IMPLEMENTATION OF CROSS-CULTURAL MARKETING MODELS INTO THE CONCEPT OF BEHAVIORAL ECONOMICS

Abstract

Abstract. Behavioral economics considers deviations from rationality caused by cognitive biases, emotions and social factors. Cross-cultural marketing, thanks to a deep understanding of the cultural context, ensures the relevance, effectiveness and ethics of marketing campaigns in a global environment. The implementation of cross-cultural marketing models and tools in the concept of behavioral economics, the effective combination of their methodology allows developing and implementing marketing strategies in a global business environment, considering the glocalization trends of its functioning. The purpose of this article is to find common ground, implement cross-cultural marketing tools and approaches to rational and irrational behavior, studied in the concept of behavioral economics, into practice. It has been established that the combination of these two areas allows optimizing marketing strategies, adapting them not only to cultural characteristics, but also to psychological mechanisms of influence on consumer choice. Behavioral economics provides a powerful tool for influencing consumers. Key concepts, including bounded rationality, heuristics, prospect theory, and cognitive biases – the anchoring effect, the framing effect, and others – play a significant role in shaping decisions. The practical application of behavioral approaches in cross-cultural marketing is manifested in the adaptation of all elements of the marketing complex. Considering ethical aspects requires abandoning stereotypes and overcoming cultural biases to build trust with consumers. The synthesis of behavioral economics and cross-cultural marketing opens new opportunities for creating effective, culturally relevant, and ethically responsible marketing strategies.