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

Marketing - Essay Example Chinese culture is an apt example of a high-context culture. Business meetings in China revolve around group 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 inherent 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 rely 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 rich 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 intending to communicate with the entire group (Browaeys & Price, 2008). Factor Analysis: Factor analysis tends to statistically determine variability amongst the observed variables, in relation to a small number of unobserved variables (Lehmann, Gupta & Steckel, 1997). Factor analysis can be suitably used in a situation when the data 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 sifting of similar and dissimilar patterns in a data (Grover & Vriens, 2006). This technique could be exploited, when a marketer is required to select between varied alternatives.