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Chapter 1-3 Final Exam Study Guide

Purposeful work where have control millennial is used

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Purposeful work where have control . Millennial is used for younger Generation Y members Because the members of each generation are distinctive in their attitudes and consumer behavior, marketers have been studying the many groups or cohorts that make up the marketplace and have developed generational marketing programs for them. Population Shifts: 2 types of statistical areas to classify for marketers Metropolitan : urbanized 50,000 or more people with adjacent area that has a high degree of social and economic integration Micropolitan : 10,000-50,000 people. Adjacent area with high degree of integration If >2.5 million, metropolitan division are created to subdivide for marketing Racial and Ethnic Diversity Growing size impacting marketplace, so multicultural marketing combines the marketing mix that reflect the unique attitudes, ancestry, communication preference, and lifestyles of different races. Because businesses must now market their products to a consumer base with many racial and ethnic identities, in-depth marketing research that allows an accurate understanding of each culture is essential Culture incorporates the set of values, ideas, and attitudes that is learned and shared among the members of a group. Influences buying patterns. TECHNOLOGICAL FORCES (3
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