Marketing across cultures analysis for Lime Business Research Paper (Research Paper Sample)

MARKETING ACROSS CULTURES ANALYSIS FOR LIME
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Table of Contents TOC \o "1-3" \h \z \u Part 1: Introduction PAGEREF _Toc28332724 \h 3Part 2: A Cross Cultural Analysis PAGEREF _Toc28332725 \h 4Hofstede Cultural Dimensions PAGEREF _Toc28332726 \h 4Hofstede’s Cultural Dimensions: U.S. and China Compared PAGEREF _Toc28332727 \h 6Part 3: Social and Cultural Factors and the Marketing Mix PAGEREF _Toc28332728 \h 8Social and Cultural Factors PAGEREF _Toc28332729 \h 8Marketing Mix PAGEREF _Toc28332730 \h 10Maslow’s hierarchy of needs PAGEREF _Toc28332731 \h 10Summary of Maslow’s hierarchy in China PAGEREF _Toc28332732 \h 11Standardization versus Adaptation PAGEREF _Toc28332733 \h 12Part 4: Market entry strategy PAGEREF _Toc28332734 \h 12Exporting PAGEREF _Toc28332735 \h 13Joint Venture PAGEREF _Toc28332736 \h 13Wholly owned subsidiaries PAGEREF _Toc28332737 \h 14Recommended market entry strategy PAGEREF _Toc28332738 \h 14Establishing a wholly-owned subsidiary in China PAGEREF _Toc28332739 \h 15Conclusion PAGEREF _Toc28332740 \h 16References List PAGEREF _Toc28332741 \h 17
Marketing Across Cultures Analysis for Lime
Part 1: Introduction
This report on the cultural analysis focuses on the market entry strategy of Lime in China. Using Hofstede’s Cultural Analysis approach, this essay provides the cultural differences between the United States of America and Chinese market. The country’s growing economy and high population informed the choice of the Chinese market. According to the projections by the Oxford Economics (2012), China has been undergoing positive radical change. Therefore, China makes an ideal market for Lime Scooter.
Lime Scooter App is a product of Neutron Holdings, Inc. that operates as Lime. Toby Sun and Brad Bao started the company in 2017 with 125 bicycles. It was formerly operating as LimeBike. The rationale for the choice of Lime was based on its previous success in the U.S.A. As a transportation company, Lime offers normal pedal bikes, electric bikes, and electric scooters sharing systems in different parts of the world. Users can search and find dockless vehicles through their mobile app that highlights the available vehicle of interest. The company launched its mobile application to make it easy for users to find scooters near their location. Its primary aim has been to connect riders to the places and individuals that matter most. While the company has been successful in the USA over the years, the strategies that worked in the country may not be applicable in other parts of the world such as in China. Often, the way consumers receive and build trust around a given product or service is depended largely on their cultures (Krawezyk 2012). With the USA and China having diverse cultures, analyzing the difference in the cultures of the two countries would be useful in creating a successful marketing strategy. This report addresses the expansion on Lime Scooter App into China. The primary aims include exploring cultural differences using cross cultural analysis, examining the possible marketing mix, and identifying and evaluating different market entry strategies and selecting the best that will fit lime scooter app.
Part 2: A Cross Cultural Analysis