Chapter 4 Flashcards
Applied research
attempts to develop new or improved products
Baby boomers
1946-1964
basic research
aims to confirm an existing theory or to learn more about a concept
component lifestyles
practice of choosing goods and services that meet ones diverse needs thather than a traditional life!!
consumer product safety commision (CPSC)
a federal agency established to protect the health and safety of consumers in and around their homes
demography
age,race, and ethnicity oh and location
enviromental management
to shape the external enviroment within which it operates
federal trade commision (FTC)
prevents persons from using unfair methods
food and drug administration (FDA)
enforces regulations against selling and distributing adultered, misbranded, or hazardous food and drug products
people born between 1965 and 1978 (momma)
X X X X X X
1979-1974
Me Y me Y me Y me Y
inflation
descrease in the value of money
purchasing power
comparison of income versus the realtive cost of a standard set of goods and services
recession —-
economic activity characterized by NEGATIVE growth, which reduces demand for goods and services
target market
designs, marketing mix aims for it!!!
economic factors
consumers’ incomes, purchasing power, inflation, and recession.
basic research
existing
applied research
attempt to develop new products
social factors
attidues
values
lifestyle
social media
one to one
one to many
many to many
laws and regulations protect
new technology
businesses
society
consumers
bearu of competion
promotes information
bearu of costumer protection
fraud identity theft
Consumer privacy
online children
can spam act
competitve factors
market share and profits-must work hard maintain
gobal competition-more foreigners entering market
