What global marketing opportunities and challenges would you face if the simulation were based on a real-world international situation?
What global marketing opportunities and challenges would you face if the simulation were based on a real-world international situation? Discuss the difference in the experience you would have without the assumptions built into the simulation (e.g., no cultural barriers, language, currency, tariffs, mode of entry challenges). How would Hofstede’s power distance index (PDI) influence your global growth strategies?
Submitted on:
Jan 25, 2024, 7:16 PM
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Alisha Brand
Jan 25, 2024, 10:45 PM
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Greetings Professor and Classmates,
Global Marketing Opportunities
Global market opportunities simply refer to conditions that are favorable for a company to expand outside its home country market (Libretexts, 2023). In the game simulation we are primarily focused on a biking organization, which doesn’t give a lot of real-world scenarios. But it does allow us to see things such as culture barriers, issues with advertising, profits and etc. If the scenario were based on a real-world international situation we should consider changing our communication strategies which is solely based on locals in the market. The location plays a big role in both the real-world and in game simulation because this could also tie into or relate back to culture barriers/differences that we might be faced with in the real-world simulation rather than the in game simulation.
Hofstede’s Power Distance Index (PDI)
The power-distance index or PDI is a measurement of the acceptance of a hierarchy of power and wealth by the individuals who make up the general population of a nation, culture, or business (Kenton, 2024). I believe that Hofstede’s PDI would greatly influence my global growth strategies. I say this because while going through the meaning of Hofstede’s PDI and how it works it does have a very high significant influence on international business training. With that being said it could allow me to look and think differently on the international side just in case the business does take off internationally one day.
Thanks,
Alisha Brand
References
Kenton, W. (2024, January 7). Power-Distance Index (PDI): definition, how it works, and examples. Investopedia. https://www.investopedia.com/terms/p/power-distance-index-pdi.asp
Libretexts. (2023, August 7). 7.1: The global market and advantages of international trade. Business LibreTexts.
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