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;
22 Cards in this Set
- Front
- Back
|
Target Market |
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 |
|
|
The Crest Model |
Competitive Regulatory Economic Social Technological |
|
|
Competition Bureau |
The federal department charged with administering most marketplace laws |
|
|
Self-regulation |
Programs voluntarily adopted by business groups to regulate the activities of their members |
|
|
Purchasing Power |
A comparison of income versus the relative cost of a set standard of goods and services in different Geographic areas |
|
|
Discretionary Income |
The amount of money people have to spend on non-essential items |
|
|
Inflation |
A measure of the decrease in the value of money, expressed as percentage reduction in value since the previous year |
|
|
Recession |
A. Of economic activity characterized by negative growth, which reduces demand for goods and services |
|
|
Environmental Factors |
Non controllable factors caused by natural disasters, which negatively or positively affect organizations |
|
|
Component Lifestyles |
Mode of living that involves 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 their age, race and ethnicity, and location |
|
|
Multiculturalism |
Refers to the peaceful and Equitable coexistence of different cultures, rather than one national culture, in a country |
|
|
Basic Research |
Pure research that aims to confirm an existing Theory or to learn more about a concept or phenomenon |
|
|
Applied Research |
An attempt by marketers to use research to develop new or improved products |
|
|
Corporate Social Responsibility |
A business's concern for society's welfare |
|
|
Triple Bottom Line |
A business philosophy seen has the pursuit of profit while also benefiting society and the environment |
|
|
Social Acceleration |
The concept of exponentially rapid growth starting with human desire for improved products, spurring the competitive pursuit of market share, driving Innovation and technology, resulting in higher standard of living, but with new socio- environmental problems |
|
|
Pyramid of Corporate Social Responsibility |
A model that suggests Corporate social responsibility is composed of economic, legal, ethical, and philanthropic responsibilities and the firm's economic performance supports the entire structure |
|
|
Green Marketing |
The development and marketing of products designed to minimize negative effects on the physical environment |
|
|
Ethics |
The moral principles or values that generally govern the conduct of an individual or group |
|
|
Morals |
The rules people develop as a result of cultural values and norms |
|
|
Code of Ethics |
A guideline to help marketing managers and other employees make better decisions |
