Chapter 5 Flashcards

1
Q

Marketing revolves around

A

customers/consumers

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2
Q

Microenvironment = _______, ___________, and _______

A

Company, competition, and corporate partners

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3
Q

Macroenvironment = six areas

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

Bottled water (discussed in class)

A

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

Core competency > applied to > new markets

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5
Q

Culture =

A

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

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6
Q

Country culture

A

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

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7
Q

Regional culture

A

specific to a geographic area

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8
Q

Coffee trends in US (discussed in class)

A

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

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9
Q

Political/regulatory environment

A

government regulates

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10
Q

Demographics

A

most common form of segmentation because readily available

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11
Q

Gender and age

A

male/female roles have been shifting

marketing has changed to reflect these shifts

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12
Q

Income

A

Purchasing power is tied to income

families need same things but spend different amounts on essentials

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13
Q

Education

A

related to income, which determines spending power

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14
Q

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

A

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

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15
Q

Trends

A

Health and Wealth concerns, Greener consumers, privacy concerns

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