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Distancing Influence on Economic Relationships

Feedback is a crucial part of communication between the participants of economic relationships and is vital for all stakeholders involved. Indeed, the presence of feedback and the consistency of the dialogue between the key stakeholders allows for shaping the offered products and services respectively so that the target audience could remain satisfied. In this respect, the introduction of a factor such as distancing is likely to serve as an impediment to the further performance of an organization and cause a failure in managing information properly. Implying the outcome of separating a product from consumption, distancing is defined by a range of factors, which ultimately lead to the reduced quality of feedback and, thus, the increased threat of failing to provide the target audiences with the product that meets their expectations (Princen 103). For this reason, the importance of introducing the tools that allow for minimizing costs and controlling them to a certain extent is required, especially in the context of the present-day digital economy (Princen 104). Due to the rapid inclusion of digital tools into the interactions between companies and consumers, the process of distancing has helped to reduce costs as a result of a simplified supply chain, yet it has also created a separation between the brand and the target audience.

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Therefore, to ensure that customers continue to relate to the promoted products and services closely, an in-depth study of the essential factors determining the cultural appeal of a product or service will be needed. As a result, innovative brand diversification strategies that will make a specific product relatable to consumers from a range of cultural backgrounds will be required (Kotecha 1). Consequently, it is reasonable for organizations, particularly, those planning to function on a global scale, to invest in the specified area of research, as well as in the concept of product diversification.

Works Cited

Kotecha, Rajesh. “The journey with COVID-19: Initiatives by Ministry of AYUSH.” Journal of Ayurveda and Integrative Medicine, vol. 12, no. 1, 2021, p. 1.

Princen, Thomas. “Distancing: Consumption and the Severing of Feedback.” Confronting Consumption, 2002, pp. 103-131.

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StudyCorgi. 2022. "Distancing Influence on Economic Relationships." September 12, 2022. https://studycorgi.com/distancing-influence-on-economic-relationships/.

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StudyCorgi. (2022) 'Distancing Influence on Economic Relationships'. 12 September.

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