Question

(Strategic Planning/Management)

1. Explain why consumption patterns are becoming similar worldwide. What are the strategic implications of this trend?

2. What are the major differences between U.S. and multinational operations that affect strategic management?

3. Why is globalization of industries a common factor today?

Answer 1

Q. 1) Consumption pattern is the income level and expenditure pattern of an individual on the basis of foods, clothes, and other things which can fit all the needs.

Due to the fast improvement of technology, it allowed internet to increase the global communication across the world, which has somewhat linked the consumers. As the entire world is getting connected more and more with a high influence of social media, it helped a lot to exchange culture and traditions of people from one part of the world to another. So, this helped the marketers to advertise similar type of marketing, show similar news and more or less similar techniques to target the consumers. Also, with the growing trends of globalization, the cultures are being mixing together and bringing the same form of entertainment which lead the consumers to choose similar type of things for their basic needs. As a result, the choice, taste and preference of the consumers from all over the world are merging together and thus this leads to have a similar consumption patterns worldwide.

Hope this helps :)