MKT Ch. 4

Card Set Information

Author:
Dbadams94
ID:
308448
Filename:
MKT Ch. 4
Updated:
2015-09-26 23:36:49
Tags:
MKT
Folders:

Description:
MKT
Show Answers:

Home > Flashcards > Print Preview

The flashcards below were created by user Dbadams94 on FreezingBlue Flashcards. What would you like to do?


  1. A group of people or organizations for which an organization designs,implements, and maintains a marketing mix intended to meet the need of that group, resulting in mutually satisfying exchanges.
    Target market
  2. 3 social factors that affect marketing. (AVL)
    • 1. Attitudes
    • 2. Values
    • 3. Lifestyles
  3. 4 American values. (SUWC)
    • 1. Self-sufficiency
    • 2. Upward mobility
    • 3. Work ethic
    • 4. Conformity
  4. The practice of choosing goods and services that meet one’s diverse needs and interests rather than conforming to a single, traditional lifestyle.
    Component lifestyle
  5. A component lifestyle is no longer defined only by...
    occupation.
  6. Today's consumers want... products.
    multifunctional
  7. What is the basis for any market?
    People
  8. Demographic characteristics relate to...
    buyer behavior.
  9. Demographic cohorts have their own... (NVC)
    • 1. Needs
    • 2. Values
    • 3. Consumption patterns
  10. 4 economic factors. (CPIR)
    • 1. Consumer's income
    • 2. Purchasing power
    • 3. Inflation
    • 4. Recssion
  11. ... is the primary determinant of earning potential.
    Education
  12. Median U.S. household income in 2014 was approximately...
    $51,000
  13. Average family incomes, when adjusted for inflation, fell around...% between 2007 and 2011
    eight percent
  14. Measured by comparing income to the relative cost of a standard set of goods and services in different geographic areas, usually referred to as the cost of living.
    Purchasing power
  15. A measure of the decrease in the value of money, expressed as the percentage reduction in value since the previous year.
    Inflation
  16. A period of economic activity characterized by negative growth, which reduces demand for goods and services.
    Recession
  17. Pure research that aims to confirm an existing theory or to learn more about a concept phenomenon.
    Basic research
  18. An attempt to develop new or improved products.
    Applied research
  19. 6 steps of stimulating innovation. (BETUCC)
    • 1. Build scenarios
    • 2. Enlist the Web
    • 3. Talk to early adopters
    • 4. Use marketing research
    • 5. Create an innovative environment
    • 6. Cater to entrepreneurs
  20. Laws and regulations protect what 4 things? (NSBC)
    • 1. New technology
    • 2. Society
    • 3. Businesses
    • 4. Consumers
  21. 6 legislations on regulating competitive environment. (SCFCHF)
    • 1. Sherman Act
    • 2. Clayton Act
    • 3. Federal Trade Commission Act
    • 4. Celler-Kefauver Antimerger Act
    • 5. Hart-Scott-Rodino Act
    • 6. Foreign Corrupt Practices Ac
  22. Legislation on regulating pricing practices.
    Robinson-Patman Act
  23. Legislation on controlling false advertising.
    Wheeler-Lea Act
  24. Legislation that affects marketing and varies state by state.
    State law
  25. Protects consumer safety in and around their homes.
    Consumer Product Safety Commission
  26. Enforces safety regulations for food and drug products.
    Food and Drug Administration
  27. Prevents unfair methods of competition in commerce.
    Federal Trade Commission
  28. 2 bureaus of the FTC. (CC)
    • 1. Bureau of competition
    • 2. Bureau of consumer protection
  29. 2 consumer privacy government actions. (CC)
    • 1. CAN-SPAM Act
    • 2. Children’s Online Privacy ProtectionAct Rule
  30. A vast amount of personal data is collected through...
    apps.
  31. 3 competitive factors. (NSI)
    • 1. Number of competitors 
    • 2. Size of competitors
    • 3. Interdependency of industry

What would you like to do?

Home > Flashcards > Print Preview