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Anonymous
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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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Tutor Answer

masterjoe
School: UIUC

Thank you for working with me

Running head: EFFECTS OF CHANGES IN THE BUSINESS ENVIRONMENT ON THE 4PS 1

Effects of Changes in the Business Environment on the 4 Ps
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EFFECTS OF CHANGES IN THE BUSINESS ENVIRONMENT ON THE 4P’S

2

Effects of Changes in the Business Environment on the 4 P’s
It is estimated that by the year 2042, the majority in the US will comprise of ethnic and
racial minorities, with non-Hispanic whites making up the minority. Such a radical ethnic and
consequently sociological shift poses significant implications on the application and relative
importance of the 4P’s.
First, the radical change in the demographic environment and the resulting sociological
factors are bound to result in more emphasis on the 4 Ps in attempts to incorporate the changes in
the same. The resulting ethnic composition, for instance, is expected to alter the composition,
size, and packaging of products and eventually open up previously non-existent niche markets.
Additionally, promotional activities will then reflect th...

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Anonymous
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