Introduction
Businesses must consider the cultural ramifications of marketing internationally as they seek to expand into new markets (Luo & Tung, 2007). Glimmer may find it challenging to enter a new market, such as Malaysia, given how important the jewelry industry is as a global cultural artifact. There are many different ethnic groups in Malaysia, including Malays, Chinese, and Indians, each with distinctive cultural practices and religious beliefs (Encyclopedia Britannica, 2022). This essay examines cultural nuances and market entry tactics that Glimmer should consider when entering the Malaysian market, with a particular emphasis on the potential growth of the jewelry market among men or kids.
With a population of over 33 million, Malaysia is a multiracial and multicultural nation (World Bank, 2022). Islam is the predominant religion in the nation, and its impact may be seen in its customs, practices, and attitudes toward particular goods. For instance, Islamic law prohibits men from wearing gold jewelry except for a simple wedding band. Therefore, Glimmer may need to change its marketing strategy to appeal to women, or it may decide to concentrate on silver or other metals that are acceptable for males to wear. In order to avoid offending the Muslim people, the usage of religious symbols or themes in jewelry design must be done sensitively. The significance of gift-giving in Malaysian society is another cultural factor to consider, particularly during holidays and special occasions like weddings and birthdays (Othman et al., 2005). Given that Glimmer has determined that the peak gift-giving seasons are Christmas and birthdays, they might adjust their marketing strategies to coincide with Malaysian celebrations like Hari Raya or Deepavali. Glimmer may be able to develop a more robust presence in the industry if they comprehend the significance of these events and incorporate them into their marketing initiatives.
Additionally, Malaysians’ purchasing power differs by geography and ethnicity (Khalid & Yang, 2021). For instance, the Malay community values modesty and practicality, while the Chinese groups tend to have more significant disposable money and are passionate buyers of luxury items (Khalid & Yang, 2021). To satisfy the various demands and tastes of the Malaysian market, Glimmer’s pricing strategy and product line should consider these variations. The firm can think about presenting several collections or designs to cater to diverse demographic groups. Finally, Glimmer must take into account the distribution options in Malaysia. Online shopping is becoming more popular in Malaysia, yet it is still a new idea compared to physical storefronts. Glimmer may consider collaborating with regional wholesalers and retailers to market their goods in Malaysia. Additionally, pop-up shops may be considered to attract a more extensive consumer base during the busiest holiday seasons. In conclusion, Glimmer must carefully examine cultural differences before entering the Malaysian market. The company’s marketing tactics and product line must be modified per the population’s religious and cultural sensitivities. By doing this, Glimmer might forge a significant market position and cater to the rising demand for jewelry among Malaysian men and kids.
Marketing Entry Plan
Given GLIMMER’s online presence and lack of physical stores, an internet distribution channel would be the most practical way to join the Malaysian market. The business should consider collaborating with well-known e-commerce sites like Shopee, Lazada, and Zalora to market its goods in Malaysia. Young adults, GLIMMER’s target market, are drawn to these platforms since they are prevalent in the Malaysian market and well-liked by them (Kathryn, 2022). Although e-commerce in Malaysia is still in its infancy, Glimmer needs to be mindful that some customers may choose to buy from physical stores (International Trade Administration, 2022). Glimmer must therefore spend money on a website targeted to the Malaysian market, accepts local payment options, and offers quick and dependable shipment.
To appeal to the regional market, GLIMMER must tailor its marketing plans. For instance, given that astrology has a big following in Malaysia, they might provide a wider selection of jewelry items based on the zodiac. They could also collaborate with a local distributor or shop that is used to operating in Malaysia and is conversant with the tastes of the populace there (International Trade Administration, 2022). This tactic can assist Glimmer in overcoming any linguistic and cultural hurdles while allowing it to take advantage of its partner’s local expertise. Another potential market entry method is establishing a physical presence in Malaysia by opening physical stores or pop-up shops in busy areas. By employing this tactic, Glimmer may increase consumer trust, raise brand exposure, and allow customers to try on jewelry before purchasing. However, this tactic also necessitates considerable time, financial, and resource commitment.
Conclusion
In conclusion, Glimmer must carefully evaluate cultural variances and market entry methods before entering the Malaysian market. The company’s marketing tactics and product line must be modified per the population’s religious and cultural sensitivities. Additionally, Glimmer must comprehend the purchasing power of Malaysians in order to modify its price policy and product offering. By doing this, Glimmer will be able to forge a significant position in the Malaysian market and meet the rising demand for jewelry among men and kids.
References
Encyclopedia Britannica. (2022). Malaysia – People. https://www.britannica.com/place/Malaysia/People
International Trade Administration. (2022, November 23). Malaysia – Market entry strategy. International Trade Administration | Trade.gov. https://www.trade.gov/country-commercial-guides/malaysia-market-entry-strategy
Kathryn. (2022, September 14). Top Southeast Asia ecommerce companies: Shopee, Lazada, and Co. Kathryn Read. https://kathrynread.com/top-southeast-asia-ecommerce-companies-shopee-lazada-and-co/
Khalid M. and Yang L. (2021, August 16). Income inequality among different ethnic groups: The case of Malaysia. LSE Business Review. https://blogs.lse.ac.uk/businessreview/2019/09/11/income-inequality-among-different-ethnic-groups-the-case-of-malaysia/
Luo, Y., & Tung, R. L. (2007). International expansion of emerging market enterprises: A springboard perspective. Journal of international business studies, pp. 38, 481–498. https://link.springer.com/article/10.1057/palgrave.jibs.8400275
Othman, M. N., Ong, F. S., & Teng, A. (2005). Occasions and motivations for gift-giving: A comparative study of Malay and Chinese consumers in urban Malaysia. Asia Pacific Management Review, 10(3), 197-204. http://eprints.um.edu.my/25038/
World Bank. (2022). Malaysia. World Bank Open Data | Data. https://data.worldbank.org/country/MY
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