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