The rise of the Indian and Chinese economies. prospects and potentials Essay

The rise of the Indian and Chinese economies. prospects and potentials - Essay Example In this paper prospects of these two future economic giants will be discussed along side with their potential to grow. The many factors that make these two countries future contenders for economic supremacy will also be elaborated. Immediately after the 1949 revolution the economic policies of China were set aiming at lowering consumption and increasing the process of industrialization. With lower expenditure the economy was able to make more and more factories. In 1978 agricultural sector was reformed and private sector was also allowed to function for the first time in China. These economic policies are said to be the major contributor towards the success of Chinese economy. The process of privatization in China has also increased the overall economic activity of the country. The story of India is not very different China. After independence Indian economy was characterized by extremely protectionist policy. But the policy of liberalization took effect in 1990’s and after that the economy has shown great prospect. Experts name India as the next big economic giant after China. The growth that India has taken in the last decade of 20th century and in the early 21st century is amazing. The rapid industrialization taking place in the two countries have made their economies so strong that there future is prosperous. The potential of the two countries is great. China is the world’s largest exporter. Its growth in the previous 30 years has been 9.5 percent. India is also known as the second largest growing economy of the world. So the prospects are great for the two economies. Chinese economy actually benefits from it exports. China imports great quantity of goods and after value addition exports at higher profits. It relies on small profit margins and for this reason it is able to export at low prices. This is something which distinguishes China from other economies. China is able to develop industries for which

Consumer experience and Luxury Branding Essay Example | Topics and Well Written Essays - 1750 words

Consumer experience and Luxury Branding - Essay Example   There are various ways in which the consumers experience fashion retail on a global scale. These experiences can either be seen or felt. The first experience is psychological or emotional. Saprikis, Chouliara, and Broekhuizen (2010, p.2) observed that an individual’s purchasing choices are influenced by four major psychological factors, including perception, motivation, learning, beliefs, and attitude. Liu and Forsythe (2010, p.83) illustrate that the intention of the customer to shop is positively linked with the attitude towards purchasing, and affects their decision-making and purchasing behavior. Khitoliya (2014, p.18) argue that perceived usefulness, convenience, and perceived enjoyment are the dominant factors that affect consumer perceptions about a brand. Cao, Xu, and Douma add that enjoyment in intrinsic motivation. When a customer enjoys a product, it impacts positively on the sales of that particular brand. It is equally important to note that when the employees are motivated and satisfied with their job, it translates into a good feeling to the customer since they are able to interact well with the staff and get quality products that make them be satisfied. Schmitt claims that products and services that emerge from the brand’s real soul connect psychologically to the consumers. As a result, it generates emotionally positive experience from the customers. Zara uses emotional client experience of increased self-confidence, self-esteem, and happiness to meet the customer preferences.