Economics of Individualism and Collectivism Essay

At the cultural scale, the individualism-collectivism component refers to how one regards the person in relation to the collective. Individualist cultures (the United States, the United Kingdom) prioritize success and recognition. In turn, collectivist societies (Mexico and China) promote family stability, responsibility, and adherence to cultural standards. Individuals may experience normative pressure to adhere to the ideals of collective ingroups, which is an essential component of collectivism (Mai, Ketron and Yang, 2019). In collectivist civilizations, ingroups comprise close-knit groups. Individualist cultures’ ingroups are loosely linked communities (social class, for instance). Individuals in a collectivistic culture are more likely to engage in joint activities, worry about common interests, and feel pressured to adhere to established ideas and subdue personal ambitions to collective aims.

A significant example of how a global corporation utilizes the described concepts is the advertising approach of Coca-Cola. In particular, its advertisements are designed a way that seems to appeal to the best practices of both individualism and collectivism in the United States. However, it should be mentioned that the company admits the fact that the US is an individualist country, and most of its communication strategies are founded on this condition. For instance, the Taste-the-feeling ad in American culture refers to how Coca-Cola fosters deep ties amongst individuals who are in an incredibly relaxed condition. It is visible from the fact that in the US, the ad presents plenty of individuals in the clip.

Moreover, in the US, there is an opportunity to customize Coca-Cola in the Share a Coke campaign framework. A person can purchase a product with a specific phrase or name written on it (Crawford, Brennan and Parker, 2017). This is a pure manifestation of an individualist approach in terms of the company’s integrated marketing communications. Still, Coca-Cola appeals to collectivism in its strategy as well, which is visible in the following. The corporation has a segment called “Coca-Cola local tastes” that involves “Georgia peach” and “California raspberry” (Coca-Cola Company, no date). These imply that the mentioned tastes reflect cultural peculiarities of communities that exist in Georgia and California. Within the international scope, the corporation uses collectivism to a greater extent if appropriate – in China, for example. Thus, given that the company demonstrates continuous growth and development within the US market, it might be assumed that its mix of individualism and collectivism related to integrated marketing communications is appropriate.

Reflections

During our work in the group, there was a necessity to fully turn to the distance format, given the current conditions of the pandemic. It should be noted that initially, a number of issues hindered the smoothness of the process and cooperation as a whole. However, after a few days, we were capable of doing the required tasks promptly and efficiently. The group quickly adapted to the unusual circumstances and did its best to accomplish the set of goals.

In particular, during this assignment, I figured out several useful tools that allow working in the framework of the virtual setting in which we were involved. Then, this task made me learn how to work with primary and secondary sources at an advanced level, cooperate with my groupmates only through online platforms, and apply the relevant materials to a certain case of Coca-Cola. My primary contribution to completing the assignment is the research I conducted in terms of the Coca-Cola campaign in US from the individualism’s perspective. This made it possible to assess the strategy in the country coherently and consistently.

At this point, I would like to notice that, most often, a predictable and calm atmosphere reigns at home. During our distance work in the group, I developed my own rhythm and adhered to it without additional worries. Methodologically strong discussions and work with colleagues on special learning platforms transparently showed me a picture of which subjects I was good at and where there were significant gaps. The virtual setting has also removed many of the routine tasks, reducing my overall stress levels. Thanks to saving time on logistics, I have free time for other activities.

There are a number of tools that make virtual settings interactive and efficient. For example, a format such as webinars contains many opportunities for the successful exchange of information and ideas. The chat allowed our group to communicate in real-time with the teacher, and thanks to the “show screen” function, graphs, tables, and the work of the necessary programs were visually studied. However, to a greater extent, the effectiveness of virtual settings is associated with the independent study of materials – at a convenient pace and mode, without pedagogical pressure and strict limits, with the possibility of using modern tools and electronic libraries. The virtual setting is a great opportunity to achieve the necessary goals in a convenient and accessible format. The process was flexible and adaptive; all the necessary materials and manuals were laid out online or sent by e-mail. We could consult, participate in group discussions and ask questions to each other using instant messengers and special online platforms.

Reference List

Coca-Cola Company (no date) Coca-Cola local tastes.

Crawford, R., Brennan, L. and Parker, L. (2017) Global advertising practice in a borderless world. New York: Routledge.

Mai, S., Ketron, S. and Yang, J. (2019) ‘How individualism–collectivism influences consumer responses to the sharing economy: Consociality and promotional type’, Special Issue: The sharing economy: Psychological mechanisms that affect collaborative consumption, 37(5), 677–688.