Chapter 3 - Analyzing the Marketing Environment

Question 1

demography

Answer 1

the study of statistics that illustrate the
changing structure of human populations
e.g., gender, age, income, education, ethnicity

Question 2

baby boomers

Answer 2

Wealthiest generation in history

Account for 50% of consumer spending

Question 3

Generation X

Answer 3

Less materialistic than other groups

Skeptical of marketing, Careful spenders

Question 4

Millennials

Answer 4

Fluency and comfort with digital technology

Seek out two-way communications with brands

Question 5

Economic factors include what 3 things?

Answer 5

foreign currency fluctuations
inflation
interest rates

Question 6

Economic crisis leads to…

Answer 6

consumer frugality

Question 7

Technology has impacted every aspect of marketing in what 3 ways

Answer 7

New products
New forms of communication
New retail channels

Question 8

natural environment

Answer 8

The physical environment and natural resources

Environmental sustainability

Question 9

political environment

Answer 9

Laws, government agencies, pressure groups
Legislation regarding fair competition and consumer protection
Industry-specific regulation

Question 10

culture

Answer 10

the set of values, beliefs, perceptions, and behaviors shared by people in a social group