Description
Each question is worth 25 points.
Write minimum 2 pages total.
Attach your answers as a word document not a PDF file.
Separate your 4 answers so that it is easy to know where one answer ends and the other one starts.
No need to rewrite the questions in your report.
1 What four main value dimensions according to Hofstede’s theory explain how cultures can vary? List and describe them.
2 Define what psychographics are, and discuss their use and potential limitations in a marketing context.
3 What is the difference between adoption and diffusion?
4 What is cocreation and what are its potential benefits?
Explanation & Answer
please view the answer below
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Exploring Key Concepts in Marketing and Business Strategy.
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Exploring Key Concepts in Marketing and Business Strategy.
Question 1.
According to Hofstede's theory of cultural dimensions, cultural diversity can be explained
by four primary value dimensions. The first is power distance, the extent to which society's
weaker members tolerate unequal power dynamics. Low power distance cultures favor equality
and group decision-making, whereas high power distance cultures typically feature hierarchical
institutions (Benson, McIntosh, Salazar, & Vaziri, 2020). The second is Individualism vs.
Collectivism. Under this, collectivist civilizations value society and institution objectives, while
individualistic ones emphasize personal objectives and freedom.
Masculinity vs. Femininity is the third dimension. In masculine cultures, competition,
ambition, and material fulfillment are valued, while in female cultures, cooperation, q...
