Globalization has brought dramatic changes to the marketplace. A proliferation of global brands brings diverse cultures to a consumer population that is also growing culturally diverse. This course enables students to understand how globalization changes consumers at a psychological level, and provides tools for imbuing brands with cultural meanings—creating iconic brands—that can resonate with global consumers. The focus is on understanding that culture exists in the mind (e.g., values and beliefs) as well as in the environment (e.g., objects, brands, and institutions), and that globalization creates multi-cultural spaces in contemporary societies. Consumers can use the cultural meaning of a brand to build their identities (i.e., assimilate the brand cultural symbolism) or reject the brand’s cultural meaning(s) (i.e., exclusionary reactions).
The course will help students identify when assimilation vs. exclusionary reactions are more likely to occur, as well as devise strategies for imbuing brands with cultural meanings that can elevate them to the status of cultural icons.
Upon successful completion of this course, you will be able to:
• Understand how globalization impacts the psychological responses of consumers in global markets
• Understand what culture is and how it manifests itself
• Understand how brands acquire cultural meanings
• Predict consumers’ responses to the cultural meanings in brands
• Identify strategies to win-over multi-cultural consumers in globalized markets
• Learn how to build an iconic brand
This course is part of the iMBA offered by the University of Illinois, a flexible, fully-accredited online MBA at an incredibly competitive price. For more information, please see the Resource page in this course and onlinemba.illinois.edu.