Help
Options
Didn't know it?
click below
click below
Knew it?
click below
click below
Don't Know
Remaining cards (0)
Know
retry
shuffle
restart
0:00
Embed Code - If you would like this activity on your web page, copy the script below and paste it into your web page.
Normal Size Small Size show me how
Normal Size Small Size show me how
Marketing
| Term | Definition |
|---|---|
| environmental scanning | process of continually acquiring information on events occuring outside the organization to identify and interpret potential trends |
| social forces | the demographic characteristics of the population and its culture |
| demographics | describing a population according to selected characteristics such as age, gender, ethnicity, income, occupation |
| baby boomers | includes the generation of 76 million children born between 1946-1964 |
| gen z | the post millenial generation, which includes consumers between 1997-2010 |
| gen x | includes the 55 million people born between 1965-1980 also called the baby bust |
| gen y | includes the 62 million americans born between 1981-1996 also called echo-boom (millenials) millenials expect companies to embrace social change, corporate social responsibility and environmental sustainability |
| multicultural marketing | approaches that reflects the unique attitudes, ancestry, communication preferences, and lifestyle of diverse races and ethnic groups |
| culture | the set of values, ideas and attitudes that are learned and shared among the members of a group |
| economy | pertains to the income expenditures, and resources that affect the cost of running a business and household |
| gross income | the total amount of money made in one year be a person, household, or a family unit. also known as money income at the census bureau |
| gross income | the total amount of money made in one year be a person, household, or a family unit. also known as money income at the census bureau |
| disposable income | the money consumers has left after paying taxes to use for necessities such as food, housing, clothing, and transportation |
| discretional income | money that remains after paying taxes and necessities |
| technology | methods, systems, and devices that are the result of scientific and engineering knowledge being used for practical purposes |
| social media | consists of digital technologies that facilitate the creation and sharing of user-generated content - text, photos, video, animations(games) - through virtual communities and social networks |
| electronic commerce | activities that are used electronic communication in the inventory, promotion, distrubution, purchase, and exchange of products and services |
| internet of things | the network of products embedded with connectivity-enabled electronics |
| artificial intelligences | the simulation or approximation of human intelligence in machines |
| big data | extremely large data sets that require massive data storage warehouses and sophisticated data analysis to identify patterns, trends, and associations for decision making in marketing |
| discretional income | money that remains after paying taxes and necessities |
| marketing analytics | study of data to evaluate the performance of marketing activities in numerical terms which are called metrics |
| social media | consists of digital technologies that facilitate the creation and sharing of user-generated content - text, photos, video, animations(games) - through virtual communities and social networks |
| competition | alternative firms that could provide a product to satisfy a specific market needs |
| electronic commerce | activities that are used electronic communication in the inventory, promotion, distrubution, purchase, and exchange of products and services |
| internet of things | the network of products embedded with connectivity-enabled electronics |
| artificial intelligences | the simulation or approximation of human intelligence in machines |
| big data | extremely large data sets that require massive data storage warehouses and sophisticated data analysis to identify patterns, trends, and associations for decision making in marketing |
| marketing analytics | study of data to evaluate the performance of marketing activities in numerical terms which are called metrics |
| competition | alternative firms that could provide a product to satisfy a specific market needs |
| barriers to entry | business practices or conditions that make it difficult for new firms to enter the market |
| regulations | restrictions state and federal laws place on a business with regard to the conduct of its activities |
| the sherman act | (1890) |
| clayton act | (1914) |
| robinson-patman act | (1936) |
| consumerism | grassroots movement started in the 1960s to increase the influence, power, and rights of consumers in dealing with institution |
| self regulation | an alternative to government control where by an industry attempts to police itself |
| india | this countries population will be the largest in 2050 |
| china and japan | this countries birthrates are going down |
| the us population | the population of this country is becoming more large, older, and diverse |
| minority | it is currently becoming more obsolete |
| ethics | The MORAL PRINCIPLES AND VALUES that govern the actions and decisions of an individual or group. |
| laws | Society’s values and standards that are ENFORCEABLE in the courts. |
| consumer bill of rights (1962) | An outline presented by President John F. Kennedy in 1962 that codified the ethics of exchange between buyers and sellers, including the rights to safety, to be informed, to choose, and to be heard. |
| economis espionage | The CLANDESTINE collection of trade secrets or proprietary information about a company’s competitors. |
| code of ethics | A formal statement of ethical principles and rules of conduct. |
| whistle-blowers | Employees who report unethical or illegal actions of their employers. |
| moral idealism | A personal moral philosophy that considers certain individual rights or duties as universal, regardless of the outcome. 3M's scotchgard stooped production due to harmful chemicals |
| utilitarianism | A personal moral philosophy that focuses on “the greatest good for the greatest number” by assessing the costs and benefits of the consequences of ethical behavior. nestle gerber start infant formula kept producing stating nothing is effective 100% |
| social responsibility | The idea that organizations are part of a larger society and are accountable to that society for their actions (umbrella definition) |
| profit responsibility | that companies have a simple duty: to maximize profits for their owners or stockholders |
| stakeholder responsibility | focuses on the obligations an organization has to those who can affect achievement of its objectives |
| societal responsibility | refers to obligations that organizations have to the preservation of the ecological environment and the general public |
| triple bottom line | The recognition of the need for organizations to improve the state of PEOPLE, PLANET, AND PROFIT simultaneously if they are to achieve sustainable, long-term growth. |
| sustainable marketing | The effort to meet today’s (global) economic, environmental, and social needs without compromising the opportunity for FUTURE GENERATIONS to meet theirs. |
| green marketing | Marketing efforts to produce, promote, and reclaim ENVIRONMENTAL SENSITIVE products. |
| cause marketing | Occurs when the of a firm are tied directly CHARITABLE CONTRIBUTIONS to the customer revenues produced through the promotion of one of its products. |
| social audit | A systematic assessment of a firm’s objectives, strategies, and performance in terms of social responsibility. |
| sustainable development | Conducting business in a way that protects the natural environment while making economic progress. |
| right to safety | federal safety standards for most products sold in the united states |
| right to be informed | marketers must give consumers complete and accurate information |
| right to coose | the practice of limiting new products (slotting allowance) |
| slotting allowance | the paying for shelf space |
| right to be heard | consumers must have access to public policymakers regarding complaints |
| AMA American marketing association | general norms |
Created by:
kenzley.nation