Major Contributions Of Popular Culture

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MACROECONOMICS CIA 3

POP CULTURE AND CONSUMPTION PATTERNS

One of the major results of globalisation has been the spread of popular culture across the globe. Popular culture, often referred to as pop culture refers to the ideas, tastes, customs, behaviours, etc. that are common and accepted by a large percentage of the population. Movies, video content, music, art, fashion, etc. form a part of the pop culture. American popular cuture and Korean popular culture are the most prominent today. The contribution of pop culture to economies is often overlooked and underrated. Popular culture contibutes significantly to the GDP of especially developed economies like the USA and the UK. The industries under pop culture, which significantly contribute to the GDP of …show more content…

The most recent example was the launch of the Kylie Lip Kit, by reality TV star and socialite Kylie Jenner. The entire inventory sold out in the first 16 minutes after the launch. This shows the power and influence that pop culture has on consumption patterns of the masses.

Electronics and Gadgets: The growth of high end electronics and gadgets sector is also influenced by poular culture to a certain extent. For instance, Apple has been the highest selling mobile in the past few years. TV shows and movies show characters using iPhones which then becomes a symbol of social status and class. This has a hand in inducing customers to buy the product. Another example would by headphones from Beats by Dr.Dre. Most consumers buy the product only for the satisfaction of their social and esteem needs and not for the utility derived from the product itself.

Entertainment: The entertainment industry and pop culture are inter-dependent. Pop culture has its root in the entertainment industry and the entertainmnet industry is the outlet through which pop culture thrives. The highest grossing movies and TV shows are determined by the prevailing (popular) preferences of the

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