Yes, and Wrath of the Lick King was designed to make greater inroads into the Scandinavian market. Cataclysm was an obvious attempt to pander to the valuable "natural disaster survivor" demographic. Burning Crusade was clearly meant to appeal to refugees from shattered alien worlds overrun by demons.

Heck, everything in the game is shameless pandering: Worgen are clearly meant to appeal to furries, Gnomes target the lucrative insane mechanic market, and Tauren are meant to appeal to the PETA crowd (since they show a world where cows are recognized as noble sentient beings...)

I can keep going here; you can pair up just about everything in the game with a group of people in the real world it's meant to appeal to: Night Elves? Hippies. Blood Elves? Supermodels. Foresaken? Goths. Trolls? Rastafarians. Goblins? People from New Jersey. Dwarves? Rednecks. (C'mon; beer, guns, and explosives?)

Maybe, just maybe, they went with Pandaria just because it was a cool idea, and something they hadn't done before? Nah, that couldn't be it.