How important is understanding; demography, culture, ideology and history of people from other countries when doing business there? An argument is that people want what we have and their tastes are the same, here are some universal products; McDonalds, Calvin Klein Jeans, Apple Phones, an Ray Ban sunglasses. Defend or not an argument for population demographic research in International Business
Answer: Demography, culture, ideology and history of people play an important role while doing business nationally and internationally.
Demographic features- These refer to the age, sex, caste, income etc. Companies make products or provide services according to age of people, their target market can be children, young people or old age people, a company can make diapers for babies or for old age people or for both. Company also keeps in mind the gender of people while making products, for example; salon services are for both but the way of service and variety of service are differ in men and women. Companies make low cost products for lower income group and premium products for higher income group.
Culture- It plays a great role in making a product or delivering a service. There are people of different cultures and traditions, some people are modern and some are still traditional, these features encourage companies to make the products accordingly. Companies make products according to behavior, beliefs, feelings and thoughts so that customers may connect themselves with the product and service.
Ideology- It contains socialism, communism, Fascism, Liberalism, Nationalism etc. Some people are more social, some are communist and some are nationalist. Companies make products and offer services based on ideology of the people, Facebook and Instagram work best for those who are social. Film makers make films on national leaders and heroes.
Some companies make products for people of all the generation, income, sex, culture. For examples: McDonalds burger and Dominoes Pizza, people of each and every age like them. Price is same for all. If we talk about fast and junk food, people of all age like that, their taste is almost same in that.
How important is understanding; demography, culture, ideology and history of people from other countries when doing business there? An argument is that people want what we have and their tastes are th...