Individual Project Essay Example | Topics and Well Written Essays - 3000 words

Individual Project - Essay ExampleIt is due to the reason that the values and choices of different cultures argon extensively unpar wholeel and a single product or profit with it common features are somewhat inefficient to satisfy the needs of these ethnic separates. For instance, the failure of Walt Disneys marketing strategy adapted especially focussing on the Eastern Region comprising of Mainland China and Hong Kong was due to the conjunctions misinterpretations of the cultural diversities of these two economies. To be included, both the cultures enjoy vacations for two-three days during the Lunar New family which was categorised as the special days by the company. In this case, the company issued large number of give nonice tickets to both the ethnic groups in 2006. This incidentally increased the number of eligible customers to an measuring rod which was uncontrollable by the company and therefore headed to a dramatic failure of the companys marketing scheme (Bradsher, 2006). away from Walt-Disney, there are numerous companies operating in the multicultural market which have faced miscellaneous issue related to the concept of multicultural marketing. ... Critical Issues Faced by Managers Evidences reveal that marketing is not the same as it was according to the traditional notions. Today, marketing has acquiren to be much wider and complex in its realistic practices accumulating numerous variables ranging from the customers income level to their needs and their cultures as well. It is due to the fact, that marketing at present is all about serving the customers according to their needs and choices in order to gain a certain amount of profit and achieve the optimum organisational goal. Therefore, it is quite essential for a marketer to know the targeted market, i.e. its cultural perceptions on with the economic values. It is in this context that managers, as marketers and leaders of an organisation face certain major issues eon executing their marketing strategies focussing on a multicultural paradigm (Trompenaars & Woolliams, 2004). Ethical Issues Ethical challenges are one of the major issues faced by the managers in order to serve their ultimate customer group in a multicultural market. There are various influencing doers affecting the strategic philanthropy of multicultural marketing active in the given business environment of an organisation. Notably, worldwideisation is one such factor influencing the strategic decisions of marketers in virtue of multicultural dimensions. For instance, the total amount of world trade was record booked to grow more than six times from 1950 to 2000. As a result, the annual outflow of FDI increased to a record height of $1.3 trillion in the year 2000. This certain fact depicts the expansion of business in global terms and its long-lasting affect on the