From the course: Global Marketing: Expand the Reach of Your Product and Service Offerings
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Assess social and technological standards across countries
From the course: Global Marketing: Expand the Reach of Your Product and Service Offerings
Assess social and technological standards across countries
- [Instructor] Now let's dive into the social and technological factors in a PESTLE analysis. Doing your analysis of the social factors is important because, as we learned earlier, while there is an emerging trend toward a global mindset across consumers, regardless of their home country, you still need to pay attention to the nuances of the society in the new market. For example, religious beliefs can vary across regions within a country. The social factors relate to societal norms, demographics, and cultural aspects that affect consumer needs and market sizes. More specifically, the demographics that commonly matter are age distribution, population growth rates, and migration trends. Cultural norms and values are things like social attitudes, lifestyles and cultural trends that influence consumer behavior. Meanwhile, education levels impact labor quality and consumer sophistication. It's also important to look at public health concerns and safety standards. Lastly, the ability of…
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