Market seeking - When a firm is looking for a considerable market for its products/offers. This can be due to saturation of domestic market or to expand the market.
Efficiency seeking - Firms that are looking for efficiency in different ways like R&D and other infrastructural effects. Efficiencies can also be achieved due to the fact that a certain industry has gathered at a place, creating a beneficial infrastructure, such as Silicon Valley, Philips, etc.
Resource seeking - Firms try to enter into countries to get access to raw materials or other crucial inputs that can provide cost reduction and lower operation costs. For example, investment by most oil companies in the Middle East or textiles and garment companies in India and Pakistan.
All the individuals and households who buy or acquire goods and services for personal consumption make consumer market. Consumers around the world vary tremendously in age, income, education level, and tastes. In today's global world where everything is quite interdependent makes it more necessary to study the consumer behaviour around the globe.
Consumer behaviour for the global market can be studied in the five-stage buying decision process model. This five-step consumer buying procedure begins long prior to the real purchase and prolongs even after the real purchase has been completed.
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