Assignment
Applying Cultural Values for a Multinational Company The following issues can be conducted as follows-
1. Innovativeness of the proposed product or services.
We will follow the Uncertainty avoidance index (UAI) for the Innovativeness of the proposed product or services.
Uncertainty Avoidance Index (UAI):
The Uncertainty avoidance index measures the tolerance of uncertainty and ambiguity among members of society.
Example:
Bangladesh -66 India -40 Pakistan -70
Low/High value Interpretation Low value Risk prone. Risk prone which means the country will accept the high risk or uncertainty. High value Risk averse. Risk averse which means the country will accept low risk tendency or uncertainty. Marketing Implication
Here, Innovativeness of the proposed product or services may be accepted in India. Because the India is risk prone country and the value is 40.
In Pakistan and Bangladesh will not accept the higher level of risk and therefore new innovation. Because these are risk averse countries and the values are 66 and 70.
2. Types of products (group consumption Vs Individual consumption).
We will follow Individualism and Collectivism Index (IDV) for the types of products (group consumption Vs Individual consumption).
Individualism/Collectivism Index (IDV):
The Individualism/Collectivism Index refers to the preference for behavior that promotes one’s self-interest.
Example:
Bangladesh -20 India -48 Pakistan -14 Low/High value Interpretation Low value Collectivism. It means that the people are more collective. High value Individualism. It means that the people are more Individualistic. Marketing Implication Here, the Indian people may be
1. Innovativeness of the proposed product or services.
We will follow the Uncertainty avoidance index (UAI) for the Innovativeness of the proposed product or services.
Uncertainty Avoidance Index (UAI):
The Uncertainty avoidance index measures the tolerance of uncertainty and ambiguity among members of society.
Example:
Bangladesh -66 India -40 Pakistan -70
Low/High value Interpretation Low value Risk prone. Risk prone which means the country will accept the high risk or uncertainty. High value Risk averse. Risk averse which means the country will accept low risk tendency or uncertainty. Marketing Implication
Here, Innovativeness of the proposed product or services may be accepted in India. Because the India is risk prone country and the value is 40.
In Pakistan and Bangladesh will not accept the higher level of risk and therefore new innovation. Because these are risk averse countries and the values are 66 and 70.
2. Types of products (group consumption Vs Individual consumption).
We will follow Individualism and Collectivism Index (IDV) for the types of products (group consumption Vs Individual consumption).
Individualism/Collectivism Index (IDV):
The Individualism/Collectivism Index refers to the preference for behavior that promotes one’s self-interest.
Example:
Bangladesh -20 India -48 Pakistan -14 Low/High value Interpretation Low value Collectivism. It means that the people are more collective. High value Individualism. It means that the people are more Individualistic. Marketing Implication Here, the Indian people may be