Argument for or against the ramifications of buying products from your Research Paper

Argument for or against the ramifications of buying products from your own country - Research Paper Example In relation towards the activities of the consumers, the purchasing decision of a consumer seems to be influential towards the success of a company’s strategy especially in domestic and foreign markets. In addition, consumer liking regarding foreign and domestic products could be influenced by their utmost trust and faith regarding the products and conception of consumer ‘ethnocentrism’ among others (Torres & Gutierrez, â€Å"The purchase of Foreign Products: The Role of Firm’s country-of-origin reputation, consumer ethnocentrism, animosity and trust†). The idea of globalization represents significant challenges and opportunities especially for the marketers and the consumers. The various modernizations particularly in the trade policies have offered more foreign product options towards the consumers’. In this connection, one of the factors that may affect upon the decision of the consumer in order to buy domestic product that is own country’s product or foreign products is consumer ‘ethnocentrism’ (Ranjbarian & Et. Al., â€Å"Consumer Ethnocentrism and Buying Intentions: An Empirical Analysis of Iranian Consumers†). Consumer ‘ethnocentrism’ signifies the universal liking for the people in order to realize their own group as the centre of the world and is defined also as an attitude that one’s own group is superior compared to others (Riefler, â€Å"Advanced Topics in International Marketing†). From the perspective of ‘ethnocentric’ consumers, purchasing products from foreign countries is not useful for them because it weakens the domestic economy, causes lack of employment and considers being disloyal or non-nationalistic among others. In other words, consumer ‘ethnocentrism’ provides an individual a sense of uniqueness, emotion, a proper understanding and feelings of belongingness among others (Shimp & Sharma, â€Å"Consumer Ethnocentrism: Construction and Validation of the CETSCALE†). In the