Critical Evaluation on Foreign Products

Added on - Dec 2020

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Foundations of Scholarship and Research
TABLE OF CONTENTSINTRODUCTION...........................................................................................................................1LITERATURE REVIEW................................................................................................................1CONCLUSION................................................................................................................................4REFERNCES...................................................................................................................................5
INTRODUCTIONThere are many companies producing and selling their products in local, regional,national and international markets as well (Why Consumers in Developing Countries PreferForeign Brands: A Study of Japanese Brands in Vietnam, 2018). From the customers ofemerging market and developing country include that foreign products considered to as goodquality. Thus this will be influencing customer buying behaviour in emerging and developingmarket on more foreign products than that of local products. This report will include criticalevaluation onreason behind the foreign products arebetter perceived by emerging marketconsumer that local products.LITERATURE REVIEWAs per the view ofThuy Hang Dao and von der Heidt, (2018)foreign product are thosewhich are produced outside the country and sold in various other nations in way of earingrevenue and profits. On the other hand domestic or local product means that product whosecountry of origin is local market only. Emerging market is that country which is at urge ofgrowth and development within international market with help of their products and services.Thus emerging market is mostly regarded to as those markets which are having potential to sellinternational brands more than any other market. It is introduced that foreign products are moreperceived by emerging markets consumer than local product. This means that customers ofemerging market are more attracted towards international or foreign products than that of theirlocal product market.According to view ofFrimpong, (2011)in one of the study customers of Vietnam whichis developing country prefer Japanese product brands over their domestic brands (WhyConsumers in Developing Countries Prefer Foreign Brands: A Study of Japanese Brands inVietnam, 2018). This process of developing country consumer identified to as 3 main reasonwhich are that of consumer based brand credibility, consumer based country image andconsumer based brand equity. This finding was based on the above mentioned study conductedon 400 Vietnamese consumer with 2 Japanese brands named Honda and Sony using structuralequation modelling (SEM). As perBajaj, (2006)customers’ point of view brand is the credibleand familiar which they are getting to experience in their everyday life so brand will be indicatorfor making decision in buying new products.1
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