Exam 3: The Marketplace and Customers: Analysing the Environment

A major challenge to multi-national food brands has been the rise of farmers' markets providing buyers with opportunities to purchase specialty produce grown in the local area.Although farmers' markets are not cheap,consumers report many reasons for preferring them including: the availability of quality,organic produce;a more personalised purchasing experience through direct interactions with producers and growers;a reduction in carbon footprint by reducing food miles.Consumer interest in farmers' markets is most likely to indicate changes in which of the following environments?

According to Engel's laws,consumers tend to spend a larger percentage of income on savings as income rises.

Beyond formal legislation,business is also governed by social codes and ________.