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Description
Flashcards by quick.silver689, updated more than 1 year ago
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Created by quick.silver689
over 8 years ago
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| Question | Answer |
| What are the six key area's in a marketing environment that marketers monitor. | Demographics forces Socio-cultural forces Economic forces Technological forces Competitive Regulatory forces |
| What is a SWOT analysis | Involves assessing internal strength and weaknesses, and external opportunities and threats. |
| The statistical study of population is knows as _____________ | Demographics |
| The four main generation groups | Baby boomers Generation X Generation Y Generation Z |
| What are socio-cultural forces? | Cultural values, ideas, and attitudes that are learned and shared among a group of people. |
| What is the difference between macro and micro economics. | Macro refers the the country's economy as a whole, while micro refers to hot individual, household, and a companies decision to purchase impacts supply and demand |
| What are a countries indicators to it's economic state? | Unemployment rate Inflation rate Economic growth rate |
| Whats is the difference between disposable income and discretionary income? | Disposable income is after-tax income that consumers have left for spending and savings, while discretionary is after-tax income left over after paying for necessities. |
| What are technological forces | Inventions or innovations that stem form scientific or engineering research that make certain technologies become obsolete |
| What's the purpose of placing regulations on marketing practicing? | To protect consumers from unscrupulous business practices and to encourage fair competition. |
| What are 5 exceptions from the Do Not Call List (DNCL) | Registered charities, Newspaper subscriptions, Political parties/candidates, Marketing research companies, Companies where business has been done int the last 18 months |
| What's the purpose of a marketing scan? | To gather facts, to determine trends, and to brainstorm on new ideas that can be implemented to build the business. |
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