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| The benefit an organization and society receive from the organization's ethical practices, community service, efforts to promote cultural diversity, and concern the natural environment. |
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| Rules of conduct for an organization. |
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| When someone voluntarily offers payment to get an illegal advantage. |
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| When someone in authority extracts payment under duress. |
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| Written standards of behavior to which everyone in the organization must subscribe. |
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| A social movement that attempts to protect consumers from harmful business practices. |
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| The rights of consumers to be protected by the federal government. |
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| Advertising that clarifies or qualifies previous deceptive advertising claims. |
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| Claims made in advertising of product superiority that cannot be proven true or untrue. |
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| A fee paid by a manufacturer to a retailer in exchange for agreeing to place products on the retailer's shelves. |
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| A management pratice in which organizations seek to engage in activities that have a positive effect on society and promote the public good. |
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| Environmental stewardship |
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| A position taken by an organization to protect or enhance the natural environment as it conducts its business activities. |
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| A marketing strategy that supports environmentalstewardship by creating an environmentally-founded differential benefit in the minds of consumers. |
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| Marketing activities in which firms seek to have their corporate indentity linked to a good cause through advertising, public service, and publicity. |
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| A management practice that actively seeks to include people of different sexes, races, ethnic groups, and religions in an organization's employees, customers, supplies, and distribution channel partners. |
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| The flow of goods and services among different contires- the value of all the exports and imports of the world's nations. |
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| A type of trade in which goods are paid for with other items instead of with cash. |
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| A policy adopted by a government to give domestic companies an advantage. |
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| Limitations set by a government on the amount of a product allowed to enter or leave a country. |
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| A quota completely prohibiting specified goods from entering or leaving a country. |
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| Taxes are imported goods. |
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| General Agreement on Tariffs and Trade (GATT) |
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| International treaty to reduce import tax levels and trade restrictions. |
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| An organization that replaced GATT, the WTO sets trade rules for its member nations and mediates disputes between nations. |
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| Groups of countires that band together to promote trade among themselves and to make it easier for member nations to compete elsewhere. |
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| Gross domestic product (GDP) |
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Definition
| The total dollar value of goods and services produced by a nationa within its borders in a year. |
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| Gross national product (GNP) |
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| The value of all goods and services produced by a country's citizens or organizations, whether locaed within the country's borders or not. |
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| The quality of a country's distribution, financial, and communications systems. |
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| Level of economic development |
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| The boarder economic pricture of a country. |
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| Less developed country (LDC) |
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| A country at the lowest stage of economic development. |
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| An indicator of the average quality and quantity of goods and services consumed in a country. |
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| Countries in which the economy is shifting its emphasis from agriculture to industry. |
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| A country that boasts sophisticated marketing systems, strong private enterprise, and bountiful market potential for many goods and services. |
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| The overall patterns of change in the economy-including periods of prosperity, recession, depression, and recover-that affect consumer and business purchasing power. |
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| Competitive intelligence (CI) |
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Definition
| The process of gathering and analyzing publically available information about rivals. |
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| The potion of income people have left over after paying for necessities such as housing, utilities, food, and clothing. |
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| When firms offering different products compete to satisfy that same consumer needss and wants. |
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| When firms offering similar goods or services compete on the basis of their brand's reputation or perceived benefits. |
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| A market situation in which one firm, the only supplier of a particular product, is able to control the price, quality, and supply of that product. |
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| A market structure in which a relatively small number of sellers, each holding a substantial share of the market, complete in a market with many buyers. |
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| A market structure in which many firms, each having slightly different products offer unique consumer benefits. |
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| A market structure in which many small sellers, all of whom offer similar prducts, are unable to have an impact on the quality, price, or supply of a product. |
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| Legal documentation granting an individual or firm exclusive rights to produce and sell a particular invention. |
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| Federal Trade Commission Act (FTC - 1914) |
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Definition
| Created the Federal Trade Commission to monitor unfair practices. |
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| Robinson-Patman Act (1936) |
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Definition
| Prohibits price discrimination (offering different prices to competing wholesalers or retailers) unless cost-justified. |
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| Fair Packaging and Labeling Act (1966) |
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Definition
| Ensures that product packages are labeled honestly. |
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| Magnuson-Moss Consumer Product Warrenty Act (1972) |
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| Children's Television Act (1990) |
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| Limits the amount of television commercials aired on children's programs. |
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| National Do Not Call Registry (2003) |
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| Established by the FTC to allow consumers to limit number of telemarketing calls they receive. |
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| Regulates phones, radio, tv, etc. |
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| Enforces law against deceptive advertising and product labeling regulations (hard-core products). |
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