Shared Flashcard Set

Details

Chapter 1-4, 19-20
first exam
18
Marketing
Undergraduate 2
02/18/2008

Additional Marketing Flashcards

 


 

Cards

Term
The Microenvironment includes:
Definition

1.The company

2. suppliers

3. marketing intermediaries

4. customers

5. competitors

6. publics

Term
Macroenvironment includes
Definition

1. demographics

2.cultural

3. economics

4. natural

5. technological

6. political

Term
Key U.S. demographic trends
Definition

1.Changing AGE structure

2. Canging FAMILY structure

3. Geographic Structure

4. Change in EDUCATION level

5. Change in ethnic and racial diversity

Term
Baby Boomers
Definition

-1946-1964

-78 million

-28% of population, 50% of income

-political and military superpower

-dual income households

 

Term
Generation X
Definition

- 1965-1976

-49 million

-cautious economic outlook

-socially responsible companies

-primary buyers by2010

-cold war, iron curtain, new world order

Term

Generation Y

 

Definition

1977-1994

72 million

-new products services media cater to gen y

-first full gen. in information age

-more racially diverse

-25% in single parent household

-challenging, humor, irony and unvarnished truth

Term
Cultural Environment
Definition
made of institutions and other forces that affect a society's basic values, perceptions, preferences, and behaviors
Term
Key Cultural Trends
Definition

People's views of

1. themselves

2. others

3. organizations

4. society

5. nature

6. universe

Term

Economic Environment

 

Definition
factors that affect the buying and selling of customers (inflation, recession, income trends)
Term
Engel's law
Definition

states with given set of tastes and preferences, as income rises,

1.proportion of income spent on food decreases

2. prop spent on clothing is constant

3. prop of inc on luxury goods increases

Term
Natural Environment
Definition
natural resources that are needed as inputs or that are affected by marketing activities
Term
Natural Environment Trends
Definition

1. shortage of raw materials

2. increased pollution

3. increase governement intervention

4. waste disposal/long run implications

Term

Technological Environment

information age leads to:

Definition

1. increase in speed of business

2. removal of geographic boundaries

3. convergence in ideas, values, products

4. loss of privacy

5. removal of personal interaction

 

 

Term
Technological Trends
Definition

1. Rapidly changing

2. creates new mkt. opps

3. renders existing products/ technologies obsolete

Term
Political Environment
Definition

laws, governemnt agencies and pressure groups that influence and limit

 

1. increasing legislation (carbon control, patents)

2. increased emphasis on social responsibilty

Term
Reactive management
Definition
reacting to a customer complaints and moving forward from them
Term
proactive
Definition
trying to forecast and be innovative by looking at themes
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