How has the importance of global marketing changed in the last decade and which changes can be expected due to the current situation? Reflect on at least five theories/models and bring at least five practical examples (pay attention to correct citation). Highlight each theory/example (around 700 words)
High and Low context cultures
Hofstede’s Five Dimensions of Natural Culture
o Individualistic-People look after their own and family interests Collectivistic-People expect the group to look after and protect them
o High power distance-Accepts wide differences in power; great deal of respect for those in authority Low power distance-Plays down inequalities; employees are not afraid to approach nor are they in awe of the boss
o High uncertainty avoidance-Threatened with ambiguity and experience high levels of anxiety Low uncertainty avoidance-Comfortable with risks; tolerant of different behavior and opinions
o Achievement-Values such as assertiveness, acquiring money and goods, and competition prevail Nurturing-Values such as relationships and concern for others prevail
o Long-term orientation-People look to the future and value thrift and persistence Short-term orientation-People value tradition and the past
Diffusion theory
Political Environment
