MKT 300 1nd Edition Lecture 5Outline 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 LectureVIII. Chapter 3 Terms (part 2)• Senior citizensPeople over 65• Baby boomersDrive the graying of America Born between 1946-1964, began to reach age 65 in 2011• Generation XBorn immediately following boomers, 1965-1977Much smaller than boomers Good education• Generation YMillennials, born between 1978 and 1994 Emerged from the echo boom (boomers had kids)• Generation ZBorn since 1995Digital natives-use technology Ethnically diverseHave realistic views of the world • LOHASLifestyles 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 SBUWhen 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 competitionKey lawsSherman Act 1890Clayton Act 1914Federal Trade Commission Act 1914Robinson Pat Man Act 1936Wheeler Lea Amendment 1938Anti-merger act 1950Magnusson Moss Act 1975 Legal environment consumer protection agenciesFood and Drug AdministrationConsumer Product Safety Commission • Cultural and social changes are tougherWomen 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 USMarket 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 bythat change: ◦ Recent population change shows growth in the Southwest and Southeast…growth in flip flop market, air conditionersReview the legislation prohibiting anticompetitive behavior and deceptive practices. Given these laws, why do we still see false advertising claims, deceptive packaging andpredatory pricing? Companies manipulate their actions to follow the rules by still being
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