MKTG 4 – Flashcard
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*The group that is most likely to buy a certain good or service is a(n):
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Target Market
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Which of the following is a reason that a marketing campaign needs to change over time?
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(all of the above) Consumers switch career, consumers make more money, consumers have kids.
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External marketing environment scanning involves all of the following EXCEPT:
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analysis of carbon dioxide emissions
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*A firm that engages in environmental management attempts to change:
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legal regulations
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*A person's values are formed through:
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interaction with others.
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The study of ________ examines, for example, the percentage of single parent homes or the percentage of bilingual individuals.
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demography
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A demographic study of a market might include all of the following EXCEPT:
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handwriting analysis
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*When Kraft posts a YouTube video with its latest commercial for Mac n' Cheese, which type of communication is that?
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One to Many
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*A marketing campaign aimed at ________ should have a social media presence.
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Generation Y
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The primary determinant of a person's earning potential is:
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education
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________ is equal to income minus the cost of living.
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Purchasing Power
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Which of the following is more likely to do well in a recession?
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Walmart
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________ research aims to create innovative products.
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Applied
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*________ The Act was passed in 2010 to protect consumers using the Consumer Financial Protection Bureau, which deals with unfair, abusive, and deceptive practices.
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Restoring American Financial Stability Act
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*The Federal Trade Commission is empowered to do all of the following EXCEPT:
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establish safety standards on products
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The ___ Act strengthened the Clayton Act to prevent corporate acquisitions that reduce competition
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Celler-Kefauver Act
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Which of the following has had the greatest effect on marketing?
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the increasing number of working women
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the higher your disposable income, the higher your ___ power
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purchasing
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_____ focused on health and consumers in and around their homes
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CPSC
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___ research attempts to develop new/improved products
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Applied
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____ factors are factors that include our attitudes, values, lifestyles
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Social
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Which generation was born from 1946-1964
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Baby boomers
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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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Another uncontrollable variable in the external environment—also extremely important to marketing managers—is ___ , the study of people's vital statistics, such as age, race and ethnicity, and location.
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demography
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___ factors include our attitudes, values, and lifestyles
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social
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The competitive environment encompasses the number of competitors a firm must face, the relative size of the competitors, and the degree of interdependence within the industry.These are called __ ___.
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competitive factors
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ages 8-12
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Tweens
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___ ___ also called the millennial generation, is made up of people born between 1979 and 1994
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Gen Y
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people born between 1965 and 1978—consists of 40 million consumers are __ ___.
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Gen X
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When a company implements strategies that attempt to shape the external environment within which it operates, it is engaging in __ __
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environmental management
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___ change is perhaps the most difficult external variable for marketing managers to forecast, influence, or integrate into marketing plans
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Social
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A ____is a strongly held and enduring belief
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value
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The three economic areas of greatest concern to most marketers are ___, ___, ___.
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income, inflation, and recession
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___ ___ is 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. Another way to think of purchasing power is income minus the cost of living (i.e., expenses
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Purchasing power
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___ is a measure of the decrease in the value of money, generally expressed as the percentage reduction in value since the previous year
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inflation
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A ___ is a period of economic activity characterized by negative growth
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recession
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___ research attempts to expand the frontiers of knowledge but is not aimed at a specific, pragmatic problem. It aims to confirm an existing theory or to learn more about a concept or phenomenon
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basic
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___ research attempts to develop new or improved products
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applied
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The sole purpose of the ___ ___ ___ ___ is to protect the health and safety of consumers in and around their homes
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Consumer Product Safety Commission (CPSC)
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The ___ ___ ___ ___ , another powerful agency, is charged with enforcing regulations against selling and distributing adulterated, mis-branded, or hazardous food and drug products
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Food and Drug Administration (FDA)
