Question

Rapidly changing technology and business environments might have impacted each generation differently. Do you believe that each generation has similar needs for products or services? How do economic factors such as a recession or consumers having more money impact the demand and needs of future generations? Does a recession influence the purchasing habits and companies’ marketing and management strategies? How?

Answer 1

The needs ot generation will keep on changin based on the cultural change, economical and technological advanacement. If we are looking at last decade their major needs would be totally different from the current generation. Those times we really in short of electricity, technology etc where now everything is online and technology orietned. Automation, machine learning , nueral networks etc has cmpletely transofrm needs inot analytical requirements.The recession kind od economical stagnation will reduce the spending capability of inidividuals and this will reflect on the business. Thus their diposable income will come down and needs will change from luxury to necessity or survival. Yes recession will definetely impact the purchasign behavior and it will reduce their capabilit to buy anything they want.