Chp. 5 Flashcards
macroenvironmental factors
aspects of the external env. that affect a company’s business such as the culture, demographics, social issues, technological advances, economic situation, and political/regulatory environment
country culture
entails easy-to-spot visible nuances that are particular to a country such as dress. symbols, ceremonies, language, colors, and food preferences, and more subtle aspects, which are trickier to identify
regional culture
the influence of the area within a country in which people live
demographics
info about the characteristics of human populations especially those used to identify consumer markets such as by age, genes, income, and education
generational cohort
a group of people of the same generation-typically have similar purchase behaviors because they have shared experiences and are in the same state of life
generation Z
also known as Digital Natives, because people in this group were born into a world that already was full of electronic gadgets and digits; technologies, such as the internet and social networks
Generation Y
generational cohort of people born between 1977 and 1995; biggest cohort since the original postwar babyboomers
millenials
consumers born between 1977 and 2000 and the children of babyboomers
Generation X
generational cohort of people born between 1965 and 1976
baby boomers
generational cohort of people born after World War II, between 1946 and 1964
green marketing
involves a strategic effort by firms to supply customers with environmentally friendly merchandise
greenwashing
exploiting a consumer by disingenuously marketing products or services as environmentally friendly, with the goal of gaining public approval and sales
inflation
refers to the persistent increase in the prices of goods and services
foreign currency fluctuations
changes in the value of a countries currency relate to the currency of another country; can influence customer spending
interest rates
these represent the cost of borrowing money
