Question

The continuing persistence of ___ differences between nations acts as a major brake on any trend toward ____ of consumer tastes and preferences.
a. technological and industrial, standardization
b. institutional and political, globalization
c. cultural and economic, standardization
d. technological and industrial, globalization
e. institutional and political, standardization

Answer 1

The continuing persistence of cultural and economic differences between nations acts as a major brake on any trend toward standardization of consumer tastes and preferences.

What is standardization ?

• Standardization of consumer tastes and preferences refers to the process of convergence or homogenization of consumer preferences, whereby consumers in different regions or countries tend to prefer similar products and brands.

• This can be driven by a variety of factors, including globalization, technological advances, and changes in cultural and economic conditions. Standardization of consumer tastes and preferences can have both positive and negative consequences.

• On the positive side, it can lead to increased efficiency and competitiveness in the global marketplace, as companies can take advantage of economies of scale by producing and marketing similar products to consumers around the world.

• It can also lead to increased choice and convenience for consumers, who have access to a wider range of products and brands.

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