Topic > Economy and Colonialism - 887

The article and text both discuss how low-income people are besieged and vulnerable to marketing strategies. Capitalism is an economic system in which the means of production are privately owned and operated for profit. It has always been the world's systematic way of producing and getting more, but giving up even less. Born in Europe during the 19th century, capitalism has spread throughout the world as far as the United States. Capitalists aim to increase the surplus while decreasing workers' wages. The purpose of capitalism is to exchange goods and services for a profit. However, when limited means do not satisfy unlimited desires, companies create new ways to attract consumers. The strategic target of marketing is poverty-stricken people or a particular group of people who have limited resources but want more. Expansion and revenue allow large companies to overthrow smaller companies and go global (Nowak & Laird, 2010). The colonialism shown in the article and text demonstrated how poverty was seen as a marketing opportunity rather than a social problem. Innovative, socially conscious companies, with no respect for socialism, would assume that marketing to poor people would be more profitable for the economy. Colonialism can strengthen a nation by providing it with another economic market, but at what cost and to whom? The Wall Street Journal explains how McCann World Group believed that although the majority of people in Latin America were low-income, they were the market's best growth opportunity. McCann was willing to spend two million dollars to study their lifestyle to know how to get them to buy more, which would satisfy the consumer, but ultimately benefit the company...... middle of paper.. ....and dangerous and unhealthy. Pollution from factories and unsanitary, overcrowded homes has led to an increase in illness and disease (Nowak & Laird, 2010). The theory of dependency and underdevelopment is most applicable to the expansion of global markets to poor, low-income, and indigenous communities. “When development occurs in one place, underdevelopment occurs elsewhere (Nowak & Laird, 2010. p. 241)”; a process that results in two different results. Works Cited Nowak, B., & Laird, L. (2010). Cultural anthropology. San Diego, Bridgepoint Education, Inc. https://content.ashford.eduRegalado, A. (2007, January 26). Marketers go after low pockets; The low-income pool is seen as an untapped resource; Study in Latin America. Wall Street Journal (Eastern edition), p. B.3. Retrieved April 11, 2011, from ABI/INFORM Global. (Document ID: 1203072741).