Rich Brown Marketing 2400 Test 2 Prep Questions And Answers Guaranteed Pass.
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Course
BUSI 2400
Institution
BUSI 2400
Target Market - correct answer A group of people or organizations for which an organization designs, implements, and maintains a marketing mix intended to meet the need of that group, resulting in mutually satisfying exchanges
Component lifestyles - correct a...
Target Market - correct answer A group of people or organizations for which an
organization designs, implements, and maintains a marketing mix intended to meet the need of that
group, resulting in mutually satisfying exchanges
Component lifestyles - correct answer The practice of choosing goods and services
that meet one's diverse needs and interests rather than conforming to a single, traditional lifestyle
Demography - correct answer The study of people's vital statistics, such as age, race
and ethnicity, and location
Generation Z - correct answer People born b/w 1995-2010
Millennials - correct answer People born b/w 1979-1994
Generation X - correct answer People born b/w 1965-1978
Baby boomers - correct answer People born b/w 1946-1964
Purchasing Power - correct answer A comparison of income versus the relative cost
of a standard set of goods and services in different geographic areas
Inflation - correct answer A measure of the decrease in the value of money,
expressed as the percentage reduction in value since the previous year
Recession - correct answer A period of economic activity characterized by negative
growth, which reduces demand for goods and services
, Basic research - correct answer Pure research that aims to confirm an existing
theory or to learn more about a concept or phenomenon
Applied Research - correct answer Research that attempts to develop new or
improved products
Consumer Product Safety Commission (CPSC) - correct answer A federal agency
established to protect the health and safety of consumers in and around their homes
Food and Drug Administration (FDA) - correct answer A federal agency charged with
enforcing regulations against selling and distributing adulterated, misbranded, or hazardous food and
drug products
Federal Trade Commission (FTC) - correct answer A federal agency empowered to
prevent persons or corporations from using unfair methods of competition in commerce.
Global marketing - correct answer Marketing that targets markets throughout the
world
Global Vision - correct answer Recognizing and reacting to international marketing
opportunities, using effective global marketing strategies and being aware of threats from foreign
competitors in all markets
Gross Domestic Product (GDP) - correct answer The total market value of all final
goods and services produced in a country for a given time period
Outsourcing - correct answer Sending US jobs abroad
Inshoring - correct answer Returning production jobs to the US
Multinational corporation - correct answer A company that is heavily engaged in
international trade, beyond exporting and importing
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