Reading...
Play button
Play button
Use LEFT and RIGHT arrow keys to navigate between flashcards;
Use UP and DOWN arrow keys to flip the card;
H to show hint;
A reads text to speech;
15 Cards in this Set
- Front
- Back
|
Target Market
|
A defined group most likely to buy a firm's product
|
|
|
Environmental Management
|
When a company implements strategies that attempt to shape the external environment within which it operates.
|
|
|
Component Lifestyles
|
The practice of choosing goods and services that meet one's diverse needs and interests rather than conforming to a single, traditional lifestyle.
|
|
|
Demography
|
The study of people's vital statistics, such as age, race, and ethnicity, and location.
|
|
|
Generation Y
|
People born between 1979 and 1994
|
|
|
Generation X
|
People born between 1965 and 1978
|
|
|
Baby Boomers
|
People born between 1946 and 1964
|
|
|
Purchasing Power
|
A comparison of income versus the relative cost of a set standard of goods and services in different geographic areas.
|
|
|
Inflation
|
A measure of the decrease in the value of money, expressed as the percentage reduction in value since the previous year.
|
|
|
Recession
|
A period of economic activity characterized by negative growth, which reduces demand for goods and services
|
|
|
Basis Research
|
Pure research that aims to confirm an existing theory or to learn more about a concept or phenomenon.
|
|
|
Applied Research
|
An attempt to develop new or improved products
|
|
|
Consumer Product Safety Commission (CPSC)
|
A federal agency established to protect the health and safety of consumers in an around their homes.
|
|
|
Food and Drug Administration (FDA)`
|
A federal agency charged with enforcing regulations against selling and distributing adulterated, misbranded, or hazardous food and drug products.
|
|
|
Federal Trade Commission (FTC)
|
A federal agency empowered to prevent persons or corporations from using unfair methods of competition in commerce.
|
