Influence Of Cross Cultural Differences on International Marketing

Abstract

The paper is premised on the influence of cross cultural differences (CCD) in foreign markets. International or foreign marketing is the trading of goods and services across national boundaries of nations. To achieve the set objectives questions were formulated in CCDs questionnaires and administered to 1200 selected firms /marketers in the seven continents of the world, via online interactive session and responses questionnaires. The two hypotheses formulated for the study were tested using the Pearson Product Moment Correlation Coefficient and the result shows that the knowledge of CCDs improves firm’s sales potentials in foreign markets and the self reference criterion (SRC) often impact negatively on most firms’ sales especially in foreign markets. Furthermore, the degree of involvement in foreign or international marketing by most companies/marketers varies widely based on their orientation and philosophy, such as ethnocentrism, polycentrism, regioncentrism and geocentrism. Consequently the sensitivity to and tolerance for CCDs in consumption pattern or attributed meanings to products and services is a highly desirable trait for remaining competitive in foreign/international marketing. This is because firms/marketers will capitalize on the above decision/policy and develop products that appeal to foreign markets that have heterogeneous cultures and needs they are not attuned.