MKT 300 1nd Edition Lecture 5 Outline of Last Lecture VI Chapter 3 Terms part 1 VII Chapter 3 Concepts to Apply part 1 Outline of Current Lecture VIII Chapter 3 Terms part 2 IX Chapter 3 Concepts to Apply part 2 Current Lecture VIII Chapter 3 Terms part 2 Senior citizens People over 65 Baby boomers Drive the graying of America Born between 1946 1964 began to reach age 65 in 2011 Generation X Born immediately following boomers 1965 1977 Much smaller than boomers Good education Generation Y Millennials born between 1978 and 1994 Emerged from the echo boom boomers had kids Generation Z Born since 1995 Digital natives use technology Ethnically diverse Have realistic views of the world LOHAS Lifestyles Of Health and Sustainability Work and bike to things Clean earth yoga culture Sustainability The idea that it s important to meet present needs without compromising the ability of future generations to meet their own needs GE light bulbs which use less energy These notes represent a detailed interpretation of the professor s lecture GradeBuddy is best used as a supplement to your own notes not as a substitute Strategic business unit SBU When companies have very different products they often split the business into SBU to market them differently and report them differently Also allows us to see what is working and what isn t US laws encourage competition Key laws Sherman Act 1890 Clayton Act 1914 Federal Trade Commission Act 1914 Robinson Pat Man Act 1936 Wheeler Lea Amendment 1938 Anti merger act 1950 Magnusson Moss Act 1975 Legal environment consumer protection agencies Food and Drug Administration Consumer Product Safety Commission Cultural and social changes are tougher Women on Delmont ketchup Ellen Degenerous spokesperson of Olay IX Chapter 3 Concepts to apply part 2 How do competitive barriers affect strategy You want to strategize to avoid competitive barriers Provide at least 3 examples of how the declining middle class may affect marketing decisions in the US Market w price savings i e coupons Holiday sales selling in bulk Give an example of how a population shift may change cultural norms not the one given in lecture pick a product of brand and describe how it would be affected by that change Recent population change shows growth in the Southwest and Southeast growth in flip flop market air conditioners Review the legislation prohibiting anticompetitive behavior and deceptive practices Given these laws why do we still see false advertising claims deceptive packaging and predatory pricing Companies manipulate their actions to follow the rules by still being deceptive
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