BU352 Chapter Notes - Chapter 3: Baby Boomers, Competitive Intelligence, Millennials
Document Summary
Bu352 ch3 analyzing the marketing environment: key terms from textbook. Baby boomers: generational cohort of people born after world warii until 1965. Competitive intelligence (ci): used by firms to collect and synthesize information about their position with respect to their rivals; enables companies to anticipate changes in the marketplace rather than merely react to them. Culture: the shared meanings, beliefs, morals, values, and customs of a group of people. Demographics: characteristics of human populations and segments, especially those used to identify consumer markets, such as age, gender, income, race, ethnicity, and education. Economic situation: economic changes that affect the way consumers buy merchandise and spend money; see inflation, foreign currency fluctuations, interest rates, and recession. Foreign currency fluctuations: changes in the value of a country"s currency relative to the currency of another country; can influence consumer spending. Generation x: generational cohort of people born between 1966 and 1971. Generation y / millennials: generational cohort of people born between 1972 and.
