Ch 4 Flashcards
When a company implements strategies that attempt to shape the external environment within which it operates
Environmental management
The practice of choosing goods and services that meet one’s diverse needs and interests rather than conforming to a single, traditional lifestyle
Component Lifestyles
People born between 1979 and 1994
Millennials
People born between 1965 and 1978
Generation X
People born between 1946 and 1964
Baby Boomers
A comparison of income versus the relative cost of a standard set of goods and services in different geographic areas
Purchasing power
Pure research that aims to confirm an existing theory or to learn more about a concept or phenomenon
Basic research
Research that attempts to develop new or imprved products
Applied research
Federal agency established to protect the health and safety of consumers in and around their homes
Consumer Product Safety Commission (CPSC)
