Marketing Essay Example | Topics and Well Written Essays - 1500 words - 29

Marketing - Essay ExampleChinese culture is an apt example of a high-context culture. Business meetings in China revolve around convention choices and the agreed upon decisions are mostly finalized in advance, courtesy the instinctive and listener responsible approach of group members (Browaeys & Price, 2008).The low-context cultures tend to be direct with the meaning built-in in any communication (Mead, 2004). They cherish individualism and are not very proficient in the non-verbal exchange of meaning and information (Mead, 2004). Low-context individuals predominantly cuss on logic then on emotion to convey ideas (Mead, 2004). The communication patterns in low-context cultures are very structured with a preference for strategies that are copious in details (Mead, 2004). Low-context cultures value linear logic (Mead, 2004). US is a low-context culture where communications are direct and individualistic that are more targeted at specific situations and outcomes, rather than intend ing to communicate with the entire group (Browaeys & Price, 2008).Factor Analysis Factor analysis tends to statistically determine variability amongst the observed variables, in similitude to a small number of unobserved variables (Lehmann, Gupta & Steckel, 1997). Factor analysis can be suitably used in a situation when the selective information to be analyzed is quiet large (Lehmann, Gupta & Steckel, 1997).Cluster Analysis Cluster analysis is ideally suitable for analyzing data having some natural groupings (Lehmann, Gupta & Steckel, 1997). It helps group raw data into clusters. This type of analysis helps determine similarities and variations between local and regional markets.Multidimensional Scaling Multidimensional scaling is a statistical technique, which facilitates information visualization, thereby allowing for the winnowing of similar and dissimilar patterns in a data (Grover & Vriens, 2006). This technique could be exploited, when a marketer is required to select betwee n varied alternatives.