MKT Terms (Chapter 3)

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Marketing

25 Terms

1

Suppliers

________: a person or business that provides a product or service to another entity.

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2

Millennials

________: (or generation y): the 75 million people of the baby boomers born between 1981 and 1966.

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3

Competitors

________: other businesses who offer the same or similar goods or services to your customers.

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4

Demographic

________: changes in marketing strategies (who you are targeting) gender, race, age, location, etc.

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5

Customers

________: people who buy a product or service.

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6

Publics

________: a group of people who has interest and impact on the ability of the organization to achieve the companys growth and goal.

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7

Cultural

________: markets are socially responsible.

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8

Baby boomer

________: 72 million people born during the years following World War 2 and lasting until 1964.

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9

Generation X

________: the 55 million people born between 1965 and 1980 in the "birth death "following the baby boom.

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10

Generation Alpha

________: kids born after 2012, largely the children of the millennials.

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11

Baby boomer

72 million people born during the years following World War 2 and lasting until 1964

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12

Generation X

the 55 million people born between 1965 and 1980 in the "birth death" following the baby boom

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13

Generation Z

people born between 1997 and 2012 who make up the tweens to twenty-something markets

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14

Generation Alpha

kids born after 2012, largely the children of the millennials

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15

Suppliers

a person or business that provides a product or service to another entity

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16

Marketing intermediaries

firms that help the company to promote, sell, and distribute its goods to final buyers

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17

Competitors

other businesses who offer the same or similar goods or services to your customers

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18

Publics

a group of people who has interest and impact on the ability of the organization to achieve the companys growth and goal

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19

Customers

people who buy a product or service

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20

Demographic

changes in marketing strategies (who you are targeting) gender, race, age, location, etc

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21

Economic

economic factors that affect consumer purchasing power

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22

Natural

concern for the natural environment

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23

Technological

forces that create new technologies, creating new product and marketing opportunities

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24

Political

laws, government agencies, pressure groups

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25

Cultural

markets are socially responsible

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