Question

In what ways has globalization influenced consumer behavior and preferences?

1. It has fostered the preservation of local consumer preferences, limiting global influence.
2. It has led to the standardization of certain products and cultural experiences globally.
3. It has facilitated the spread of global brands and consumer culture worldwide.

• A. i, iii
• B. ii, iii
• C. None of these
• D. iii only

Answer 1

Answer:

B. ii, iii

Influence of globalization on consumer behavior and preferences:

• Standardization of products and cultural experiences:
• • Globalization has led to the standardization of certain products and cultural experiences, making them globally accessible and uniform across different regions.
• Spread of global brands and consumer culture:
• • The interconnectedness fostered by globalization has facilitated the spread of global brands and consumer culture, allowing international products and practices to become prevalent worldwide.
• Overshadowing of local preferences:
• • Local consumer preferences have sometimes been overshadowed by the dominance of international brands and products, leading to a decline in the prominence of traditional and local products in some markets.
• Homogenization of consumer tastes:
• • Globalization has resulted in the homogenization of consumer tastes to some extent, as the prevalence of global brands and standardized products has diminished the diversity and uniqueness of local consumer preferences and traditions.