task 5

CONSUMER PSYCHOLOGY Did new consumer spending patterns during the 2008-2009 recession reflect short-term, temporary adjustments or long-term, permanent changes?39 Some experts believed the recession had fundamentally shaken consumers' faith in the economy and their personal financial situations. "Mindless" spending would be out; willingness to comparison shop, haggle, and use discounts would become the norm. Others maintained tighter spending reflected a mere economic constraint and not a fundamental behavioral change. Thus, consumers' aspirations would stay the same, and spending would resume when the economy improves. Identifying the more likely long-term scenarioespecially with the coveted 18- to 34-year-old age groupwould help to direct how marketers spend their money. After six months of research and development in the baby boomer market, Starwood launched a "style at a steal" initiative to offer affordable but stylish hotel alternatives to its high-end W, Sheraton, and Westin chains. Targeting an audience seeking both thrift and luxury, it introduced two new low-cost chains: Aloft, designed to reflect the urban cool of loft apartments, and Element, suites with every "element" of modern daily lives, including healthy food choices and spa-like bathrooms.

There are four types of industrial structures: subsistence economies like Papua New Guinea, with few opportunities for marketers; raw-material-exporting economies like Democratic Republic of Congo (copper) and Saudi Arabia (oil), with good markets for equipment, tools, supplies, and luxury goods for the rich; industrializing economies like India, Egypt, and the Philippines, where a new rich class and a growing middle class demand new types of goods; and industrial economies like Western Europe, with rich markets for all sorts of goods.

41. Regular credit accounts are sometimes called open accounts because they allow

42. What do many individuals establish when planning for future financial needs?

43. Ian's employer electronically places Ian's paycheck directly into his bank checking account every pay

period. In what column on Ian's bank statement will he find these transactions?

44. Which of the following is the most likely action that the government takes when a person misses the

deadline for filing his/her income tax return:

45. The section of the marketing plan that should address where the business will be located is the

__________ section.

46. Two employees used a business's computerized accounting system to change some records. They were

able to steal $50,000 from the business because the accounting system lacked which of the following:

47. An estimate of a business's income and expenses for a specified period of time is a(n)

48. What is an indicator of strong organizational ethics?

49. A computer program that captures the knowledge of experienced workers is known as a(n)

50. Because Robert is up for a promotion and wants to impress his manager, he will not share with his

coworkers the tacit knowledge that helps him efficiently perform his job. Robert's reason for not sharing

the information relates to