Question

There are some businesses/products are operating in foreign countries. However, they are still maintain its own local culture positioning as an important business component. Explain an actual example for the scenario above.

Answer 1

With the present global scenario , the world is seeing a large displacement of culture due to constant migration of the population. Usually a cultural identity is a major advantage when it comes to creating a position in the business world. By creating position , it means creating an environment which is not just new in a foreign land but also creates an edge in terms of knowledge and familiarity component of the creator. Other advantages may include attraction of exposure to new experiences which a foreign land will cherish. It gives the market an additional component to try and with digital world striving along with a higher rate of influence of social media , the idea of trying out different things is popular.

Given the obvious advantages of demand for local culture of foreigners , some examples can be put forward like resturants started by foreigners are usually having delicacies from the places they belong from . They create a brand for themselves and capture market in foreign land .