What are two potential drawbacks of creating separate products and marketing programs for each generation? Answer: A brand’s image could be damaged if members of one generation respond negatively to a marketing campaign designed to appeal to members of another generation. Each generation spans decades of time, so members of one generation are actually at diverse life stages. 2) How do baby boomers today differ from previous generations as they neared and reached their sixties?
Answer: Baby boomers are more likely to retire later and to org more after retiring; instead of seeing themselves as getting older, the baby boomers see this as another new phase of life with opportunities for reinvention. 3) Why might marketers want to target segments of the population based on lifestyles rather than age groups? Answer: Too much might be assumed about people in the same age group, and grouping people by lifestyle may eliminate some of the inaccurate assumptions made regarding age. ) How might geographic shifts in population impact marketers? Answer: People in different regions buy differently. If tastes and preferences are taken with consumers as they disperse geographically at increasing rates, predicting specific consumption patterns in certain geographic areas may become difficult over time. 5) Why might it be beneficial for marketers to help develop solutions to problems facing the natural environment, such as increased pollution and shortages of raw material?
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Answer: Marketers who help to develop solutions to these problems can main the advantage of becoming market leaders, as increasingly strict environmental regulations can be expected in the United States and elsewhere. Environmentally responsible actions will help a company’s public image; they will also help to create a more sustainable market. 6) One purpose of government regulation is to protect consumers from unfair business practices. List two areas in which unfair business practices may occur.
Answer: Some firms, if left to their own devices, may produce shoddy products, aisled consumers in their advertising, or deceive consumers through packaging and pricing in order to increase profits. 7) How might a marketer act in a socially responsible way toward the general public? Answer: Marketers may work to protect the long-run interests of their consumers and the environment by making products safer, interacting responsibly with the natural environment, and supporting social organizations through cause-related marketing. 8) What is the difference between a core belief and a secondary belief?