Identifying Opportunities in Economic & Regulatory Trends - Assignment 6A
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Economic Trend #1: Interest Rates Are Rising
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This article describes how the Federal Reserve
wants to increase the Fed Funds rates to about 2 %.
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This opportunity exists to prevent recession. The
increase in interest rates will lead to an increase in the cost of loans
ranging from items such as appliances, furniture, automobiles, and mortgages.
Individuals income may not compensate for this increase; thus, leading them to
spend less. Individuals are moving from spending more money to saving.
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Prototypical Customer: Customers wanting to buy
homes, new cars, furniture, and more. Customers
wanting to save their money.
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This is relatively hard to exploit because most
individuals have the personal choice of spending their own money or saving it
based on this economic trend.
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As a college student interested in purchasing
some of the mentioned items, it is important to know how the increase in
interest rates can benefit or harm me.
Economic Trend #2: Income Inequality in America
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There has been an increase in income inequality
over the past few years in the United States. For instance during the years of
2000 through 2006, poverty in America increased by 15%. Almost 33 million
workers were making less than 20,614 a year. This trend is due to the cheap
labor in China, jobs outsourcing, technology, stagnant minimum wage, and unfair
exchange rates. Income inequality prevents customers from purchasing items they
normally would.
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Prototypical customer: Individuals making less
than $10 an hr. with family members of 4 or more.
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I think that is this opportunity is relatively
difficult to exploit because some factors are inevitable. If the income
inequality continues to increase, customers will be forced to spend less.
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Why did you see the opportunity? I think this
opportunity stood out to me because I will be entering the workforce soon. It
is scary to think that even after getting a degree, there is no certainty that
I could find a job that pays enough to support my family and me.
Regulatory Trend # 1: Emerging Regulatory Trends in Consumer
Healthcare & Cosmetics Industry
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https://www.linkedin.com/pulse/emerging-regulatory-trends-consumer-healthcare-cosmetics-y-yogi-raj
this article talks about how more organizations in the healthcare industry are
trying to improve the quality of their products by backing it up with
scientific studies, justifications, utilizing customer recommendations, and
other regulations.
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There is an opportunity for companies in the
healthcare industry to promote their brand properly. In the past years, it
seems that some customers were skeptical about some healthcare products. This
opportunity combats that.
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Prototypical customer: Anyone consumer in the
healthcare industry. Customers who want scientific prove that a certain product
works.
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I think that this opportunity is harder to
exploit because some products are harder to be back up by scientific studies.
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I am definitely one of those customers who want
scientific prove or justification that a product is cut out to be what it said
to be especially if it is going into my body.
Regulatory Trend #2: Regulating Police Use of Force
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https://www.theregreview.org/2017/02/13/regulating-police-use-of-force/
this article talks about the recent
incidents with police brutality in the United States and the
regulations/measures being taken to control the police force.
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There is an opportunity for the U.S department
of Justice to investigate how police force is being used in these situations.
It is also a way for them to figure out ways to prevent unnecessary police force;
thus, ensuring that the safety of our citizens.
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Prototypical customer: Citizens especially minorities
who are concerned about recent police brutality.
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I think that this opportunity is easier to exploit
because so much awareness has been brought to it. Through social media,
protests, and even the incidents as well has allowed citizens to question the
use of police force.
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As minority, I think that I draw to this opportunity
because it is evident that a lot of these incidents tend to happen within the
minority community. It raises a concern for me because it makes me question my
safety. Is calling the police a safer option for me?
Hi Jess,
ReplyDeleteI agree that income inequality is something to be worried about. It is crazy to think that things haven't changed in this economic sense. I enjoyed your article on regulatory trends on healthcare and the cosmetic industry. It's good to see that regulations are taken seriously for products that go on your body or on your skin.
Hi Jess,
ReplyDeleteYour list of economic and regulatory trends was really nice to read. I agree with what you said about the police brutality in the United States. I think continuous awareness to the problem with help with eliminating the discrimination and the issues with police brutality. This is definitely something that is easy to exploit with the cooperation of people and the belief that spreading awareness can make a difference.
Hi Jess,
ReplyDeleteThe story about income inequality was very interesting to me. As someone who is also graduating soon and will be looking for a job, it is concerning how difficult it can be to support oneself financially. I hope that there are positive changes made in the future, but as you said, it will be fairly difficult to execute because of the various factors. Great work on finding these stories and identifying the opportunities!