MGMT WK1 Cultural values in financial

WK1

Cultural Values

The core expressions of culture that influence perception, attitudes, and behaviors in advertising and other communication forms.

Financial Services Advertising (FSA)

Advertising specifically related to financial products and services offered by banks and financial institutions.

Collectivism

A cultural value that emphasizes the needs and goals of the group over the individual, often seen in Eastern cultures.

Individualism

A cultural value that emphasizes personal independence and self-reliance, often associated with Western cultures.

High-Context Culture

A culture in which communication relies heavily on contextual cues and interpersonal relationships rather than explicit verbal expression.

Low-Context Culture

A culture that relies on explicit verbal communication, where words hold the majority of meaning and context is less important.

Human Model Presence

The use of human figures, including celebrities, in advertisements to convey symbolic meanings and evoke emotions.

Time Orientation

The focus of a culture on the past, present, or future, impacting consumer behavior and marketing strategies.

Celebrity Endorsement

The use of famous personalities in advertising to promote a product or service, leveraging their influence to enhance appeal.

Cross-Cultural Study

Research that compares cultural values and practices across different countries or cultures to understand their differences and similarities.

Cultural Frameworks

Conceptual tools, such as Hofstede’s individualism/collectivism dimension, used to understand and analyze cultural differences.

Advertising Effectiveness

The ability of an advertisement to achieve its intended effects, such as influencing consumer attitudes and behaviors.