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Marketing > Ch 3 ACCESS Powerpoint > Flashcards

Ch 3 ACCESS Powerpoint Flashcards

1
Q

What trends might affect marketing in the future?

A
  • Personalized marketing
  • Increased emphasis on reusing products and resources
  • Visual search
  • Artificial Intelligence
  • Blockchain technologies
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2
Q

the process of continually
acquiring information on events occurring outside the
organization to identify and interpret potential trends is known as

A

Environmental Scanning

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3
Q

What 3 things do environmental forces affect?

A

Suppliers
Organization
Customers

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4
Q

What are the 5 environmental forces?

A

Social
Economic
Technological
Competitive
Regulatory

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5
Q

What are some examples of social forces?

A

-Demographic shifts
-Cultural changes

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6
Q

the demographic characteristics of the
population and its culture are known as

A

Social Forces

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7
Q

What term describes a population according to selected characteristics such as age, gender, ethnicity, income, and occupation?

A

Demographics

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8
Q

Which generation include 76 million children born between 1946 and 1964?

A

Baby boomers

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9
Q

Which generation includes the 55 million people born between
1965 and 1976. Also called the baby bust?

A

Generation X

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10
Q

Which generation includes the 62 million Americans born between 1977 and 1994.Also called the echo-boom?

A

Generation Y

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11
Q

Which generation refers to the post-millennial generation, which includes consumers born between 1995 and 2010?

A

Generation Z

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12
Q

What term onsists of combinations of the
marketing mix that reflect the unique attitudes, ancestry,
communication preferences, and lifestyles of different races?

A

Multicultural Marketing

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13
Q

What term consists of the set of values, ideas, and attitudes that
are learned and shared among the members of a group?

A

Culture

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14
Q

What term pertains to the income, expenditures, and
resources that affect the cost of running a business and
household?

A

Economy

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15
Q

the total amount of money made in one year by a person, household, or family unit. Also known as money income at the Census Bureau is known as?

A

Gross Income

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16
Q

the money a consumer has left after paying taxes to use for necessities such as food, housing, clothing, and transportation is known as

A

Disposable income

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17
Q

the money that remains after paying
for taxes and necessities is known as?

A

Discretionary income

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18
Q

What term consists of the invention or innovations from applied science or engineering research is known as

A

Technology

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19
Q

an information- and communication-based
electronic exchange environment mostly occupied by
sophisticated computer and telecommunication technologies
and digitized offerings is known as?

A

Marketspace

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20
Q

any activity that uses electronic communication in the inventory, promotion, distribution, purchase, and exchange of products and services

A

Electronic Commerce

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21
Q

The network of products embedded with connectivity-enabled electronics is known as

A

Internet of Things

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22
Q

What term consists of the alternative firms that could provide a product to satisfy a specific market’s needs?

A

Competition

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23
Q

What term consists of the restrictions state and federal laws
place on business with regard to the conduct of its activities?

A

Regulation

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24
Q

a grassroots movement started in the 1960s to increase the influence, power, and rights of consumers in dealing with institutions is known as

A

Consumerism

25
Q

an alternative to government control
whereby an industry attempts to police itself is known as

A

Self-regulation

26
Q

the moral principles and values that govern the actions and decisions of an individual or groupware known as

A

Ethics

27
Q

the legal concept of “let the buyer beware”
that was pervasive in the American business culture prior to the
1960s is known as

A

Caveat emptor

28
Q

an outline presented
by President John F. Kennedy in 1962 that that codified the
ethics of exchange between buyers and sellers, including the
rights to safety, to be informed, to choose, and to be heard is known as the

A

Consumer Bill of Rights
(1962)

29
Q

the clandestine collection of trade
secrets or proprietary information about a company’s competitors is known as

A

Economic Espionage

30
Q

A formal statement of ethical principles and rules of conduct is known as

A

Code of Ethics

31
Q

Employees who report unethical or illegal actions of their employers is known as

A

Whistle-blowers

32
Q

a personal moral philosophy that considers certain individual rights or duties as universal, regardless of the
outcome is known as

A

Moral Idealism

33
Q

a personal moral philosophy that focuses on the “greatest good for the greatest number” by assessing the costs and benefits of the consequences of ethical behavior can be defined as

A

Utilitarianism

34
Q

the idea that organizations are part of a larger society and are accountable to that society for their actions is known as

A

Social Responsibility

35
Q

the recognition of the need for organizations to improve the state of people, the planet, and
profit simultaneously if they are to achieve sustainable, long-
term growth is known as the

A

Triple Bottom Line

36
Q

the effort to meet today’s (global)
economic, environmental, and social needs without
compromising the opportunity for future generations to meet
theirs can be described as

A

Sustainable Marketing

37
Q

What term consists of marketing efforts to produce, promote, and reclaim environmentally sensitive products?

A

Green Marketing

38
Q

What occurs when the charitable contributions of
a firm are tied directly to the customer revenues produced
through the promotion of one of its products?

A

Cause Marketing

39
Q

What term involves conducting business in a way that protects the natural environment while making
economic progress.

A

Sustainable Development

40
Q
  • Macroeconomic conditions
  • Consumer income are apart of which environmental force?
    A) Social
    B) Economic
    C) Technological
    D) Competitive
    E) Regulatory
A

B) Economic

41
Q
  • Changing technology
  • Technology’s impact on customer value
    -enabled data analytics are apart of which environmental force?
    A) Social
    B) Economic
    C) Technological
    D) Competitive
    E) Regulatory
A

C) Technological

42
Q
  • Alternative forms of competition
  • Small businesses
    are apart of which environmental force?
    A) Social
    B) Economic
    C) Technological
    D) Competitive
    E) Regulatory
A

D) Competitive

43
Q
  • Laws protecting competition
  • Laws affecting marketing mix actions
  • Self-regulation
    are apart of which environmental force
    A) Social
    B) Economic
    C) Technological
    D) Competitive
    E) Regulatory
A

E) Regulatory

44
Q

Which generational cohort expects companies to embrace social change, corporate social responsibility, and environmental stewardship
- They also expect sustainable communities

A

Millienials

45
Q

T/F- 1/3 of the population belongs to African Americans, native Americans, and asian Americans

A

True

46
Q

What is the economic impact (spending) of the minorities?

A

Hispanic- $1.5 trillion
African American- $1.3 trillion
Asian Americans- $1.0 trillion

47
Q

What are some of the key notable cultural changes?

A

Attitudes and roles
Gender stereotypes
Fashion
Career
Sports

48
Q

What are some of the new values of this culture?

A
  • Sustainability
  • Preserving the environment
49
Q

T/F-82% of shoppers consider themselves environmentally friendly

A

True

50
Q

T/F- Consumers commit to brands with strong link to social action

A

True

51
Q

What type of competitions has many sellers with similar products

A

Pure competition

52
Q

What type of competition results in many sellers with substitutable products in a price range

A

Monopolistic Competition

53
Q

What type of competition results in few sellers that control majority of sales?

A

Oligopoly

54
Q

What kind of competition results in only one seller?

A

Pure monopoly

55
Q

T/F-30+ million small businesses in U.S.
employ 48% of employees, generate 66% of new jobs, and
are 46% of GDP.

A

True

56
Q

What acts protect competition?

A

Sherman Antitrust Act
Clayton Act
Robinson-Patmant Act

57
Q

What acts protect pricing, distribution, and promotion

A

-FTC Act of 1914
- Deceptive Mail Prevention and Enforcement Act (1999)
- Telephone Consumer Protection Act
- Controlling the Assault of Non-Solicited Pornography and Marketing (CAN-SPAM) Act (2004)

58
Q

What act was created to protect consumerism?
This act also provides advantages to trademark owners

A

Lanham Act (1946)

59
Q
A

Marketing (31 decks)

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