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Topics Discussed in Class - My Participation in Class - Assignment Example
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Topics Discussed in Class Name: Institution: Topics Discussed in Class My Own Research One element of globalisation is the convergence of income, technology and media. New-fangled technology would lead to homogenisation of consumer needs since consumers were expected to fancy standard products of low price, but high quality…
As consumer earnings converge across nations, the manifestation of value differences will turn into a much stronger factor than expected. This happening makes it increasingly significant to comprehend values of nationwide cultures along with their impact on consumer behaviours and action. Retailing plans for one nation cannot be extended to other nations without adaptation. During my own research, I focused more on the convergence and divergence in consumer behaviour. Basically, a firm has to come up with sells techniques that meet with the limitations of their consumers in a particular market. For instance, when setting the price of a commodity, it is vital for a firm to ensure that the commodity is priced according to the consumer it targets. This means that factors such as consumer income or needs will dictate how much an asset could be priced by an organisation. Presenter 1: Main Arguments Marketers should endeavour to abide by each and every country’s regulations and laws. They should also make efforts to keep up with the regulations and laws, which change frequently and, finally, clarify ambiguous regulations, which concern their activities (Stock & Lambert, 2008, 35). Presenter 1 basically focused on the socio-economic, political, legal and regulatory environments that concern a business. ...
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