The nature of demand is changing because consumers __________. (Select three that apply)
Care more about labor conditions in factories
Care more about brand loyalty
Care more about the environmental impacts of production
Want more customization
Prefer foreign products to locally-produced products
Today’s consumers really care about how things are made. They want to know where a product is sourced, what sort of materials were used, what the environmental impacts are, what the quality of that product might be, and how it might have affected even the nature of the laborers who are making it.
Customers really want a different kind of a relationship with the products that they’re asking for and those relationships are becoming much more complex.
They expect that relationship to go through the provider and connect themselves with the product.
And they want to see products improve in quality and environmental responsibility over time.
And a new generation of consumers is beginning to emerge.
The Baby Boom generated focused primarily on brand loyalty and consistency and an interest in mass production is giving way to the next generation of Millennials, who have a different set of buying preferences. They are much more involved in the way that things are made as I mentioned earlier
And they’re not quite so concerned about brands because they can tailor a brand to meet their needs. They’re interested in what’s in it for them and in terms of a relationship. And they really want to know how they can take a product and customize it to their particular needs as an individual.
And with that change in demands for Millennials is a deep interest in locally designed, produced, and distributed products.