Essays on The Influence of Cultural Factors on Consumer Buying Case Study

Download full paperFile format: .doc, available for editing

The paper "The Influence of Cultural Factors on Consumer Buying" is a great example of a Marketing Case Study. The decision process for the optimal mode of entry of a company to enter the international market is a complex aspect that consolidates divergent aspects. Entry into new markets is an imperative aspect of entrepreneurship. Asserting that the market entry strategies have been thought in literature as a discrete aspect, as such this retrospect paper develops an empirical framework for Zorba Company entry into the UK bakery industry. Whereas the Bakery industry is not growing at a comparable rate as other developed countries, it creates a positive outlook resulting in the ongoing revolution from a fragmented artisanal business aspect, to more industrial.

Such an entry is supported through choosing an informed entry strategy – essential in creating a company’ s long term success. The most appropriate strategy is determined by the market potential, the company’ s degree of having international expertise and the experience that can effectively commit the entry strategy (Durmaz, Yakup 2014). The United Kingdom Bakery market is approximated to be 3.6 billion dollars annually, as one of the biggest markets in the food industry.

It is approximated that 11 million loaves of bread are consumed daily (The Federation of Marketers 2013 ). In the four categories (Bakery Snacks, Rolls and Baps, Pieces of the bread of the World. ) bread accounts for the biggest percentage which is 54% of the bakery sales in the United Kingdom. The United Kingdom's population is changing in three main ways that render the increase in bread consumption in the future. These ways include the ethnic mix which means dietary restrictions must apply, the aging population which has triggered the introduction of small loaves and also the growth in the proportion of single and two people households (The Federation of Marketers 2013). 2.0 Literature Analysis 2.1 Market Analysis For the past five years, the bakery markets have been emphasizing on the promotion of its products to the consumers through a combination of value-added loyalty promotions.

The industry has worked towards the improvement of the versatility of their products so as to maintain their customers and to help them to be economical in managing their food shopping. The trends in the consumption of bakery products have been driven by external factors which are: Changes in the United Kingdom population, the need for convenience, concerns for healthy feeding, and the urge for a vast and increased awareness of other food preparation styles. In spite of the completion of the emerging bakery categories in the United Kingdom, bread remains to be a staple food in the United Kingdom’ s diet.

This is clearly depicted by the virtual of it being purchased by 99% of the households and it is observed that this figure has been static for quite a number of years (The Federation of Marketers 2013).

It is estimated that the average household in the United Kingdom purchase over 70 loaves of bread annually which reflects an average of 73.31 dollars (The Federation of Marketers 2013).

References

List

Bitzenis, A. and Vlachos, V.A., 2015, The Fight against the Shadow Economy as an Exit

from the Greek Sovereign Debt Crisis. Europe in Crisis: Problems, Challenges, and Alternative Perspectives, p.275.

Bread Barometer 2014, ‘2013 Bread Barometer Survey: The Future of Bakery is Freshly Baked’, http://www.lantmannen-unibake.com/en-GB/News/Bread-Barometer-Survey-Results/ [26 April 2016].

Bobrow-Strain, A 2012, White bread: a social history of the store-bought loaf. Beacon Press.

Casas, R., De Gortari, R. and Santos, M.J., 2000, The building of knowledge spaces in Mexico: a regional approach to networking. Research Policy,29(2), pp.225-241.

Childs, J.M., 2013, ‘Budgets are Moral Documents: Hunger, Money, and Community’, Dialog, 52(1), pp.10-18.

Daily Telegraph 2016, ‘Flour power: Britain's 20 best bakeries’, Daily Telegraph. Availale from http://www.telegraph.co.uk/food-and-drink/features/britains-best-bakeries/ [26 April 2016].

Durmaz, AD 2014, ‘The Influence of Cultural Factors on Consumer Buying

Behaviour and an Application in Turkey’, Global Journal of Management and

Business Research-GJMBR-E, 14(1).

Euromonitor 2015, ‘Bakery in Australia’, Euromonitor International. Available from:

http://www.euromonitor.com/bakery-in-australia/report [26 April 2016].

Ferraro, G, and Brody, EK 2015, Cultural Dimension of Global Business. Routledge.

Gesteland, RR 2012, Cross-Cultural Business Behavior: A guide for global management. Copenhagen Business School Press DK.

Hernández, J 2011, ‘Internationalization strategies followed by three Mexican pioneer companies Grupo Modelo, Grupo bimb and Cemex issues and Challenges’, International Journal of Business and Commerce, Vol. 1, No. 1

Hooker, J 2012, ‘Cultural Differences in Business Communication’,

The handbook of intercultural discourse and communication, 29, p.389.

Killing, P., 2012, Strategies for Joint Venture Success (RLE International Business) (Vol.

22). Routledge.

O'Connor, Á., 2012, ‘Bread consumption in the UK: what are the main attitudinal factors affecting current intake and its place in a healthy diet?’, .Nutrition Bulletin, 37(4), pp.368-379.

Onetti, A, Zucchella, A, Jones, MV, and McDougall-Covin, PP 2012, Internationalization, innovation and entrepreneurship: business models for new technology-based firms’, Journal of Management & Governance, 16(3), pp.337-368.

The Federation of Marketers 2013, ‘The British Bakery market’, Accessed: http://www.bakersfederation.org.uk/pdfs/media-and-resources/FS3%20-%20The%20British%20Bakery%20Market%2030-10-13-FINAL.pdf

Download full paperFile format: .doc, available for editing
Contact Us