Overview
Cultural influences on consumer preferences are crucial for understanding how individuals make purchasing decisions. Culture encompasses the shared values, beliefs, and practices that shape consumer behavior, leading to diverse preferences across different societies. Marketers must recognize these c...
Key Terms
Example: In some cultures, collectivism is valued over individualism.
Example: Understanding why consumers prefer local products.
Example: Segmenting by age, income, or cultural background.
Example: Power distance and individualism vs. collectivism.
Example: Luxury brands position themselves as exclusive.
Example: Gift-giving customs vary widely across cultures.