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Questions and Answers
Which of the following is NOT one of the fundamental elements of trends?
Which of the following is NOT one of the fundamental elements of trends?
- Market demand (correct)
- Basic needs
- Drivers of change
- Innovations
What do drivers of change analyze change in terms of?
What do drivers of change analyze change in terms of?
- Shifts and Triggers (correct)
- Market demand and Growth
- Basic needs and Innovations
- None of the above
What is the role of customer-facing innovations in the existence of a trend?
What is the role of customer-facing innovations in the existence of a trend?
- They are not necessary for a trend to exist
- They are important but not necessary for a trend to exist (correct)
- They are the only factor necessary for a trend to exist
- They are the primary driver of trends
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Study Notes
- Trend is a concept with a sustained presence and effect or demand among consumers.
- Three fundamental elements of trends are basic needs, drivers of change, and innovations.
- Basic needs are minimum requirements for a decent standard of life, including food, shelter, clothing, and essential services.
- Drivers of change investigate key global issues and trends driving change in societies and markets.
- Drivers of change analyze change in terms of Shifts and Triggers.
- Innovations refer to changing processes or creating more effective processes, products, and ideas.
- Innovations are catalysts for growth and development.
- Without customer-facing innovations, a trend can't be said to exist fully yet.
- Trends require sustained presence and demand among consumers.
- Trends have a prospect of providing or having a continuing influence for a longer period of time.
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