MK 201 Chapter Notes - Chapter 3: Consumerism, Baby Boomers, Millennials
Document Summary
The process of acquiring information on events outside the organization to identify and interpret potential trends. The demographic characteristics and the culture of the population. Description of a population according to characteristics such as age, gender, ethnicity, income, and occupation. The generation of children born between 1946 and 1964. The generation of people born between 1965 and 1976. The 72 million americans born between 1977 and 1944. Marketing programs that reflect unique aspects of different races. The set of values, ideas, and attitudes that is learned and shared among the members of a group. Pertains to the income, expenditures, and resources that affect the cost of running a business or household. Total amount of money made in one year by a person, household, or family unit is referred to as gross income. The money a consumer has left after paying taxes to use for necessities such as food, housing, clothing, and transportation.
