CH02

SOCIAL FORCES • Demographics
Population Shifts
• Statistical Areas • Metropolitan Statistical Area • Micropolitan Statistical Area • Metropolitan Divisions • Combined Statistical Areas
changing rapidly due to the increases in the African American, Asian, and Hispanic populations, which increases their economic impact. (2) An accurate understanding of the culture of each group is essential if marketing efforts are to be successful.
Concept Check
1. Describe three generational cohorts. A: (1) Baby boomers is the generation born between 1946 and 1964. (2) Generation X is the 15 percent of the U.S. population born between 1965 and 1976. (3) Generation Y is the 72 million Americans born between 1977 and 1994.
SOCIAL FORCES • Demographics
Racial and Ethnic Diversity
• Multicultural Marketing
• Culture
Changing Values
Concept Check
2. Why are many companies developing multicultural marketing programs? A: (1) The racial and ethic diversity of the U.S. is
Concept Check
2. How does technology impact customer value? A: (1) Consumers assess value on the basis of other
dimensions, such as quality, service, and relationships, due to the decline in the cost of technology. (2) Technology provides value through the development of new products. (3) Technology has changed the way existing products are produced through recycling and precycling.
Concept Check
3. How does the Better Business Bureau encourage companies to follow its standards for commerce? A: Companies must agree to follow BBB standards before they are allowed to display the BBB logo.
ENVIRONMENTAL SCANNING IN THE NEW MILLENNIUM • Environmental Scanning: The process of continually acquiring information on events occurring outside the organization to identify and interpret potential trends is called environmental scanning. • An Environmental Scan of Today’s Marketplace
Concept Check
1. What is the difference between a consumer’s disposable and discretionary income? A: Disposable income is the money a consumer has left after paying taxes to use for food, clothing, and shelter. Discretionary income is the money that remains after paying taxes for necessities.
SOCIAL FORCES • Social Forces • Demographics
The World Population at a Glance The U.S. Population Generational Cohorts
• Baby Boomers • Generation X • Generation Y • Millennials • Generational Marketing
Concept Check
3. How are important values such as “health and fitness” reflected in the marketplace today. A: Millions of Americans are trying to live a
healthier lifestyle. In response, companies have developed vitamins, exercise equipment, fitness drinks, magazines, and other products to target these consumers.
Concept Check
2. Describe some of the recent changes in trademark law. A: The Trademark Law Revision Act (1988)
allows companies to secure rights to a name before its actual use by declaring an intent to use the name. Also, the U.S. Supreme Court recently ruled that a company now may obtain trademarks for colors associated with their products.
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