Marketing essay on: Preferences and tastes of people in company

In order to set up a business in a different country is a major challenge especially for those who have not done business in that part of the world ever. It requires extreme research to enter into the market of a different country as it very important to understand the political factors, the culture, the behavior and attitude of the people so that the product can be introduced keeping in mind the taste and preferences of the people of the country.A company needs to know the current status of market and the perspective of the people for the kind of products they will be selling. They would also have to have enough knowledge about their competitors, their pricing strategy and other business strategies so that they can enter the market accordingly. The culture of the people of that country plays an important role in deciding and designing a strategy to enter the market of that particular country. The country where the business is to be set up is Cape Breton in Canada. It is a part of the province Nova Scotia. The residents can be divided into five main cultural groups which are Scottish, Mi’kmaq, Acadian, Irish and English. The place is also a spot for tourism and a lot of people visit the place. Tourism has increased especially after the Second World War. This island is said to have two major coal deposits. It is also found that there are employment opportunities in cape Breton only in the fishing and tourism industry. This can work in the favor of the company as they will be able to generate employment for the people of the country. There are issues in the employment insurance systems and these have to be taken care of.

The effect of the culture of the people on their behavior was explained very well in the Hofstede Model by Geert Hofstede. The main aim is to understand the cross cultural psychology. It is very important to understand the cultural differences and then to design a strategy which will the best suitable strategy. This can be explained by a very simple example. The people in America especially the bride wears white color when she is getting married whereas in countries like India, the color white is worn when a woman loses her husband or if someone in the family dies. Thus it is important to understand the culture of the economy so that business can be set up in that country.

The people of the island are very fond of traditional music and they like to spend most of their time listening to the traditional music. The people over there love to dance and the island is a very colorful island. The environment is quite lively and the people there are very lively. Cape Breton is known to be the earliest center for industrial development. The island is governed in the presence of the Mayor and a smaller council. There are charters which are considered as the traditional sources for municipal government authority in Canada. There is a separate family division that handles all the family matters.The company should take advantage of the fact that the major employment in the island is due to fishing and tourism and they should probably set up their business with the initiative to generate employment in the country. This will be an aspect which may turn in favor of the company.

As per the Hofstede Model there are five factors that have an influence on the culture of the workplace.

Power Distance: this refers to the differences in the culture due to the power which is delegated to them. In some companies tem leaders are appointed and they are responsible for the work done by his team, while in other individuals are responsible for their own work.

Masculinity Vs Feminity: this refers to understand the differences in the male and the female sections of the society. It is important to understand whether in a country the woman is given the same importance as compared to the men. Also it is required to understand whether the women will be able to handle responsibilities and the amount of work which can be done by them.

Individualism: various organizations rely on team work and hence people who have the same interest come together and form a team and hence work on a project. There are many companies where however people tend to work individually and avoid working in teams.Uncertainty Avoidance Index: this is very important where the employees should be prepare and should know how they should respond or react under unforeseen circumstances. It explains the level of tolerance of the employees in situations where they are comfortable and where they are not.

Long term Orientation: some organizations believe in maintaining long term relationships with their employees, whereas some hire people only for a particular project and then the employees leave the company after the project is complete.

All these factors are extremely important to understand the work culture because this holds a very important part in setting up a business in a country. A company needs to know the current status of market and the perspective of the people for the kind of products they will be selling. They would also have to have enough knowledge about their competitors, their pricing strategy and other business strategies so that they can enter the market accordingly. The culture of the people of that country plays an important role in deciding and designing a strategy to enter the market of that particular country. Cape Breton is not that big a country and that is why the company can even analyze the minute details so that they are able to enter the market with full preparation. Also the company can decide whether they will introduce a new product or make changes in the present product. The people of the economy will have new opportunities if more and more businesses are set in the country. It is very important o maintain work culture as well as the society so that both things are kept in mind.

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