Marketing (Grewal & Levy 4th ed.) Ch. 5

Baby Boomers
p.154
Generational cohort of people born after World War II, between 1946 & 1964
Country Culture
p.150
Entails easy-to-spot visible nuances that are particular to a country, such as dress, symbols, ceremonies, languages, colors, and food preferences, and more subtle aspects, which are trickier to identify.
Culture
p.150
The set of values, guiding beliefs. understandings, and ways of doing things shared by members of a society; exists on two levels: visible artifacts (e.g. behavior, dress, symbols, physical settings, ceremonies) and underlying values (thought processes, beliefs, and assumptions).
Demographics
p.151
Information about the characteristics of human populations and segments, especially those used to identify consumer markets such as b age, gender, income, and education.
Foreign Currency Fluctuations
p.164
Changes in the value of a countries’ currency relative to the currency of another country; can influence consumer spending.
Generation X (Gen X)
p.152
Generational cohort of people born between 1965 & 1976
Generation Y (Gen Y)
p.152
Generational cohort of people born between generation 1977 & 1995; biggest cohort since the original postwar baby boom.
Generation Z (Gen Z) or Digital Natives
p.152
aka Digital Natives, because people in this group were born into a world that already was full of electronic gadgets and digital technologies, such as the internet and social networks.
Generational Cohort
p.151
A group of people of the same generation-typically have similar purchase behaviors because they have shared experiences and are in the same stage of life.
Green Marketing
p.160
Involves a strategic effort by firms to supply customers with environmentally friendly merchandise.
Greenwashing
p.160
Exploiting a consumer by disingenuously marketing products or services as environmentally friendly, with the goal of gaining public approval and sales.
Inflation
p.164
Refers to the persistent increase in the prices of goods and services.
Interest Rates
p.164
These represent the cost of borrowing money.
Macroenvironmental Factors
p.149
Aspects of the external environment that affects a company’s business, such as the culture, demographics, social issues, technological advances, economic situations and political/regulatory environment.
Millennials
p.152
Consumers born between 1977 & 2000 and the children of the Baby Boomers.
Political/Regulatory Environment
p.165
Comprises political parties, government organizations, and legislation and laws.
Regional Culture
p.150
The influence of the area within a country in which people live.