Assignment Sample on 7BSP1271 Marketing Across Cultures 

Introduction

The importance of different Small and Medium-sized Enterprises (SMEs) have risen to become drastically impressive within the advent of centuries. The European Union defines a SME as the business entity which has been considered as the individual entity engaged in different business activities, having a business activity that is usually associated with the partnership kind of association. Marketing Mix has been found essentially important to enable an organization to have entered a market and let the organization find a valuable share of the market. The business organization needs to first define the target market for itself and consider the strategy to gain a substantial portion of the market.

The purpose of this report is to analyze and state the growth of a SME with reference to the culture. The reference is to different markets having their different sets of marketing strategy and address the question of the four elements of marketing mix with reference to culture described in this report.

Description of the organisation

The organization that is being discussed in the report is about Prevayl, which is a company designing smartwear and integrating modern technology with witty sports or workout outfits. Prevayl has a surrounding design system that enables and facilitates people training or doing different levels of workout, with smart technology (Prevayl.com. 2021). In the modern ages, smart clothing has been quite a fashion where the accurate and tiniest measurement of vascular movements within the body functions with (Jiang et al., 2021). The rise of smart clothing has been explained more accurately by the increasing trend of the different solutions that people need while being engaged in gymnasium or daily workout.

The functioning of the different body trackers and the minute movements of body muscles that have been more focused and diversified by the organization of Prevayl. The smart technology and the innovative design in order to bring in a more defined customer base have been the look of the company to reinvent such as the technologies that may anticipate the needs of consumers (Fernández and Fraga, 2018). In the modern days, the integration of the electronic smart sensors with the variable muscle movements often means to enable a seamless productive meaning to body workout has been a prime focus of smart wearable manufacturing companies.

4 elements of marketing mix relating to cultural theory

Product

The products sold by Prevayl are mostly about the different kinds of smart wearables that help the different consumers to have a definitive body wear that is smart enough with integrated technical support embedded inside. The smart t-shirt that is sold has several features, in addition to which there are these minimal seaming styles of the clothing wearable, under brand compressing technology that helps the consumer to have a comfortable wearing style. There is also the presence of the stretching and recovery system and a better grip in the cases of excessive body sweat. The fabrics, as has been claimed by Prevayl, is composed of breathable spandex material, and contains the several dynamic sensors that help the body to move and roll with the body movements. The feature of absolute stretch and integrated electrodes helps the products of Prevayl reach a summit of top notch integration of smart technology with body wearable making their every product premium for the first time body exercisers.

The various researches have shown the incorporation of the technology has been generating a good impact on the purchasing intentions of the consumers by making them much more aware of their purchasing decisions and analyzing the importance of connected retail systems (Mosquera et al., 2018). The cultural behavior that may be related to the household behaviors and the age range of the consumers purchasing the products are significant factors. In addition to this, the different cultural factors that have been quite influential, such as the different socio-cultural and economic purview, needs to be studied more with the reference to Consumer Culture Theory (CCT). CCT establishes the relationship between the different consumer actions, marketplaces and different cultural actions that are more plural to generate a broader perspective on the study of cultural influence on buying decisions.

CCT explores the different kinds of heterogeneous relationship between the purchasing decisions and the frame of global market capitalism, where the resources that are central to the consumers purchasing decisions have gained importance. The collective sense of different products and the purchasing decisions have been explored more and with conflicting identities and different lives in the theory of CCT. The example of the particularly manifested consumer culture has remained grounded in the specific socio economic background. Although the involvement of a group of people in a particular culture may remain much more conscious about their health and have a better approach towards the workout that kind of cultural impact is mostly on the using of smart wearables that usually is manufactured by Prevayl. Prevayl designs for both genders, and women get a huge advantage on the sports inner wear, by having a smart adjustable inner wear integrated with the smart sensors to track every detailed movements of the body, with the finest fabric composition and the different other features ensuring maximum comfort.

The cultural influence on the different products has been quite a topic of discussion, as does the correlation between the cultural background and the consumption pattern. There are certain cultural taboos that prohibit the use of certain products without the different parts of the globe. Several times it may happen that while working out, the different compression style and the integrated electrodes of the costume helps the person gain a better advantage of the workout. The variation in the sports attributes regarding the tracking of constant measurement of the synaptic biological movements helps the medical industry to maintain a consistent record of the patients (Aroganam and Harrison, 2019). Prevayl have been assimilating the different technological factors in their original products since a long time, and the incorporation have been quite beneficial for the large number of consumers present in the industry using the smart wearables for a long time. The study of CCT has been emergent since various years, and the exploration of the divergent power relations with the consumption and the market mediate relationships as the different systems of classification of the consumer identities has been topic of several researches (Arnould and Thompson, 2018).

Figure 1: Consumer Culture Theory

(Source: Arnould and Thompson, 2018)

Price

Pricing is considered to be an important factor which directly impacts the success or failure of a product in the market and due to this reason pricing strategy needs to be given utmost care and attention. On the other hand, it may be asserted that in today’s modern business world most of the companies are paying attention towards dynamic pricing strategy which is proving to be an effective way to attract customers (Kareh, 2018). On a broader note, it may be implied that people belonging to different cultural backgrounds reside in the UK and due to this reason Prevayl has always focused on analysing the market before making its final pricing of the products. Prevayl has a wide range of products for both men and women including men’s smart shirts which start from £170, men’s smart tank which starts from £160 and women’s smart adjustable innerwear starting from £170 (Prevayl.com. 2021). In other words, it needs to be mentioned that Prevayl is required to focus on the various cultural factors including long term orientation and individualism of the members of the society which may directly or indirectly impact the business of the company in the long run.

Figure 2: Hofstede’s cultural dimensions

(Source: Hofstede Insights. 2021)

However, it needs to be opined that pricing has a different impact on the different classes of the society which needs to be taken into consideration before making the final pricing of the products. Apart from this, it has to be proposed that understanding the psychology of the customers of a country becomes extremely essential in order to generate a positive result and due to this reason understanding consumer behaviour also becomes an essential factor. Moreover, it may be added that any kind of lack of conscious awareness in understanding the psychology of the customers may generate unexpected results which eventually impacts the growth of a company in a negative way (Liu and Soman, 2018). Furthermore, it needs to be stated that Prevayl is required to closely analyse the pricing strategy of its rival companies including FOND OF, Elevate, Anyfin and Sportracker. Additionally, it has to be implied that the outbreak of the Covid-19 has made certain changes in the economy of the UK which needs to be taken into consideration before making a strategic pricing policy of the products of the company in order to generate better results in the future.

In addition to this, it is considered to be immensely important to analyse the existing relationship between culture and pricing of the products and due to this reason understanding the difference between low society and high society becomes crucial. On a contradictory note, it may be argued that the pricing strategy of Prevayl also depends on the charges imposed by various stakeholders of the company which is closely linked to the pricing of the products. In a more specific way, It needs to be mentioned that pricing has always been an immensely challenging aspect for companies as it may increase or decrease the number of customers for a company and due to this reason focusing on an appropriate pricing strategy requires tremendous market research (Kienzler and Kowalkowski, 2017).

Along with this, it has to be acknowledged that Prevayl is required to pay attention towards interpreting the cultural preferences of the customers of the UK which will definitely prove beneficial in maximising the customer base of the company in the long run. In a concluding remark, it may be stated that Prevayl needs to focus on the existing opportunities in the market of the UK and analyse the pricing strategy adopted by its rival companies in order to maintain price fairness.

Place

Place or geographical location becomes an important factor in the success or failure of a product as the target customers of a place entirely influence the overall marketing strategy of a company. However, it may be mentioned that marketing mix strategy directly influences the levels of customer satisfaction and loyalty of the prospective customers where use of latest technologies have made it easier to carry out marketing throughout various locations of the world in a smooth way (Sudariet al., 2019). Furthermore, it may be asserted that understanding the cultural atmosphere of a place plays a vital role launching a new product or service in a particular region or location and due to this reason, understanding the local language becomes extremely important. On the other hand, it needs to be opined that communication serves as an important aspect of marketing where understanding the local language becomes crucial for carrying out successful marketing campaigns. Additionally, it has to be implied that gaining a profound knowledge about the cultural practises and preferences of the customers residing in a region becomes truly essential to generate desired results in the long run.

Figure 3: 4P’s of marketing mix

(Source: Sudari et al., 2019)

Prevayl is required to pay attention towards strengthening its communication strategy in order to establish a strong bond with the suppliers, sellers, vendors and customers. However, conducting in depth market research proves beneficial in understanding the role of the stakeholders and also helps in understanding the customers in a better way (MacInnis et al., 2020). On a broader note, it has to be proposed that the company needs to focus on the practice of taking feedback of the stakeholders and customers on a regular basis in order to further improve its marketing strategies and policies in the market of the UK. Moreover, it may be stated that respecting the cultural practises and values of the customers also becomes an important factor in the success of a company and Prevayl is no exception to it. Apart from this, it may be mentioned that Prevayl is required to focus on the issue of overcoming the existing cultural barriers which may impact the company’s growth in the future through improving its communication network at different levels.

Along with this, understanding the dynamic aspects of the society including social infrastructure and lifestyle of the customers also becomes truly essential in making a product successful in a particular place. In addition to this, focusing on the social issues of equality and taking into consideration horizontal and vertical features of a place provide an added advantage to the entire marketing strategy. On a broader note, it needs to be opined that aligning marketing mix strategies with sustainability has emerged as a new goal for companies which help in gaining competitive advantage to a considerable extent (Pomering, 2017). In a more specific way, it may be added that place also serves as an important way of targeting the customers in a proper as well as accurate way which eventually proves beneficial in conducting intercultural marketing. On the contrary, it has to be stated that analysing the cultural sensitivity of the customers of a particular region becomes vital for increasing the sales of products and Prevayl is required to stay focused on this aspect.

In a concluding remark, it may be mentioned that the marketing team of Prevayl needs to implement suitable marketing strategies through maintaining effective communication within the company and also focus on constant improvements required for achieving the goals and objectives of the company in the future. The company is required to analyse and interpret various social factors in detail to maximise its market share by attracting the customers through implementing fruitful marketing techniques.

Promotion

Prevayl has been mostly manufacturing different kinds of smart wearables required by various sports persons in their training and exercising, and has been employing different strategies undertaking digital marketing. Digital marketing in the promotion of the sports wearables has been quite important, because of the relative importance that it has gained over time and being established as one of the perfect tools to have a better promotional alignment with smart wearables. The marketing in various SMEs have turned to become human centric with the adopting of several strategies that mostly focus on the digital marketing strategies to use different digital channels for promotion. In addition to this, digital marketing has become more closed on and focused on the customer ways, having a changing and evolving role throughout the entire market economy. On a brief note, the rise of digital marketing and the establishment of the several digital medias to promote has been successful in establishing the long term relationship with consumers and making stabilized links with the market (Fejling  et al., 2019). The different smart wearable companies such as Prevayl have taken the course of digital marketing as one of the most suitable ways, as it enables the company to have a broad strategy as collecting the different customer information and improving upon the technologies. The vital element of the digital promotion of smart wearable clothing and different smart outfits, the addition of the consumer physical movement data for further improvements need a better life logging function and better convincing strategy taken by the company. The entire customer database usually has the integration and the inclusion in the company user servers and by the knowledge of having such personalized information, the company faces a broader base to market their products and get the maximum benefit of digital promotion. Various different companies use the most popular service such as Google Analytics and different other forms of market analytic tools to measure the effective use of digital marketing of the products manufactured (Melović et al., 2020). The smart sportswear company Prevayl has been following the model of Trompenaars Cultural Dimensions Model for the efficient digital promotion of the products they have been manufacturing with precision. The cultural influence has been quite significant after the following up of specific elements of the model, in the reference to Specific culture, achievement oriented culture and internalistic culture. In the UK, the specific culture emphasizes on the fact the private life of an individual deserves the space and is not mixed with the work life, such as to have a healthy private life which may increase the extent of productivity of an individual employee to a higher scale. The achievement oriented culture is more prevalent in the UK, where the status is mostly given after the achievement of the specific task. The UK is much more conscious about the proper measures taken to not disrupt and corrupt the environment, by the application of the internalistic culture. The different wearables that are mostly used by consumers desiring you stay more health conscious and be aware of the environmental hazards, such monitoring have been assimilated as advanced technology to be more functional in the latest smart wearables. There has been a great variation brought by the company to be in the specific parameters and improve the detailed monitoring of the natural feasibility (Mamun and Yuce, 2019).

Figure 4: Trompenaars Cultural Dimensions Model

(Source:Mamun and Yuce, 2019)

Conclusion

This report has been framed and created to focus on the smart wearables in relation to the cultural influence on the different kinds of products. The report contains highlighted portions to explain clearly the fact of the cultural impact that has been laid directly, referring to the manufactured products of Prevayl in relation to the 4Ps of marketing mix.

Recommendations

It may be asserted that Prevayl should focus on strengthening its workforce in the next one year where various skill development programmes will be provided to the employees of the company in order to make the workforce more confident, determined, motivated and productive. The company should also pay attention towards overcoming the existing barriers through implementing effective communication strategies and due to this reason the company is required to organise seminars and workshops to enhance the communication skills of the employees. Identifying the areas which need to undergo improvements becomes vital for enhancing the productivity of the workforce and also helps in overcoming numerous challenges (Sousa and Rocha, 2019).

In the next year, Prevail should focus on improving its leadership roles of the organisation at every level which will generate better outcomes in the long run and necessary steps are to be taken to monitor and track the performance of employees and staff. Additionally, the company needs to pay attention towards maintaining flexibility in the company where leadership roles are also required to undergo changes according to the changing scenarios and circumstances. Furthermore, using artificial intelligence will definitely help in achieving increased levels of productivity and will also prove beneficial for improving the decision making process (Canbek, 2020).

In the next year, the company should pay attention towards improving its innovations along with upgrading its technologies which will assist the company in gaining competitive advantage in the market. Prevayl should align its technological developments with the demand and requirements of the customers in order to attract more customers and increase the sales of the products. Moreover, the company is also required to allocate more financial resources for boosting its research and development team for producing exceptional products in the market which will certainly grab the attention of the customers in the global market. Additionally, technologies also provide assistance in knowing the customers in a proper way by creating database for strong all the vital information (Mintel. 2021).

References

Al Mamun, M.A. and Yuce, M.R., 2019. Sensors and systems for wearable environmental monitoring toward IoT-enabled applications: A review. IEEE Sensors Journal, 19(18), pp.7771-7788

Arnould, E.J. and Thompson, C.J. eds., 2018. Consumer culture theory. Sage.

Aroganam, G., Manivannan, N. and Harrison, D., 2019. Review on wearable technology sensors used in consumer sport applications. Sensors, 19(9), p.1983.

Canbek, M., 2020. Artificial Intelligence Leadership: Imitating Mintzberg’s Managerial Roles. In Business Management and Communication Perspectives in Industry 4.0 (pp. 173-187). IGI Global.

Fejling, T., Torosyan, E., Tsukanova, O. and Kalinina, O., 2019, March. Special aspects of digital technology-based brand promotion. In IOP Conference Series: Materials Science and Engineering (Vol. 497, No. 1, p. 012027). IOP Publishing.

Fernández-Caramés, T.M. and Fraga-Lamas, P., 2018. Towards the Internet of smart clothing: A review on IoT wearables and garments for creating intelligent connected e-textiles. Electronics, 7(12), p.405.

Hofstede Insights. 2021. Country Comparison – Hofstede Insights. [online] Available at: <https://www.hofstede-insights.com/country-comparison/the-uk/> [Accessed 29 December 2021].

Jiang, S., Stange, O., Bätcke, F.O., Sultanova, S. and Sabantina, L., 2021. Applications of Smart Clothing–a Brief Overview. Communications in Development and Assembling of Textile Products, 2(2), pp.123-140.

Kareh, A., 2018. Evolution of the four Ps: Revisiting the marketing mix.

Kienzler, M. and Kowalkowski, C., 2017. Pricing strategy: A review of 22 years of marketing research. Journal of Business Research, 78, pp.101-110.

Liu, M.W. and Soman, D., 2018. Behavioral pricing.In Handbook of consumer psychology (pp. 656-678).Routledge.

MacInnis, D.J., Morwitz, V.G., Botti, S., Hoffman, D.L., Kozinets, R.V., Lehmann, D.R., Lynch Jr, J.G. and Pechmann, C., 2020. Creating boundary-breaking, marketing-relevant consumer research.Journal of Marketing, 84(2), pp.1-23.

Melović, B., Jocović, M., Dabić, M., Vulić, T.B. and Dudic, B., 2020. The impact of digital transformation and digital marketing on the brand promotion, positioning and electronic business in Montenegro. Technology in Society, 63, p.101425.

Mintel. 2021. Mintel Reports: market analysis and market studies. [online] Available at: <https://www.mintel.com/mintel-reports> [Accessed 29 December 2021].

Mosquera, A., Olarte-Pascual, C., Ayensa, E.J. and Murillo, Y.S., 2018. The role of technology in an omnichannel physical store: assessing the moderating effect of gender. Spanish Journal of Marketing-ESIC.

Pomering, A., 2017. Marketing for sustainability: Extending the conceptualisation of the marketing mix to drive value for individuals and society at large. Australasian Marketing Journal, 25(2), pp.157-165.

Prevayl.com. 2021.Prevayl. [online] Available at: <https://www.prevayl.com/> [Accessed 29 December 2021].

Sousa, M.J. and Rocha, Á., 2019. Skills for disruptive digital business.Journal of Business Research, 94, pp.257-263.

Sudari, S., Tarofder, A., Khatibi, A. and Tham, J., 2019.Measuring the critical effect of marketing mix on customer loyalty through customer satisfaction in food and beverage products.Management Science Letters, 9(9), pp.1385-1396.