Question

Allied bank formed an alliance with zong(mobile company). Allied bank costumers make financial transaction with thier mobile phone . the adoption of cell phone traction is new ways for people of pakistan in the growing concern that it would not be adopt by its postpaid costumer. how would you access this by hofstede cultural method. what sould the right market strategy.(4ps)?

Answer 1

Hofstede culture is a cross cultural communication which shows the effects of society’s culture based on the values of the people and also find how the values related to the behaviour of the people using factor analysis. This includes the comparison of individualism, collectivism and uncertainty avoidance. This culture finds the cross cultural psychology of different nations. The significance of the cultural differences and the increasing level of diversity improve the acceptance of this theory in the current world. This tool helped to find the cultural dimensions of other countries in the world. This cross communication played an important role in international trade and relations. In every perspective the communication can be affected by different languages and its culture. Acceptance of different cultures in international trade will increase the bond of foreign relations.
Most of the transactions are done through mobile application at this century. This form of transaction was adopted from western culture and innovations. This will make the transaction more easily and lower time consumption. This is an example of Hofstede culture. This is considered as an important strategy of every developing country which adopts new technologies to promote their level of growth. This will be increase the availability of new methods in the market and also the higher level of growth. There is high usage of mobile phones in the society will enhance the level of development. This is the right market strategy which every banking sector should adopt which increase the efficiency and effectiveness of the market structure and the overall development.