Chapter 4 Homework
1.) List and describe the four basic values that have strongly influenced American’s attitudes and lifestyles. There are four basic values that have strongly influenced American’s attitudes and lifestyles.
Self-Sufficiency: This value refers to a person being dependant on himself and not requiring outside help for survival.
Upward Mobility: This value is defined by Merriam-Webster’s dictionary by the capacity or facility for rising to a higher social or economic position. An examples of this value would be a person working hard, going to college, and being a law abiding citizen who rises to a higher social though his successful career.
Work Ethic: This is a value that is based on hard work and perseverance. This could also be characteristics built upon hard work such as moral values, self-initiative or a persons’ reliability.
Conformity: This value is based on characteristics that individuals perceive to be normal in society. Example: No one expects to be treated differently from everyone else.
2.) Who are baby boomers and why are they so important to marketers? The baby boomers are known as people whom were born between 1946 and 1964. It is estimated that there is over 75 million baby boomers and today their age ranges from the mid-60’s to late 40’s according to Lamb/Hair/McDaniel MKTG 5. The baby boomers market is huge and fast growing as they will remain the largest demographic group as well as becoming the largest generation of retirees. There are many different types of services being.
3.) There are several federal laws that affect marketing regarding the competitive environment, pricing practices, and false advertising. Name and briefly describe three of these federal laws. Sherman Act of 1890 – This act prohibits agreements in restraint of trade such as price fixing, refusals to deal, bid-rigging and etc. It also forbids monopolies or...