MKT 402 Consumer Behavior: Ch 1 - Sustainable Development

Flashcards covering key vocabulary from MKT 402 Consumer Behavior, Chapter 1 on Sustainable Development, including UN goals, future food concepts, health, and business's role in social and environmental impact.

Sustainable Development Goals (SDGs)

17 goals aiming to end poverty, improve health and education, reduce inequality, spur economic growth, and tackle climate change.

What are some potential changes and innovations with the likely food challenges of 2050?

Changes in diets (lab grown and plant-based foods) and technology acceptance as a way to address future food challenges.

Entomophagy

The term for consuming insects as food, which is high in protein and embraced by two billion people worldwide (ex: Chirps- cricket chips)

Food Scanners

Technology designed to help consumers identify food allergies.

Nutrigenomics

The use of genetic testing to provide personalized nutrition recommendations.

Vertical, Smart, and AI-based Farming

Technologies maximizing crop yields, enabling fresh food growth in urban areas, and optimizing agricultural production for sustainable food.

Agriculture in Space

Utilizing untapped resources beyond Earth to overcome limitations of arable land.

Businesses' Social License to Operate

Companies' legitimacy and acceptance by society, linked to their commitment to the greater good.

Water-related Business Risk

the financial, operational, and reputational risks companies face because of how scarce, polluted, or poorly managed water resources are. Generally categorized into physical risk, reputational risk, and regulatory risk.

Physical risk of water for a company

water scarcity, flooding and droughts, and the decline of water quality that can disrupt operations and supply chains.

Reputational risk of water for a company

the negative impacts on a company's public image and stakeholder trust resulting from poor water management practices or environmental harm.

Regulatory risk of water for a company

the potential legal and financial consequences a company faces due to non-compliance with water-related regulations and policies, which can affect operational costs and market access.

Ambassador Effect

when people who experience another culture firsthand become informal brand ambassadors for its products and ideas, often increasing international demand. The combination of personal commitment to Pro sociality and interpersonal promotion of Pro sociality.

Social Profit Orientation (SPO)

An organization-wide perspective where entities embrace in their core mission the creation of sustainable, positive social and/or environmental impacts on individuals, communities, and society at large.

SPO Core Objective

Proactively investing resources (knowledge, infrastructure, labor, reputation, money, and time) with the explicit goal of enhancing the common good, not merely a by-product of making financial profits.