Question: Convergence is a term you might remember from geometry and is when lines come together to a single point. That convergence in marketing means that
Convergence is a term you might remember from geometry and is when lines come together to a single point. That convergence in marketing means that all the lines meet at the customer and infers that the lines between how one displays a product, promotes it or gets it to the customer are not divisions the customer obsesses about.. The customer just wants what they want. This ecommerce text, though, treats ecommerce as distinct and distinguishes it from brickandmortar commerce, social commerce, etc. While customers recognize differences, their perspective is straightforward: What is optimal for them as a customer?
They dont concern themselves with how businesses manage their businesses.
The truth is that there is one consumer, even though different marketing and distribution models converge to create and improve the consumer experience. While no model can fully convey the complexities of the modern free market economy, it should still be noted that free markets, this marvellous but imperfect structure fueled by the human desire for profit that adapts to serve individual consumers' needs most profitably, provide the best economic growth model for society.
A free market can be compared to democracy. Indeed, it is a flawed and awkward system. However, the collective will and the individual wills of millions of consumers lead to greater prosperity than when a supposedly moral elite usurps decisions about product allocation. Indeed, communism, when attempted, left the th century full of mass graves, oppression, suffering, and poverty.
So convergence happens when distribution methods are profitably adapted to serve the consumer's needs best.
This might mean a brand has brickandmortar stores to support and reinforce its online brand. It also means a situation in which ecommerce, mobile commerce and brickandmortar could converge, bringing elements of distribution and consumer inaction models together. Lim et al writing in the Journal of Retailing and Consumer Services in a Digital News Asia survey, reported that around of consumers prefer using different channels to shop online. Lim
What does the essay say about the free markets?
Question options:
That the individual profit seeking motives of everyone works together to effectively allocate resources
That state control of the means of the production is ideal
Very few customers want a mix of distribution options
That mobile technology will define the future of ecommerce
All the answers are correct
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