MKT 3401 Chapter : Ch 4

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15 Mar 2019
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Importance: unless marketing managers understand the external environment, the firm cannot intelligently plan for the future. Target market: a defined group most likely to buy a product, changes as consumers age, external elements change consumers" desires, factors used to define it social. The influences of values on buying habits: reliability, durability, easy maintenances, ease of use, trusteed brand name, low price. Component lifestyles: choosing goods/services that meet one divers needs and interests. Demographic factors: explain the importance to marketing managers of current demographics, relate to buyer behavior. Tweens: pre-adolescent ages 8-12, population of 20 million, directly spend billion annually, parents spend billion annually, view tv as just advertising. Teens: population of 25 million, 93 percent of u. s. teens are on the internet, view shipping as a social sport. Generation y: born between 1979-1994, surpassed population of baby boomer, two stages those born in 1994 fit closer to the teen cohort.

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