Marketing Chapter 4

a group of people or organizations for which an organization designs, implements, and maintains a marketing mix intended to meet the need of that group resulting in mutually satisfying exchanges

• target market

• component lifestyle

• environmental management

• demography

the practice of choosing goods and services that meet one's diverse needs and interests rather than conforming to a single, traditional lifestyle

• target market

• component lifestyle

• environmental management

• demography

when a company implements strategies that attempt to shape the external environment within which it operates 

• target market

• component lifestyle

• environmental management

• demography

the study of people's vital statistics, such as age, race and ethnicity and location

• target market

• component lifestyle

• environmental management

• demography

people born between 1979 and 1994

• tweens

• generation Y

• Generation X

• Baby Boomers

people born between 1965 and 1978

• tweens

• generation Y

• Generation X

• Baby Boomers

people born between 1946 and 1964

• tweens

• generation Y

• Generation X

• Baby Boomers

a comparison of income versus the relative cost of a standard set of goods and services in different geographic areas

• purchasing power

• inflation

• recession

• applied  research

a measure of the decrease in the value of money, expressed as the percentage reduction in value since the previous year

• basic research

• inflation

• recession

• applied  research

a period of economic activity characterized by a negative growth, which reduces demand for goods and services

• basic research

• inflation

• recession

• applied  research