MRKT 303- Chapter 4 – Flashcards
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A(n) _____ is a defined group that managers feel is most likely to buy a firm's product.
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target market
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The external environment _____.
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must be continually monitored by marketing managers
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All of the following are factors in the external environment affecting marketing EXCEPT:
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marketing mix
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Marketing managers cannot control _____, but they can sometimes influence it.
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the external environment
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Which of the following is the most difficult for marketing managers to forecast, influence, or integrate into marketing plans?
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Social factors
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The study of people's vital statistics, such as age, race and ethnicity, and location, is called:
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demography
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Which of the following is NOT a demographic characteristic of a population?
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Values
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Research indicates that _____ is the most important thing to tweens.
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being happy
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_____ are strongly attached to technology, family-oriented, and impatient, and are quick shoppers.
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Generation Yers
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Which of the following represents the largest group of consumers in the United States?
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Gen Y
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Consumers born between 1965 and 1978 form a group called:
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Generation X
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The group of people in the United States who were born between 1946 and 1964 are known as:
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baby boomers
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Recession, inflation, and consumers' incomes that influence the marketing environment are called _____ factors.
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economic
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_____ is the primary determinant of a person's earning potential.
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Education
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The _____ is a governmental body that has the power to prescribe mandatory safety standards for almost all products consumers use.
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Consumer Product Safety Commission
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The _____ is an agency that prevents the use of unfair methods of competition in commerce.
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Federal Trade Commission
