Updated MKTG Charles W Lamb Ch 4 & 18
Exam Questions & Verified Correct answers (100%
A+ Guarantee)
Target Market - correct answer✔✔A group of people or organizations for which an
organizatiob designs, implements, and maintains a marketing mix intended to meet the
need of that group, resulting in mutually satisfying exchanges
Component Lifestyles - correct answer✔✔The practice of choosing goods and services
that meet one's diverse needs and interests rather than conforming to a single,
traditional lifestyle
Demography - correct answer✔✔The study of people's vital statistics, such as age,
race, and ethnicity and location
Baby Boomers - correct answer✔✔People born between 1946 to 1964
Generation X - correct answer✔✔People born between 1965 and 1978
Purchasing Power - correct answer✔✔A comparison of income versus the relative cost
of a standard set of goods and services in different geographic areas
Inflation - correct answer✔✔A measure of the decrease in the value of money ,
expressed as the percentage reduction in value since the previous year
Recession - correct answer✔✔A period of economic activity characterized by negative
growth, which reduces demand for goods and services
Basic Research - correct answer✔✔Pure research that aims to confirm an existing
theory or to learn more about a concept or phenomenon
Applied Research - correct answer✔✔Research that attempts to develop new or
improved products
Consumer Product Safety Commission (CPSC) - correct answer✔✔A federal agency
established to protect the health and safety of consumers in and around their homes
Food and Drug Administration (FDA) - correct answer✔✔A federal agency charged with
enforcing regulations against selling and distributing adulterated, misbranded, or
hazardous food and drug products
Exam Questions & Verified Correct answers (100%
A+ Guarantee)
Target Market - correct answer✔✔A group of people or organizations for which an
organizatiob designs, implements, and maintains a marketing mix intended to meet the
need of that group, resulting in mutually satisfying exchanges
Component Lifestyles - correct answer✔✔The practice of choosing goods and services
that meet one's diverse needs and interests rather than conforming to a single,
traditional lifestyle
Demography - correct answer✔✔The study of people's vital statistics, such as age,
race, and ethnicity and location
Baby Boomers - correct answer✔✔People born between 1946 to 1964
Generation X - correct answer✔✔People born between 1965 and 1978
Purchasing Power - correct answer✔✔A comparison of income versus the relative cost
of a standard set of goods and services in different geographic areas
Inflation - correct answer✔✔A measure of the decrease in the value of money ,
expressed as the percentage reduction in value since the previous year
Recession - correct answer✔✔A period of economic activity characterized by negative
growth, which reduces demand for goods and services
Basic Research - correct answer✔✔Pure research that aims to confirm an existing
theory or to learn more about a concept or phenomenon
Applied Research - correct answer✔✔Research that attempts to develop new or
improved products
Consumer Product Safety Commission (CPSC) - correct answer✔✔A federal agency
established to protect the health and safety of consumers in and around their homes
Food and Drug Administration (FDA) - correct answer✔✔A federal agency charged with
enforcing regulations against selling and distributing adulterated, misbranded, or
hazardous food and drug products
