Competition between local and foreign products

Topics: Local food, Automobile, Malaysia Pages: 3 (996 words) Published: October 14, 2014
Malaysia with a population roughly 30 million in 2013(Trading Economics,2014) is one of the fastest growing countries in the East. This results from unavoidable phenomena of globalization that bring together global companies becoming one market including in Malaysia. Consumers are presented with a variety of international brands such as Apple, Mercedes-Benz, and Rolex watches. Therefore, it increases the degree competition between domestic and foreign product. Generally, the competition involves three distinct aspects such as the taste and preference, quality and price range.

Foreign and local brands are occupying the local market competitively. Customers’ preferences for both brands differ in some ways and one of it is the brand personality. Aaker, 1996 mentions that customers’ preferences are subject to the emphasis of brand personality. For example, consumers are much more exposed to international brands as these products are intensely advertised globally to make them more recognizable worldwide (Hsieh, 2004). As compared to local labels; which only limited in stores, foreign labels are way desirable. Other than that, customers’ preferences are subject to the location and environment where the products are available. Both local and foreign merchandises have specific places as where to get their products. For example, there are plenty of street stalls offering local foods meanwhile people will have to go to decent places for non-local ones. Customers who prefer more choices will most likely buy local ones. On the other hand, for those who are willing to spend a bit go for non-local ones because of the ambience plus it is more hygienic compared to street foods. Accessibility in which customers can reach those products also plays an important role in assisting consumers’ decision. There is easier access to get local brands compared to foreign brands. For example, customers can just go to their nearby small groceries shops to buy local products. Foreign...
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