Chapter 2

Question 1

Target Market

Answer 1

group of potential customers most likely to buy product
organizes, designs, implemented and maintains marketing mix intended to meet needs of groups
-alter mix to keep with target market as it matures

Question 2

environmental mamagement

Answer 2

• company implements strategies to shape external environment of market
• influence by lobbying but mostly just adapt, know how to react

Question 3

What are the three social factors?

Answer 3

Values, Lifestyles, and Families

Question 4

Values

Answer 4

attitudes, “university culture” that influence behavior,
Cdn: self sufficiency, upward mobility, work ethic, fairness(Canadians are tolerant and respectful
-like quality products, trust and ease of use

Question 5

Lifestyles

Answer 5

component lifestyle, how can be in more that one and increase and complicate buying behavior
require different marketing mix

Question 6

Families

Answer 6

care and increse socialization, componentof families has changed
lots of love, time and money in short supply (ex women buy mens underwear)

Question 7

Demographic Factors

Answer 7

strongly related to consumer behavoir,

Have to do with generations

Question 8

Gen X:

Answer 8

time poor, cynical, outsource, savvy=services

7 million, may not retire, support kids

Question 9

Gen Y:

Answer 9

1979-94
-early career, entrepreneurial, work/life balance, opinionated, increase networking, social media, time management, spend lavishly, socially rest.

Question 10

Baby Boomers:

Answer 10

active, affluent, contrasting, luxury items and children’s education (Harleys)

Question 11

Tweens and Teens:

Answer 11

purchase influence and power, key influences n family, increase access to info, can be good and bad

Question 12

what is another factor?

Answer 12

Population shifts

Question 13

Population shifts

Answer 13

50% of Canadians live in To, MO, CG, VN
90% of immigrants move there so diverse, multicultural market
in marketing, size matters ex. drugs