A Quote by Martin Feldstein
An increase in the relative price of products from the low wage manufacturers in Asia and Latin America will also make those products less attractive to American consumers.
Related Quotes
Consumers will purchase high quality products even if they are expensive, or in other words, even if there are slightly reasonable discount offers, consumers will not purchase products unless they truly understand and are satisfied with the quality. Also, product appeal must be properly communicated to consumers, but advertisements that are pushed on consumers are gradually losing their effect, and we have to take the approach that encourages consumers to retrieve information at their own will.
The naturally colored products aren't as bright as the synthetically colored products, they're not as attractive to consumers. But, you know, it's the kind of thing that consumers simply would get used to very quickly.
It used to be that American and European companies built their products in low-wage countries, separated by great distances from the innovators who developed the products and the markets where they were sold. But companies increasingly find that is an outmoded way of doing business.
Fairly or not, Western consumers associate Chinese products primarily with 'low price.'
Consumers have zero time for products that are not simple, intuitive, and attractive to use. This is especially true with Internet products, where clean and useful design is a prerequisite to keeping anyone on your site for more than 30 seconds.
Expose yourself to the products and promotions of other manufacturers, and your own field of new ideas will greatly increase.
We want to help U.S. entrepreneurs, small business owners, and brands and companies of all sizes sell their goods to the growing Chinese consumer class. Chinese consumers will get to buy the American products they want. This, in turn, will help create American jobs and increase U.S. exports.
The biggest challenge is that when people look at low price point products, they essentially invest less money in development, innovation, and new technology. And in order to innovate at a lower price point, and make sustainability attainable to the masses, you have to invest more. But that's counterintuitive for a lot of businesses.
With open markets, the nation's trade deficit with China would shrink as we export more natural gas and agricultural products and as China's consumers could afford to buy their preferred 'Made in America' products.
You can find a product and be aware of all the other products out there in just seconds. That's a very attractive method for companies and consumers. At the same time, it also creates a lot of competition.
Between two products equal in price, function and quality, the one with the most attractive exterior will win.
Microsoft has had its success by doing low-cost products and constantly improving those products and we've really redefined the IT industry to be something that's about a tool for individuals.
Foreigners have a complex set of associations in their minds when they think of America - from Iraq to 9/11, certainly, but also from Coke to jeans. It is entirely possible for people around the world to love American products, American books, American movies, American music, and dislike the policies of the government of America.
The best American manufacturers customize products to meet customer needs, reduce the time required to make them and constantly improve their design.
I don't see why OPEC countries should continue to cut production just to keep the price of oil high. This will not affect the industrial countries alone, it will also hit poor countries in Africa, Asia and Latin America. Who will look after them?
American products are better than the Chinese. We do a better job. We make better products. But because the currency is so low versus the dollar versus other things, and so much lower than it should be, it's very hard to compete for our companies.
Related Authors
Adam Smith Quotes
Scottish
Economist
Alan Greenspan Quotes
American
Economist
Benjamin Graham Quotes
American
Economist
Friedrich August von Hayek Quotes
Austrian
Economist
John Kenneth Galbraith Quotes
American
Economist
John Maynard Keynes Quotes
English
Economist
Joseph Stiglitz Quotes
American
Economist
Ludwig von Mises Quotes
Austrian
Economist
Milton Friedman Quotes
American
Economist
Muhammad Yunus Quotes
Bangladeshi
Economist
Murray Rothbard Quotes
American
Economist
Paul Krugman Quotes
American
Economist
Richard Thaler Quotes
American
Economist
Robert Reich Quotes
American
Economist
Thomas Sowell Quotes
American
Economist
Walter E. Williams Quotes
American
Economist