Flashcards
Principle of Marketing Chapter 2
Cards in this deck (12)
- 1What 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 - 2What is a SWOT analysisInvolves assessing internal strength and weaknesses, and external opportunities and threats.
- 3The statistical study of population is knows as _____________Demographics
- 4The four main generation groupsBaby boomers
Generation X
Generation Y
Generation Z - 5What are socio-cultural forces?Cultural values, ideas, and attitudes that are learned and shared among a group of people.
- 6What 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
- 7What are a countries indicators to it's economic state?Unemployment rate
Inflation rate
Economic growth rate - 8Whats 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.
- 9What are technological forcesInventions or innovations that stem form scientific or engineering research that make certain technologies become obsolete
- 10What's the purpose of placing regulations on marketing practicing?To protect consumers from unscrupulous business practices and to encourage fair competition.
- 11What 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 - 12What'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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- 1 Principle of marketing Flashcards on Principle of Marketing Chapter 2, created by quick.silver689 on 19/10/2015.
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