Terminology 1
_____ ____ Includes the generation of 73 million children born between 1946 and 1964.
Baby Boomers
______ is a grassroots movement started in the 1960s to increase the influence, power, and rights of consumers in dealing with institutions.
Consumerism
_____ is the moral principles and values that govern the actions and decisions of an individual or group.
Ethics
______ is a statement of the organization’s function in society that often identifies its customers, markets, products, and technologies. Often used interchangeably with vision.
Mission
____ ___ is a family formed by merging two previously separated units into a single household
Blended Family
____ ____ ___ is the process of identifying prospective buyers, understanding them intimately, and developing favorable long-term perceptions of the organization and its offerings so that buyers will choose them in the marketplace and become advocates after their purchase
Customer Relationship Management
____ ____ Includes the 75 million Americans born between 1977 and 1994. Also called the echo-boom.
Generation Y
_______ is a good, service, or idea consisting of a bundle of tangible and intangible attributes that satisfies consumers’ needs and is received in exchange for money or something else of value.
Product
_____ ____ Occurs when the charitable contributions of a firm are tied directly to the customer revenues produced through the promotion of one of its products.
Cause Marketing
______ is describing a population according to selected characteristics such as age, gender, ethnicity, income, and occupation.
Demographics
____ ____ Includes the 50 million people born between 1965 and 1976. Also called the baby bust.
Generation X
_____ ____ an acronym describing an organization’s appraisal of its internal Strengths and Weaknesses and its external Opportunities and Threats.
SWOT Analysis
_____ _____ is the legal concept of “let the buyer beware” that was pervasive in the American business culture prior to the 1960's
Caveat Emptor
____ ____ is the money a consumer has left after paying taxes to use for necessities such as food, housing, clothing, and transportation.
Disposable Income
_______ is the activity, set of instructions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large.
Marketing
______ is a personal moral philosophy that focuses on “the greatest good for the greatest number” by assessing the costs and benefits of the consequences of ethical behavior.
Utilitarianism
__ _ ___ is a formal statement of ethical principles and rules of conduct.
Code of Ethics
_____ _____ is the uncontrollable forces that affect a marketing decision and consist of social, economic, technological, competitive, and regulatory forces.
Environmental Forces
______ ______ is a road map for the marketing actions of an organization for a specified future time period, such as one year or five years.
Marketing Plan
_____ ____ is the concern for obtaining the best quality, features, and performance of a product or service for a given price that drives consumption behavior.
Value Consciousness