultural universals simply give us a list of elements about which every society has some restrictions or conventions, but do not tell us what those specific conventions or prohibitions are. The international marketer can use the list(s) of cultural universals as checklists of what factors should be looked at in each international market. The marketer then needs to determine which of these factors should be adjusted for. 3.2 Do you agree that the international marketer does not need to study a culture from a narrow perspective but rather needs only a broad perspective to learn about general patterns and themes? Explain your answer. The export marketer needs to know the details of how values, attitudes, preferences and laws relate specifically to product and marketing requirements for the target group in the society. A broad perspective on the culture is very useful in providing a framework for understanding the market, knowing what to look for in the way of requirements and suggesting which products and approaches may be effective. But a broad perspective by itself is not sufficient to avoid problems and pitfalls. 3.3 Explain the meaning of the following statement: ‘Managing multiculturalism within the international marketing organisation and within and among the markets its serves is what makes international marketing exciting and frustrating’. This statement is designed to call attention to the human environment and the diversity in human beings. Characteristics such as language, religion, values, attitudes and social organisations vary across national markets and even within a national market. Although the primary impact may be the market and consumers/customers within the market, consideration must also be given for the people within the international marketing organisation. Not only is exporting of relevance, but other modes of entry such as investment, licensing and joint ventures are affected as well. So-called excitement and frustration may arise also from consumption patterns of people, their political ideologies, nationalistic feelings and application of the selfreference criterion. Statements about what is exciting and what is frustrating will vary among students. 3.4 What is the ‘silent language’ of international marketing and how does it relate to the concept of ‘culture is communication’? Spoken and written language is obviously an important means of communication. But people also communicate through their behaviour in how close they stand, when they look directly into another’s eyes or avert their gaze, posture, gestures, etc. The same behaviour may mean two different things to people from two different groups. The silent language is non-verbal communication. The relationship between culture and communication is discussed in the section on ‘Culture and communication’ in text. 3.5 What is the self-reference criterion and how should the international marketer apply it? Explain. Using the self-reference criterion, the marketer defines problems in terms of his/her own society’s cultural traits, habits or norms. What he/she needs to do is redefine problems in terms of the foreign cultural traits, habits and norms in order to see the likely effects of cultural bias and how this bias can be overcome. 3.6 Various classification schemes are sometimes used to give an indication of the potential of a particular foreign market/country. Explain why these schemes should or should not be used as a basis for deciding what markets to enter. The various classification schemes may be used to provide a rough initial estimate of potential for sales of your products or services based on size, GNIs, income distribution, cultural similarities, etc. But the decision about whether to actually enter a specific market must be based on a comprehensive analysis including tastes, cultural values and their effects on the potential for sales of your specific products, competition, marketing channels (and also governmental, political and legal requirements as discussed in Chapter 4) – in effect all of the factors discussed in this book. 3.7 What is really meant by a company having a differential advantage over its competitors in one or more foreign markets? A differential advantage is some unique advantage a firm has over its competitors in a given market. This may be a trademark, a marketing organisation or distributing network, product characteristics, lower costs, higher quality or any other unique characteristics that real or potential competitors cannot duplicate at the present time. 3.8 Select a culture with which you have had contact. How does it differ from your own culture? How might these differences affect international marketing activities, business negotiations or ongoing business relationships? Explain! Student answers will vary depending upon the countries the student compares. The text provides enough information about China and Japan in Chapters 1, 2 and 3 to allow a student to compare his/her own country to one of these. ... Purchase answer to see full attachment