The Study of the Understanding and Attitudes of Thai and Singaporean Consumers Towards the Asean Economic Community (Aec)
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This research is about the study of the understanding and attitudes of Thai and Singaporean consumers towards the ASEAN Economic Community (AEC) coming around in 2015. AEC is a regional economic integration of 10 countries consisting of Thailand, Brunei Darussalam, Cambodia, Indonesia, Laos, Malaysia, Myanmar, Philippines, Singapore and Vietnam which are diverse economically, culturally and politically. There are 4 mains key characteristics of AEC which are following.
1. A single market and production base
2. A highly competitive economic region
3. A region of equitable economic development
4. A region fully integrated into the global economy.
As a result of differences among member countries, the integration would affect each…show more content… Christiansen, 1999)
4. Work Industry
5. Consumer Ethnocentrism
Consumer ethnocentrism is consumer who primarily captures economic aspects of home country bias, and is based on the desire to protect the own economy. Ethnocentric consumers view purchasing imported products as wrong, because they think it hurts the domestic economy (Peeter W. J. Verlegh, 2007).
6. Consumer Cosmopolitanism
A cosmopolitan consumer orientation manifests when people regard the world as their market place, consciously seeking to consume products, places and experiences originating from cultures other than their own (Cannon and Yaprak, 2002; Urry, 2000).
7. Understanding of AEC
Understanding of AEC refers to understand the economic integration in ASEAN which means to understand economic arrangement between different regions marked by the reduction or elimination of trade barriers and the coordination of monetary and fiscal policies (Investopedia).
Research Scope and Objectives:
Research Scope This research studies about the factors that affect consumer ethnocentrism and consumer cosmopolitanism and also the comparison between consumer ethnocentrism and consumer cosmopolitanismthat impact on the understanding of AEC of Thais and Singaporeans.
• To identify whether Thais and Singaporeans differ in level of consumer ethnocentrism.
• To determine whether people with different income levels have different levels of consumer ethnocentrism.