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MKTG Exam 1 > Chapter 3 Macroenvironment > Flashcards

Chapter 3 Macroenvironment Flashcards

1
Q

6 forces in the macro environment

A 
Demographic
Economic
Natural 
Technological 
Political 
Cultural
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2
Q

What impacts multiple industries and not just yours

A

Macroenvironment

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3
Q 
Household structures 
Age structures 
Geographic population shifts 
Educational characteristics 
Population diversity 
Occupations 
(These are all)
A

Demographic forces

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4
Q

The four age structures

A

Baby boomers
Generation X
Millennials (Gen Y)
Generation Z

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5
Q

Most affluent group in general

A

Baby boomers

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6
Q

Most likely to postpone retirement and stay active

A

Baby boomers

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7
Q

Less materialistic

A

Generation X

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8
Q

Spend time “cutting and pasting” lives

A

Generation X

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9
Q

Care about the environment

A

Generation X

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10
Q

“Echo Boom”

A

Generation Y

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11
Q

Comfortable with technology

A

Generation Y

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12
Q

“Now oriented”

A

Generation Y

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13
Q

Digital in their DNA

A

Generation Z

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14
Q

Gen Y is the same as

A

Millennials

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15
Q

Desire lots of sensory information

A

Generation Z

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16
Q

Expect personalized experiences

A

Generation Z

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17
Q

Makers not sharers

A

Generation Z

18
Q

Changes in buying behavior (2)

A

Overconsumption

Treasure hunter trade offs

19
Q

When economy is doing well you participate in

A

Overconsumption—> value marketing

20
Q

When you buy even though the economy isn’t doing well

A

Treasure hunter trade offs

21
Q

Changes in income distribution (4)

A

Upper
Middle
Working
Under

22
Q

4 factors in natural forces

A

Shortages of raw material
Increased pollution
Increased government intervention
Environmentally sustainable strategies

23
Q

Create new products while making other products obsolete is a

A

Technological force

24
Q

Most laws that affect marketing have been passed in order to protect who

A

Consumers (customers)

25
Q

Provides for the regulation of the packaging and labeling of consumer goods. Requires that manufacturers state what the package contains, who made it and how much it contains

A

Fair Packaging and Labeling Act

26
Q

Created the Food and Drug Administration (FDA). It forbids the manufacture or sale of adulterated or fraudulently labeled foods and drugs

A

Federal food and drug act

27
Q

The fact that exaggerations in advertising are okay is

A

Truth in Advertising

28
Q

Prohibits monopolies and activities (price-fixing, predatory pricing) that restrain trade or competition in interstate commerce

A

Sherman Ant-trust act

29
Q

All competitors got together and said they’ll charge the same price..this is

A

Price fixing

30
Q

When the price is so low that you are intentionally trying to drive out competition

A

Predatory pricing

31
Q

Supplements the Sherman Act by prohibiting certain types of price discrimination

A

Clayton Act

32
Q

Amends the Clayton Act to define price discrimination as unlawful

A

Robinson-Patman Act

33
Q

7 current cultural trends

A 
Hyper tasking 
Duty and fun 
Adventurers 
Mass mingling 
Cocooning/nesting 
LOHAS 
Renewed Spirituality
34
Q

Multi-tasking in overdrive is

A

Hypertasking

35
Q

Having fun but responsibly is

A

Duty and fun

36
Q

Doing things that others wouldn’t do is

A

Adventurers

37
Q

Digital technologies affect online mingling

A

Mass mingling

38
Q

Spending more time @ home

A

Cocooning/nesting

39
Q

General concern for the natural world

A

LOHAS

40
Q

LOHAS stands for

A

Lifestyle of health and sustainability

41
Q

Less materialism, greater “meaning of life”

A

Renewed spirituality

MKTG Exam 1 (9 decks)

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