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Module 2 (edited) - Essay Example

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With a conservative and a unique cultural background, Thailand is home to several international and foreign brands and has established a good market for buyers. As Thailand flourished at its peak of blooming economy,…
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Module 2 (edited)

Download file to see previous pages... Most of this development was achieved on the abundant natural resources that Thailand homes. What resulted in the end due to the excessive reliance on natural resources, were polluted water, infected air and barren land.
Ever since the economic turmoil, consumers in Thailand have changed their spending habits to deal effectively with the ongoing economic crisis. With the exports already suffering due the global trade slump, Thai was unlucky to experience some very severe political tensions on top.With the governments initiating two new fiscal policies; situation is sighted to improve by far.
A recent survey made use of several closed end questions, which makes comparison easier (Easterby-Smith et al. 2002, pp.78) - has revealed some very fitting information. People have experienced massive salary cuts and many have found themselves jobless in this situation. People have cut their spending budgets, limiting themselves to what is most needed. Most respondents to the questionnaire admitted that Thai people was growing poorer, which was seriously impacting on the lives of the Thai citizens.
As the most important was that over the last decade brand loyalty has been reduced by a very great degree. Buyers have learned to compromise and make their spending more wisely since there is lesser to spend. Brand products are usually tagged at much higher prices than those unbranded, which have resulted in people switching to lower priced articles. This means international and foreign brands have seen a steep decline in their target customers, all of these due to the economic turmoil. Many international brands have adjusted their marketing strategies to appeal to target audiences, such as in the conservative Islamic countries (Karnani, 1984, pp.45).
In studying the consumer expenditure pattern of Thailand, it is important to undertake a compressive analyzing of the ...Download file to see next pagesRead More
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