Chapter 5

Question 1

Marketing revolves around

Answer 1

customers/consumers

Question 2

Microenvironment = _______, ___________, and _______

Answer 2

Company, competition, and corporate partners

Question 3

Macroenvironment = six areas

Answer 3

1. Culture
2. Political Legal
3. Economic
4. Technology
5. Social
6. Demographics

Question 4

Bottled water (discussed in class)

Answer 4

Pepsi (Aquafina 1994) vs. Coke (Dasani 1999)

Core competency > applied to > new markets

Question 5

Culture =

Answer 5

Shared meanings, beliefs, morals, values, and customs of a group of people

Question 6

Country culture

Answer 6

artifacts, behavior, dress, symbols, physical settings, ceremonies, language difference, colors tastes and food preferences

Question 7

Regional culture

Answer 7

specific to a geographic area

Question 8

Coffee trends in US (discussed in class)

Answer 8

WWII was peak of coffee, Starbucks opened in 1971, Specialty coffee has doubled since 2010

Question 9

Political/regulatory environment

Answer 9

government regulates

Question 10

Demographics

Answer 10

most common form of segmentation because readily available

Question 11

Gender and age

Answer 11

male/female roles have been shifting

marketing has changed to reflect these shifts

Question 12

Income

Answer 12

Purchasing power is tied to income

families need same things but spend different amounts on essentials

Question 13

Education

Answer 13

related to income, which determines spending power

Question 14

General cohorts = Gen Z, Gen Y/Millennials, Gen X and Baby Boomers

Answer 14

Gen Z (1995-2014), Millennial (1980-1994), Gen X (1965-1979), Baby Boomer (1946-1964)

Question 15

Trends

Answer 15

Health and Wealth concerns, Greener consumers, privacy concerns