Hofstede’s Individualism Predicts Retail Trade Development During the Crisis
Discussions of the causes and consequences of the crisis (see for example: Mandel, 2008; Bogoslaw, 2009; Damast and Macsai, 2008) conspicuously omit the issue of national culture. On the other hand, marketing theory (Robertson, Zielinski and Ward, 1984; Nicosia, 1964; Blagoev, 2003, to mention only a few sources) has claimed for decades that consumer behavior is mostly influenced by social, cultural, and psychological factors. We believe that cultural differences can explain some observed national differences in consumer behavior during the ongoing crisis. In turn, consumer behavior can be used to predict which countries will overcome the crisis earlier. This prediction is of great interest to the real business, because common wisdom does not always lead to meaningful conclusions. For example, it is quite reasonable to expect that the countries (economies) that experienced the most negative effects of the financial crisis and were the first to experience an economic crisis as well would have the highest drop in retail sales. Economies that did not suffer a direct financial crisis - there were no bankruptcies of financial institutions, no high budget deficit, etc. - would normally be expected to suffer weaker effects of the economic crisis. Inthis paper we analyze if these common wisdom expectations hold true
Year of publication: |
2011
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Authors: | Blagoev, Vesselin Ivanov |
Other Persons: | Minkov, Michael (contributor) |
Publisher: |
[2011]: [S.l.] : SSRN |
Saved in:
freely available
Extent: | 1 Online-Ressource (5 p) |
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Type of publication: | Book / Working Paper |
Language: | English |
Notes: | Nach Informationen von SSRN wurde die ursprüngliche Fassung des Dokuments 2009 erstellt |
Other identifiers: | 10.2139/ssrn.1737351 [DOI] |
Source: | ECONIS - Online Catalogue of the ZBW |
Persistent link: https://www.econbiz.de/10013131656
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