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Marketing > marketing ch.3 > Flashcards

marketing ch.3 Flashcards

0
Q

Baby boomers

A

Wealthiest generation

50% of consumption

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1
Q

5 sources of environmental force

A 
Social
Economic
Technological
Competitive
Regulatory
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2
Q

Generation x

A

Cautious lifestyles

Business travelers

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3
Q

Generation Y

A

Baby boomers kids
Work life balance
Sports/computers/videogames

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4
Q

Generational marketing programs

A

Based on generational traits

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5
Q

Multi cultural marketing

A

Uses marketing mix to refelct unique culture of a racial group

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6
Q

Value consciousness

A

Careful about getting best quality per dollar.

++ in a recession

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7
Q

3 parts if consumer income

A

Gross
Disposable
Discretionary

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8
Q

Gross income

A

Total per year

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9
Q

Disposable income

A

Gross-taxes- necessities

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10
Q

Discretionary

A

The money left over for luxury

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11
Q

Market space

A

Electronic exchange environent

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12
Q

Electronic commerce

A

Activities that use electronic communication for commerce

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13
Q

Four forms of competition

A

Pure
Monopolistic
Oligopoly
Pure monopoly

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14
Q

Pure competition

A

Many sellers selling similar product

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15
Q

Monopolistic competition

A

Many sellers selling substitutable products in same price rang

Coupons very common

Ie tea v coffee

16
Q

Oligopoly

A

Few orgs run entire industry

17
Q

Pure monopoly

A

One firm sells the product

18
Q

Slow growth means what for competition

A

More heated

19
Q

Sherman antitrust act

A

Forbids combos in restraint of trade

20
Q

Robinson patman act

A

Unlawful to discriminate prices

21
Q

Patent law

A

Inventors have right to exclude others from using/selling idea

22
Q

Digital millenium copyright act

A

Protects digital products

23
Q

Consumerism

A

Increased consumer power when dealin with sellers/institutions

24
Q

Trademarks

A

Protects consumers and sellers. Consumers know the brand they trust. Sellers investments protected

25
Q

Lanhan act

A

Provides for registration of tms

26
Q

Price fixing

A

Illegal

27
Q

Price discounting

A

Legal for matching prices in good faith or charging less for larger quantities

28
Q

Exclusive dealing

A

Reseller sell only your product, not competitors.

Illegal under clayton act if it substantially decreases competition

29
Q

Requirement contracts

A

Requires a certain amount to be purchased for a time period.

Sometime legal

30
Q

Territorial distributorship

A

Gives distributor sole tight to sell in area.

Usually legal

31
Q

Tying arrangment

A

To buy one product you must also buy the other

Illegal if seller can restrain trade of tied product

32
Q

Federal trade commission

A

Orders cease and desists

Orders corrective advertising

33
Q

Self regulation

A

Industry sets own policies

Ex. Tv or better businesses bureau

Marketing (18 decks)

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