BU352 F22 (100% Error-free Answers) 2024.

What are the three factors that affect consumers microenviroment, illustrate how they affect it correct answers company capabilities: need to match competencies with customer needs competition: can affect purchasing options corporate partners: can deliver/not deliver on company promises List the factors in the firm's macroenvironment correct answers CDSTEP 1. culture 2. demographics 3. social/natural trends 4. tech advances 5. economic situiaton 6. Political/legal environment What are the two dimensions of culture that marketers must take into account? correct answers 1. Country culture 2. Regional subculture Give an example of a difference in regional subculture correct answers Quebec: soft drink British Colombia: pop Ontario: soda What is the key challenge with marketing to millennials? correct answers If they believe the sell is "too hard", they aren't gonna buy What's the key marketing strategy for GenXers correct answers WOM advertising from people they know and trust What are the 5 main demographic actors we cover in Ch.3 correct answers 1. Education 2. Age 3. Gender 4. Income 5. Ethnicity List out and describe the major social and natural trends that impact marketing decisions correct answers 1. greener consumers: yeah 2. marketing to children: 3. privacy concerns: we act like we care 4. time-poor society: many people multitask bc of it, also 1/4 work 10 hrs a day (damn) 5. health and wellness concerns Which generation apparently is the only one that balances work-life? correct answers Gen Y, Gen Z wants to bow down to our corporate overlords What generation is much less interested in status products? correct answers Gen X