Marketing ch.5
new technology called ____ allows a company to follow items as they move through the supply chain and to their final destination with the consumer
RFID
which firm would be the most likely to see food sales suffer as a result of inflation and rising costs and consumers wanting to save money
Red Lobster
marketers can use an analysis of the external and internal environments such as:
SWOT
Generation ___ was born into a world full of electronic gadgets and digital technologies, including social networks.
Z
demographics affect launching of new product
a product may be for specific gender product may be targeted towards a specific age group or generational cohort
characteristics that describe Generation X
born between 1965-1976 represent 41 million Americans latchkey children
consumers in a generational ____ are a group of people of the same generation having similar purchase behaviors because they have shared experiences and are in the same stage of life
cohort
most important immediate environmental factors that impact consumers are the
company, competitors, and corporate partners
in the immediate environment it is critical that marketers understand their firm's ____ including their strengths, weaknesses, and likely reactions to the marketing activities that their own firm undertakes
competitors
at the center of all analysis of the marketing environment is the ____ and his/her specific behavior and attitudes
consumer
in all marketing efforts, the ____ is at the center
consumer
when launching a new clothing line a company must primarily focus on the needs and wants of whom?
consumers
a marketing manager might use SWOT analysis to determine the firm's ____ competencies that identify the internal strengths of the firm and can help it to compete effectively in the market.
core
publishing company is considered the school's ____ partner
corporate
components of culture
customs of a group of people morals beliefs (food preferences, language differences)
data that provides statistical information about the population and the various groups within the population is known as
demographics
demographic factors can help predict consumer buying patterns
education attained income earned
when tourists visit and shop in other countries because the value of the tourists' home currency is stronger, this results from a favorable ___ rate
exchange
youngest generation, known as Digital Natives
generation Z
when companies ensure that all the packaging has symbols, such as the recycle symbol or symbols showing that they support wind energy, this is a strategic effort by the company to show that they are involved in:
green marketing
social trend with example
green marketing--investing in phosphate-free laundry health wellness concerns--popularity of hand sanitizer privacy concern--do not call registry culture with limited time--popularity of delivery services
industries most likely to suffer a downturn when interest rates rise
housing market
increasing sales of hand sanitizer gel have resulted in part from the social trend of:
increasing health and wellness concerns
______ refers to the persistent increase in the prices of goods and services
inflation
at its most basic level, the _____ refers to the cost to the individual for borrowing money
interest rate
what are some characteristics that may be causing the increase in wealthy families
maturing of the general population increase in dual-income households
the political/regulatory environment consists of:
political parties laws and legislation
major macroenvironmental factors
political/legal (regulatory) factors cultural factors social factors
examples of government legislation designed to protect the consumer?
prohibition of false advertising product safety standards
goals of value-based marketing --goal of ___marketing to provide greater benefit relative to cost
recognize consumers' needs and wants provide value to consumers value-based
when interest rates are high, consumers have a greater incentive to____ more, but when interest rates are low, consumer have a greater incentive to____.
save; borrow
Macroenvironmental factors include all of the following elements EXCEPT:
the CEO's behavior