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marketing chapter 3
| Question | Answer |
|---|---|
| evniromenal scanning | is the process of continually acquiring information on events occurring outside the organizations to identify and interpret trends |
| social forces | the demographic characteristics of the population and its culture |
| demographics | describes a population according to selected characteristics such as age, gender, ethnicity, income, and occupations |
| which country will have the largest population in 2050 | india |
| which group is growing longer | 65+ |
| baby boomer | (1946- 1964) 76 million children. |
| generation x | (1965 to 1980) - 55 million. also called the baby bust |
| Generation Y | (1983- 1996) 62 million |
| what do Generation Y expect | they expect companies to embrace social change, corporate social responsibility, and environmental stewardship |
| Multicultural marketing | consists of combinations of the marketing mix that reflect the unique attitudes, ancestry, communication preferences, and lifestyle of different races |
| culture | consists of the set values, ideas, and attitudes that are learned and shared by the members of a group |
| economic forces | pertain to the income, expenditure, and resources that affect the cost of running a business and household |
| macroeconomics | performance of economy. GDP gross domestic product, inflation, deflation. |
| gross income | is the total amount of money made in a one year by a person, household, or family init. also known as money income at the Census Bureau |
| disposable income | is the money a consumer has left after paying for taxes and necessities |
| inflation | production cost and prices increase |
| recession | periods of declining economic activity |
| technological advances | consist of the inventions of innovations form applies science or engineering research |
| electronic commerce | is any activity that uses electronic communication in the invention, promotion, distribution, purchase, and exchange of products and service. also called e-commerce. |
| internet of things (ioT) | is the network of products embedded with connectivity- enabled electronics |
| marketing analytics | is the study of data to evaluate the perforce marketing activates in mineral terms which are called metrics |
| competitive forces | consists of business practice or conditions that make it difficult for a new firm to enter the market |
| regulatory forces | |
| barriers to entry | consist of the business practice or conditions that make it difficult for a new firm to enter the market |
| regulation | consists of the restriction state and federal laws place on business with regard to the conduct of its activities |
Created by:
ellaweiberg