Day 2 lecture concluded previous lecture, for the first part laying mentioning digital elements of

Industry 4.0. The second part introduced the next chapter - Understanding buyers.

- Blockchain
A digital ledger or database of transactions and records replicated in real time across a
network of computer nodes. This attempts to solve the problems related with money
transfer
- Additive manufacturing
Using 3D design data to build component layers by depositing materials. For example,
Ministry of Supply having 3D printers in stores to enable customization of customer
needs.
- Big Data analysis (Question of Ethics)
Manipulation and management of very large data sets could pose logistical challenges as
volumes of varied data slow down the speed of processing. In a bid to go around this
problem, marketers and society engage novel ways to explore big data in order to
produce useful significant value for goods and services. It however poses a problem
ethics in exploring data.

Understanding Buyers

This entails understanding customers feelings or think about brands alternatives; how
culture influences behavior, family and influential others, motives, lifestyle, personality
and people affect purchase decision.