Influence Of Globalization On Consumer

462 Words2 Pages
the term globerlization is a complex, diverse and ever changing concept. its complexity makes impossible for there to be a single, generally acceptable definition Globalization is a broad and one of the most prominent conepts that have dominated academics, politics and economic discourse across the world in the last fifty years. It basically refers to the shift from self-contained, national economic and cultural outlook towards a more integrated and interdependent global economic system. While some consider it an inevitable process in our attempt to bring about integration and prosperity around the world, others view it with fear and suspicion insisting that globalization is only a ploy to further impoverish poor nations while guaranteeing further prosperity for the west. Globalization can either be viewed from the macro level of the market or product. Globalization of the market place refers to the merging of historically distinct and seperate markets into one huge global marketplace. Globalization of production on the other hand sourcing of goods and services from locations around the globe to take advantage of national differences in the cost and quality of factors of production like land, labor, and capital. ------------------------------------------------------------------------------------------------------------------- To some scholars, globalization wields a critically important impact on consumers the world over (Cleveland and Laroche, 2007, Gupta, 2012), particularly those in the developing world (----). This influence is thought to be so strong that it results in consumers developing a favourable disposition towards international brands. Closely related to the above explored influence is the issue of consumer acculturation. According to Cleveland and Laroche (2007), consumer acculturation describes the manner in which individuals

More about Influence Of Globalization On Consumer

Open Document