Question : Considering all the material you have studied this semester in this course, how will changes in ethnic, sociological and technological factors that make up the United States alter the relative importance of the 4 P’s. What structural changes will business managers have to deal with as a result of these environmental changes and does “capitalism” as we currently practice it have a place in 2050 commerce.
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Friends post: I don’t see this shift in the 4 Ps as having any impact that would alter capitalism and shift towards some other market. The rise in new market segments due to changes in demographics such as the growth of the Hispanic market will cause the product and placement of the product to target that demographic more. Millennials are keen on triple bottom line accounting meaning outside of the bottom line cash flow the social and environmental impact has to be taken into consideration and reflected as being positive. This is driven by the consumer in the free market hence the success of Whole Foods, Toms, Lush, and interface carpet as well as Protor and Gamble have all taken on elements of this new social/environmental accountability.
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