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Understanding Marketing Concepts Review Flashcards | StudBud
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Understanding Marketing Concepts Review
Understanding Marketing Concepts Review
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1
The four factors of PEST are
•Political•Economic•Socio-cultural•Tests
•Party•Economic•Socio-cultural•Technological
•Political•Education•Socio-cultural•Technological
•Political•Economic•Socio-cultural•Technological
2
The total or gross amount of income received from all sources by the population as a whole.
Personal income
Generation Y
Market segmentation
Baby boom generation
3
The money that an individual has to spend or save after buying necessities .
Market segmentation
Discretionary income
Disposable income
Personal income
4
People who were born in the United States between 1946 and 1964
Personal income
Generation X
Generation Y
Baby Boom Generation
5
The separating of the total consumer market into smaller groups.
Market segmentation
Generation X
Generation Y
Baby boom generation
6
The amount of money a person has left to spend or save after paying taxes.
Baby boom generation
Personal income
Market segmentation
Disposable income
7
The "baby boomlet" group, born from 1966 to 1976
Generation X
Personal income
Generation Y
Baby Boom Generation
8
The second "baby boomlet" group, born from 1977 to 1987.
Generation Y
Generation X
Personal income
Baby Boom Generation
9
A specific group of people that a business is trying to reach
Disposable income
Target market
Personal income
Inflation
10
Statistics about consumers are based on their knowledge, attitudes, and response to a product.
Psychographics
Geographics
Personal income
Generation X
11
The value of the dollar as it relates to the number of goods or services it will buy.
Purchasing power
Disposable income
Recession
Inflation
12
Statistics about where people live.
Generation X
Psychographics
Geographics
Personal income
13
The three C's associated with the SWOT analysis are
–Cars–Customers–Competition
–Company–Cakes–Competition
–Company–Customers–Class
–Company–Customers–Competition
