MARKETING ACROSS CULTURES Assignment Example | Topics and Well Written Essays - 2000 words

MARKETING ACROSS CULTURES - Assignment Example If one looks at the culture of the country then it is found that it is a mix of western and Hispanic cultures. Other advantage of the country lies in the fact that it is a stable democracy and the market offers size and diversity that should be very much appreciated. However it is very difficult to find a single distributor or agent that can cover the huge market. Mexico is one of the two largest markets in the Latin America and is a market that is characterised by high growth potential on one hand but a risky economic and political environment. It is also found that the legal system in Mexico is very different from that exists in UK and it is also found that the culture of the country is also very different. It is also found that the external environment of the company plays an important role in the company deciding on the marketing strategy. In order for the company to expand in the Mexican market it is important for the company to develop and try to maintain close relationship with the customers and partners of the business. It is found that the Mexicans in general prefer to receive direct communication in the form of direct telephone calls and face to face meetings. It is also found that the companies in Mexico are extremely conscious of the price and also tend to seek financing activities and also desire exclusive agreements. It is also found that the businesses value service and flexibility. For entry into the market the company can either use equity modes or non equity modes. Equity modes that the company can use to enter into the market will be in the form of Joint ventures, or wholly owned subsidiaries (Peng, Wang, Jiang, 2008). Non equity modes of entry that the company can use will be in the form of exporting to the country and contractual agreements (LÃ ©vesque and Shepherd, 2004). Each of the modes that are said above has unique advantages and disadvantages associated with it (Sakarya, Eckman and Hyllegard,