Principles of Marketing 101 Chapter 5- Grewal | Levy 4e – Flashcards
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Baby Boomers
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Generational cohort of people born after World War II, between 1946 and 1964.
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country culture
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Entails easy-to-spot visible nuances that are particular to a country, such as dress, symbols, ceremonies, language, colors, and food preferences, and more subtle aspects, which are trickier to identify.
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culture
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The set of values, guiding beliefs, understandings, and ways of doing things shared by members of a society; exists on two levels: visible artifacts (e.g., behavior, dress, symbols, physical settings, ceremonies) and underlying values (thought processes, beliefs, and assumptions).
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demographics
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Information about the characteristics of human populations and segments, especially those used to identify consumer markets such as by age, gender, income, and education.
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Digital Natives
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Also known as Generation Z, people in this group were born into a world that already was full of electronic gadgets and digital technologies, such as the Internet and social networks.
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foreign currency fluctuations
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Changes in the value of a country's currency relative to the currency of another country; can influence consumer spending.
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Generation X
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Generational cohort of people born between 1965 and 1976.
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Generation Y
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Generational cohort of people born between 1977 and 1995; biggest cohort since the original postwar baby boom.
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Generation Z
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Also known as the Digital Natives, because people in this group were born into a world that already was full of electronic gadgets and digital technologies, such as the Internet and social networks.
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generational cohort
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A group of people of the same generation—typically have similar purchase behaviors because they have shared experiences and are in the same stage of life.
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green marketing
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Involves a strategic effort by firms to supply customers with environmentally friendly merchandise.
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greenwashing
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Exploiting a consumer by disingenuously marketing products or services as environmentally friendly, with the goal of gaining public approval and sales.
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inflation
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Refers to the persistent increase in the prices of goods and services.
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interest rates
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These represent the cost of borrowing money.
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macroenvironmental factors
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Aspects of the external environment that affect a company's business, such as the culture, demographics, social issues, technological advances, economic situation, and political/regulatory environment.
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Millennials
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Consumers born between 1977 and 2000 and the children of the Baby Boomers.
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political/regulatory environment
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Comprises political parties, government organizations, and legislation and laws.
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regional culture
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The influence of the area within a country in which people live.
