ex Flashcards
Change in Consumer Needs
single-use plastic to sustainable materials. (material)
plastic bottle — stainless steel
With the increasing awareness of environmental issues, more consumers are looking for eco-friendly products, leading to a rise in sustainable fashion brands that use recycled materials.
Weight
Before: Heavy, bulky laptops.
After: Lightweight, ultra-thin laptops
for better portability and convenience.
Increasing Competition
The streaming service industry is highly competitive with companies like Netflix, Disney+, and Amazon Prime Video constantly adding new content and features to attract subscribers.
Changes in Technology
The development of artificial intelligence (AI) has transformed many industries, from healthcare with AI-powered diagnostics to retail with personalized shopping experiences.
Diversification of Risk
Geographic Diversification: By investing in different countries, you can lower the risk of losing money if one country’s economy or politics has problems. For example, you can invest in both U.S. stocks and stocks from other countries like Japan or Germany. This way, if the U.S. market goes down, your investments in other countries can help keep your overall investment safer.
Utilization of Excess Capacity
A hotel with empty rooms during the off-season might offer discounts or special packages to attract guests and make use of the available space
Goodwill and Reputation
A tech company like Apple has built a strong reputation for quality and innovation, which helps it maintain customer loyalty and attract new customers.
Seasonal Fluctuations
Ski resorts experience high demand during the winter months when people want to go skiing, but much lower demand in the summer.
Growth and Development
samsung - smartphones, tablets, televisions, and home appliances.
Diversification of Risk (Examples)
Automotive Company: Producing electric vehicles, motorcycles, and bicycles.
Food and Beverage Company: Producing bottled water, juices, and snacks.
Clothing Brand: Expanding to men’s, children’s clothing, and accessories.
Tech Company: Creating hardware products like laptops and smartwatches.
Agricultural Business: Planting soybeans, wheat, and vegetables.
Changes in Technology (Examples)
Blockchain: Secure digital ledger for cryptocurrencies and supply chain tracking.
3D Printing: Creating three-dimensional objects from digital designs.
Quantum Computing: Using qubits for powerful problem-solving.
Augmented Reality (AR): Adding digital elements to the real world.
Biometric Authentication: Using physical traits for identity verification.
Smart Agriculture: Using sensors and drones for efficient farming.
Wearable Health Tech: Tracking health data with smartwatches.
Voice Assistants: Controlling devices and getting information via voice commands.
Changes in Consumer Needs (Examples)
Health and Wellness: Demand for organic foods and natural skincare.
Convenience: Preference for time-saving services like meal delivery.
Sustainability: Choosing eco-friendly products.
Personalization: Products tailored to individual preferences.
Digital Services: Higher demand for streaming, online education, and telehealth.
Local Products: Preference for locally sourced products.
Experience Over Ownership: Spending on experiences rather than things.
Financial Products: Need for flexible and secure financial products.
Utilization of Excess Capacity (Examples)
Makingg car parts for other companies or producing electric cars.
Hotel: Offering discounts, hosting events, or partnering with travel agencies.
Printing Company: Taking on extra jobs or offering custom printing services.
