marketing 1

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  1. Sociocultural Forces
    The influences in a society that changedemographics and people’s attitudes, beliefs,and lifestyles
  2. Demographic- U.S. Population
    Continues to grow BUT is growing at a slower rate.

    Continues to grow OLDER. The number of people 65 & up is expected to double by 2050.

    A major shift towards southern and westernStates
  3. Demographic- Increased Ethnic Diversity in the USA
    80% of all population growth in the next 20 years is expected to come from African-American, Hispanic and Asian communities

    Minority population will increase to 50% by 2050
  4. Demographic- Single Adults onthe Rise
    Single men living alone comprise 11% of all U.S. households. Up from 3.5% in 1970.

     Single women living alone comprise 15% of all U.S. households. Up from 7.3% in 1970.
  5. Cultural Trends in the USA
    A more environmentally conscience society that seeks to buy “green” products

     A time-poor society that seeks products thatcan save them time

     A more health-conscience society that seeks exercise and healthier food
  6. Brand
    The identity and reputation of a specificproduct, service or business
  7. 6 Values of Branding for the Customer & the Marketer
    Facilitate Consumer Purchasing

    Establish Loyalty (Brand Loyalty)

    Protect from Price Competition

    Reduce Marketing Costs

    Differentiate from competition

    • Are Assets that impact a company’s market 
    • value (Brand Equity)
  8. Brand Loyalty
    Occurs when a consumer buys the sameproduct or service repeatedly over time to the exclusion of other alternatives
  9. Brand Equity
    The marketing and financial value associated with a brand’s strength (or weakness) in a market

    Positive brand equity creates value beyond the functional value of the product

    Strong brand equity can mean BIG $$$$!!!
  10. Brand Licensing
    A contractual arrangement whereby one firmallows another to use it’s brand name, logo,symbol, or characters in exchange for a fee
  11. Brand Personality
    The image and “feelings” associated with the brand
Card Set:
marketing 1
2013-05-05 22:20:07


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