Does the difference between cultures in the U.S. and other countries impact the buying and marketing strategies or decisions made in the global marketplace?
Yes, the major differences in cultures create differences between buying and marketing strategies in a global marketplace.
Since each country has its own culture, culture determines how the marketing mix (product, place, promotion and price) should be altered to communicate effectively with the target market. For example, in India consumers prefer shopping at stores that resemble bazaars.
This example of physical situation is important for companies trying to expand into India. Those companies that established large retail stores that resemble those in America were ignored by Indian consumers. They preferred busy, cramped stores that were familiar to the bazaars of their country.
In addition, many overseas countries such as China and Japan preferred their products in smaller containers due to less disposable income and less space in their home to store products.
Without conducting marketing research, companies will fail in the global marketplace if they do not alter the marketing mix to fit the culture.