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In: Economics

People of different countries have different value orientations that cause variation in preferences for products and...

People of different countries have different value orientations that cause variation in preferences for products and brands. For this discussion forum: select ONE of Hofstede's dimensions or ONE of Schwartz's Cultural Values (from documents distributed & posted on Moodle) describe/briefly summarize the dimension or type, apply the dimension or type to a particular culture (i.e. a country, a subculture, a racial group, and ethnic group) and state how the dimension/type relates to consumption and consumer behavior. In other words, does a particular kind of person or group buy or use a certain product/service because of the value identified?

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Expert Solution

Taking Hofstede's cultural dimensions theory to explain the above criteria :

1. Hofstede's theory is a structural analysis of cross - culture communication which had been developed by Geert Hofstede.

2. This theory explains the effects of society's culture on the values of the public eventually affecting their behaviour.

3. Various dimensions like Power Distance Index (PDI), Individualism vs. Collectivism (IDV), Uncertainty Avoidance (UAI), Long-term Orientation vs. Short-term Orientation (LTO) etc., form the theory but taking the last dimension LTO as an example the explanation continues below.

4. The dimension of LTO associates the change of the consequences in the future compared to past consequences. The lower the degree of this dimension, the more the traditions are kept and admired.

5. This type of societies resist to innovation. So obviously there will higher demand to the old products than the new ones. This may due to society poor financial status and also the mind set of the people.Countries like North Korea, Bhutan lack technological innovation due to financial status and North Korea due to its strict laws and disciplined world-wide.

Rahul Sunny answered 1 year ago
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