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badm 320 ch 5.docx
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Page 3
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Efficient utilization and distribution of food
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Food has always defined social trends that are central to people’s
lives and environments
-
Food deserts:
areas and neighborhoods in which consumers have
limited or no access to healthy, affordable food
-
Technological advances
-
Mobile devices enhance customers’ experience by making it easier to
interact with the retailer
-
Artificial intelligence
-
Rely on computer systems to perform tasks that require human
intelligence
-
ex) search assistant
-
Robotics
-
Robots are entering the marketplace and performing work that was
previously done by humans
-
Frees up human associates to help customers
-
Internet of things (IoT):
when multiple smart devices combine data to
perform more efficiently
-
Delivers insightful data to retailers and manufacturers that they can
use to optimize inventory
-
Privacy concerns
-
Consumers are sensing a loss of privacy
-
Online marketers place cookies on the user’s computer and allows
them to see what the user is doing on the website
-
Economic situation
-
Inflation:
refers to the persistent increase in the prices of goods and
services
-
The dollar buys less than it used to
-
Foreign currency fluctuations can influence consumer spending
-
Interest rates:
represent the cost of borrowing money
-
political/legal environment
-
Comprises political parties, government organizations, and legislation and
laws
-
Organizations must fully comply with any legislation regarding fair
competition, consumer protection, etc.
-
Legislation has also been enacted to protect consumers in many ways
-
Responding to the environment
-
The marketers that succeed are the ones that respond quickly, accurately,
and sensitively to their consumers
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