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With the globalisation of markets, the tastes and preferences of consumers world-wide are
- a)Becoming similar to the tastes and preferences of American consumers.
- b)Being encouraged by multinational organizations to become increasingly similar.
- c)So different that they can be ignored by international organizations.
- d)Converging upon a global norm.
Correct answer is option 'D'. Can you explain this answer?
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Most Upvoted Answer
With the globalisation of markets, the tastes and preferences of consu...
Globalisation and Consumer Preferences
Globalisation is the process of the world becoming more interconnected through the flow of goods, services, capital, and information across national boundaries. With the rise of globalisation, the tastes and preferences of consumers worldwide have been impacted significantly.
Convergence of Consumer Preferences
The answer to the question is option 'D', which states that consumer preferences are converging upon a global norm. This means that the tastes and preferences of consumers worldwide are becoming more similar, regardless of their location. Several factors have contributed to this convergence, including:
1. Increased Exposure to Global Brands: Due to globalisation, consumers worldwide have access to global brands, which have become more prevalent in different parts of the world. This has led to consumers becoming more familiar with global brands and their products, leading to increased demand for these products.
2. Cultural Exchange: Through the exchange of cultures, consumer preferences are becoming more similar. Cultural exchange has been facilitated by globalisation, which has made it easier for people to travel, communicate, and access information from different parts of the world.
3. Technological Advancements: The development of technology has enabled globalisation to take place, and it has also contributed to the convergence of consumer preferences. Technology has made it easier for people to access products and services from different parts of the world, leading to increased demand for these products.
4. Standardisation: Multinational corporations often standardise their products and services to appeal to a global audience. This standardisation has contributed to the convergence of consumer preferences worldwide.
Conclusion
In conclusion, the tastes and preferences of consumers worldwide are becoming more similar due to the convergence of various factors. As the world becomes more interconnected, globalisation will continue to impact the preferences of consumers, leading to further convergence.
Globalisation is the process of the world becoming more interconnected through the flow of goods, services, capital, and information across national boundaries. With the rise of globalisation, the tastes and preferences of consumers worldwide have been impacted significantly.
Convergence of Consumer Preferences
The answer to the question is option 'D', which states that consumer preferences are converging upon a global norm. This means that the tastes and preferences of consumers worldwide are becoming more similar, regardless of their location. Several factors have contributed to this convergence, including:
1. Increased Exposure to Global Brands: Due to globalisation, consumers worldwide have access to global brands, which have become more prevalent in different parts of the world. This has led to consumers becoming more familiar with global brands and their products, leading to increased demand for these products.
2. Cultural Exchange: Through the exchange of cultures, consumer preferences are becoming more similar. Cultural exchange has been facilitated by globalisation, which has made it easier for people to travel, communicate, and access information from different parts of the world.
3. Technological Advancements: The development of technology has enabled globalisation to take place, and it has also contributed to the convergence of consumer preferences. Technology has made it easier for people to access products and services from different parts of the world, leading to increased demand for these products.
4. Standardisation: Multinational corporations often standardise their products and services to appeal to a global audience. This standardisation has contributed to the convergence of consumer preferences worldwide.
Conclusion
In conclusion, the tastes and preferences of consumers worldwide are becoming more similar due to the convergence of various factors. As the world becomes more interconnected, globalisation will continue to impact the preferences of consumers, leading to further convergence.
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Community Answer
With the globalisation of markets, the tastes and preferences of consu...
Some differences in tastes will always remain among people of different nations, but with the tremendous improvement in telecommunications, transportation, and travel, the cross-fertilization of cultures and convergence of tastes can only be expected to accelerate. Consumer preferences are considered one of the key parameters on basis of which marketing strategies are devised.
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With the globalisation of markets, the tastes and preferences of consumers world-wide area)Becoming similar to the tastes and preferences of American consumers.b)Being encouraged by multinational organizations to become increasingly similar.c)So different that they can be ignored by international organizations.d)Converging upon a global norm.Correct answer is option 'D'. Can you explain this answer?
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