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Published: 2023-01-19
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Type of paper:  Critical thinking
Categories: Health and Social Care Technology Justice
Pages: 5
Wordcount: 1125 words
10 min read
143 views

Based on the post, it is much easier for a person to understand their role as a consumer. Companies' values have a great influence on how consumers behave on certain products. This action affects their trend and how they engage in the market (Gerzema). Increase in knowledge level among consumers has affected their participation and their purchase mode. In order to influence consumers' values, companies should focus on how to improve the quality of their products.

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Opportunity is a key factor that influences how consumers engage in a purchase. Normally, consumers are trying to utilizing all opportunities which occur in their daily activities to influence their purchase rate. After a long period of misunderstanding and anxiety, consumers have changed their mode of participation (Gerzema). Hence, they have become a key factor which has shaped their action toward spending. Development of technology has been a critical factor which has shaped how consumers find products which best fit their needs. Additionally, technology has helped consumers to understand major opportunities that occur which may affect their spending rate. Additionally, establishing more managerial techniques has helped consumers to engage and participate in various activities despite various challenges. These managerial activities have been a key factor which has shaped people's living standards.

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Consumers' experience has been a critical factor which has influence their spending rate. Due to this knowledge, consumers have become so careful about the kind of products they are purchasing. Additionally, knowledge has influenced consumers to more cautious when engaging in any kind of business. This action reflects the actual ethical practices consumers are reviewing before engaging in any form of a business (Gerzema). Normally, it is essential for consumers to focus on products which are beneficial to people and consumers in order to support ethical practices. Attitude and action toward a certain product are mostly influenced by experience level. Due to ethical demand, companies have been forced to establish openness and transparency when dealing with consumers. This concept can influence consumers' behavior and influence them to use a certain product.

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Personal saving is a key factor that shapes an economy. Through effective saving, a person is given the power to purchase various products which shape their lives. Normally, quality products are expensive, and hence, for a person to sustain their price, one needs to establish an effective saving approach. This action will help people to reduce current negative economic growth. For instance, every person should establish a technique which will help people to save about ten percent of their income. Saving will give people a chance to venture in other activities such as production which is a key factor in economic growth. As such, people will overcome high credit rate which has slowed down economic growth (Gerzema). Due to this concept, companies have started changing their production my creating technique which will aim at attracting consumers to continue purchasing products. For example, reducing the size of a product in order to reduce the price. Technology development has helped companies to introduce other new techniques of production. Reducing the price and changing production techniques has been an effective technique which companies can deploy to change consumers spending.

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The rate at which people spend money influence the economic trend in America. Currently, Americans have shifted to the application of debit card as mode of shopping. This action has been influenced by their carefulness toward spending rate. Due to this fact, consumers have shifted their economic needs from quantity to quality. As such, quality has become a leading factor in their spending rate (Gerzema). Therefore, they are focused on buying products which will give consumers long-lasting services. This would help to overcome some spending rate which would be caused by low-quality products. Additionally, the values of products are other key factors that influence how the spending rate.

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Currently, Americans are showing their success based on their liquidity instead of possessing tangible materials. In this case, consumers have developed a perception that spending money frivolously makes a person to appear anti-fashion. As such, they are demanding empathy and respect to maintain their ethics background. Normally, an organization's ethics and behaviors are key factors that influence the market system which impacts the spending decision. In this case, consumers are looking for a place where their dignity will be catered. This action will help a company to create a good relationship with consumers. Additionally, consumers discriminate products based on their durability (Gerzema). Durability is an effective technique which affects how long a product will stay. In this case, consumers are looking for products which will last longer and avoid purchasing products from time by time. In most cases, the durability of a product is influenced by its quality and materials used. In order to improve the trend, companies need to form a good connection with society and consumers. Therefore, they should encourage transparency and openness among all parties involved. This action will create a good business platform and avoid discrimination which has brought economic crash.

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Development of technology has changed how people engage in their activities. Through this system, people are able to search and understand more about the market trend and other systems which may affect a purchase. This has been an essential information people use to improve their spending rate as technique tries to reduce customers from engaging in unnecessary purchase products. Additionally, technology has played a vital role in the growth of the economy (Gerzema). Normally, technology gives people a chance to venture in other activities such as which act as a source of income. Cash flow among consumers has been a major challenge affecting economic growth. If consumers are reluctant to buy spend on products, automatically they will be a challenge in economic growth. As such, companies should embrace ways on how to influence consumers to spend on products. This aspect helps understand how people can integrate to improve the economy of a place.

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In a product, consumers are so keen looking on quality of product to ensure they purchase durable products. In this case, consumers are looking for a brand which they can trust for their needs. Despite many brands, consumers can only select products which they trust. Consumers have changed their lifestyles and only buying products which will serve them for a long period. As such, companies should focus on improving the quality of products to improve customers' acceptance. Based on the spending rate, consumers create a discrimination platform. In this case, consumers can only buy a certain product based on their taste and preferences. As such, they can align their values which will influence their spending rate (Gerzema).

Work Cited

Gerzema, John. The Post Crisis Consumer. 2009, https://www.ted.com/talks/john_gerzema_the_post_crisis_consumer. Accessed 8 June 2019.

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