Digital Technologies as a Factor for Growth of Continuous Well-Being of Sovereign Consumers in the Modern Society
- 10.2991/aebmr.k.200312.170How to use a DOI?
In the article, the authors analyze the impact of digital technologies on the reaction of sovereign customers to the goods and services offered at the market. The economy digitalization enables to take into account as much as possible all factors that allow the consumer to make effective decisions aimed at full meeting individuals’ needs. The formation of the production pattern to a great extent depends on what needs are, and what level of their meeting is. Consuming some of the benefits and refusing to consume the others the consumer actively influences the production activities of economic agents in the economy. The sovereign consumers’ needs, accounted and unaccounted, are the guideline for the development of the production activities of economic agents, structure and quantity of output of necessary goods and services. The sovereign consumers capable of making effective consumer decisions create a new need and an internal encouraging incentive in the economy. The modern economy is fundamentally oriented to the ultimate taking into account the social, cognitive and emotional factors and their influence on making effective consumer decisions by individuals. This influence affects the activities of the economic agents, production of goods and services, the market variables (prices, benefit, and allocation of resources). The sovereign consumers basing on digital technologies strongly influence the manufacturers’ choice. In terms of digital transformation, the process of meeting the increasing needs becomes more dynamic and is reflected in the quality of continuous well-being of the society.
- © 2020, the Authors. Published by Atlantis Press.
- Open Access
- This is an open access article distributed under the CC BY-NC license (http://creativecommons.org/licenses/by-nc/4.0/).
Cite this article
TY - CONF AU - E A Gasanov AU - A E Zubarev AU - T G Krasota PY - 2020 DA - 2020/03/17 TI - Digital Technologies as a Factor for Growth of Continuous Well-Being of Sovereign Consumers in the Modern Society BT - Proceedings of the International Scientific Conference "Far East Con" (ISCFEC 2020) PB - Atlantis Press SP - 1229 EP - 1243 SN - 2352-5428 UR - https://doi.org/10.2991/aebmr.k.200312.170 DO - 10.2991/aebmr.k.200312.170 ID - Gasanov2020 ER -