principles
a group of people or organizations for which an organization designs, implements, and maintains a marketing mix intended to meet the needs of that group, resulting in mutually satisfying exchanges
What is target market?
people born between 1965 and 1980
What is generation x?
pure research that aims to confirm an existing theory or to learn more about a concept or phenomenon
What is basic research?
the practice of choosing goods and services that meet one’s diverse needs and interests rather than conforming to a single, traditional lifestyle
What is component lifestyle?
people born between 1946 and 1964
What is baby boomers?
research that attempts to develop new or improved products
What is applied research?
the study of people’s vital statistics, such as age, race and ethnicity, and location
What is demography?
a comparison of income versus the relative cost of a standard set of goods and services in different geographic areas
What is purchasing power?
a federal agency charged with enforcing regulations against selling and distributing adulterated, misbranded, or hazardous food and drug products
Hint (FDA)
What is food and drug administration?
people born between 1997 and 2012
What is generation z?
a measure of the decrease in the value of money, expressed as the percentage reduction in value since the previous year
What is inflation?
a federal agency empowered to prevent persons or corporations from using unfair methods of competition in commerce
Hint (FTC)
What is federal trade commission?
people born between 1981 and 1996
What is millennials?
a period of economic activity characterized by negative growth, which reduces demand for goods and services
What is recession?
a federal agency established to protect the health and safety of consumers in and around their homes
(hint (CPSC)
What is consumer product safety commission?