Mktg 123 exam 2

Consumer Class

A global group of over 1.7 billion people characterized by high consumption levels, focusing on processed foods, large homes, vehicles, and nonessential goods.

Globalization

The process by which businesses and organizations develop international influence, affecting markets, economies, and cultures.

Public Relations (PR)

A strategic communication process that builds mutually beneficial relationships between organizations and their publics.

Consumer Relations

The management of interactions between a company and its customers to maintain satisfaction, loyalty, and trust.

Consumer-Generated Media (CGM)

Content created and shared by consumers about a brand, product, or service through social media, blogs, and review sites.

Corporate Social Responsibility (CSR)

A business model where companies integrate social and environmental concerns into their operations and stakeholder interactions.

Ombudsperson

An official or outsourced representative who handles consumer complaints and grievances within an organization.

Consumer Movement

A social and economic movement advocating for consumer protection, rights, and regulations to ensure fair business practices.

Consumer Protection Laws

Regulations designed to safeguard buyers from fraudulent, misleading, or dangerous products and services.

Digital Activism

The use of social media and digital platforms to advocate for political, social, or consumer rights and drive change.