Answered Essay: Comment on the following statement in terms of how to correct this common situation

Comment on the following statement in terms of how to correct this common situation, using two separate examples: “Lack of cultural knowledge as well as expertise in doing business abroad and in specific export markets is a key barrier to trade and a key problem international managers must address.” Also, what is the following statement trying to convey in terms of international marketing? Once upon a time there was a great flood, and involved in this flood were two creatures, a monkey and a fish. The monkey, being agile and experienced, was lucky enough to scramble up a tree and escape the raging waters. As he looked down from his safe perch, he saw the poor fish struggling against the swift current. With the very best of intentions, he reached down and lifted the fish from the water. The rest was inevitable. (Don Adams, “The Monkey and the Fish: Cultural Pitfalls of an Educational Advisor”)

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Answer

1.
Each country has its own cultural characteristics and managers doing international business should know it. The managers should identify the target audience and market on the basis of product and services they offer. The first analysis belongs to the fixation of the cultural dimensions of the market as suggest by Hofstede model. It will create cultural preferences, local values and trends of the market. Accordingly, the international marketing strategy can be prepared. Further, the workforce should have a good blend of diversity that could understand the market better. Before, entering into the market it is good strategy to tie up with the distribution channels in the overseas market. It will give expertise, ideas of the local market to help managers.

2.

It is the example that focuses upon adaptability and cultural responsiveness. An international managers entering into the new markets should understand upon it. With all noble intentions, a MNC comes up with the global product, but it is out of the context with the culture, then the product will not survive. It can be seen by the retail food chains such as McDonalds. The retail chain always localizes its products that suits to the local taste and preferences, rather trying to change the customers according to the product.

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