Term
|
Definition
| the process of collecting information about forces in the marketing environment |
|
|
Term
|
Definition
| the process of assessing and interpreting the information gathered through environmental scanning |
|
|
Term
|
Definition
| other organizations that market products that are similar to or can be substituted for a marketer's products in the same geographic area |
|
|
Term
|
Definition
| firms that market products with similar features and benefits to the same customers at similar prices |
|
|
Term
|
Definition
| firms that compete in the same product class but market products with different features, benefits, and prices |
|
|
Term
|
Definition
| firms that provide very different products that solve the same problem or satisfy the same basic customer need |
|
|
Term
|
Definition
| firms that compete for the limited financial resources of the same customers |
|
|
Term
|
Definition
| a competitive structure in which an organization offers a product that has no close substitutes, making that organization the sole source of supply |
|
|
Term
|
Definition
| a competitive structure in which a few sellers control the supply of a large proportion of a product |
|
|
Term
|
Definition
| a competitive structure in which a firm has many potential competitors and tries to develop a marketing strategy to differentiate its product |
|
|
Term
|
Definition
| a market structure characterized by an extremely large number of sellers, none strong enough to significantly influence price or supply |
|
|
Term
|
Definition
| a pattern of economic fluctuations that has four stages: prosperity, recession, depression, and recovery |
|
|
Term
|
Definition
| a stage of the business cycle characterized by low unemployment and relatively high total income, which together ensure high buying power (provided the inflation rate stays low) |
|
|
Term
|
Definition
| a stage of the business cycle during which unemployment rises and total buying power declines, stifling both consumer and business spending |
|
|
Term
|
Definition
| a stage of the business cycle when unemployment is extremely high, wages are very low, total disposable income is at a minimum, and consumers lack confidence in the economy |
|
|
Term
|
Definition
| a stage of the business cycle in which the economy moves from recession or depression toward prosperity |
|
|
Term
|
Definition
| resources, such as money, goods, and services, that can be traded in an exchange |
|
|
Term
|
Definition
| for an individual, the amount of money received through wages, rents, investments ,pensions, and subsidy payments for a given period |
|
|
Term
|
Definition
|
|
Term
|
Definition
| disposable income available for spending and saving after an individual has purchased the basic necessities of food, clothing, and shelter |
|
|
Term
|
Definition
| the accumulation of past income, natural resources, and financial resources |
|
|
Term
|
Definition
| an inclination to buy because of expected satisfaction from a product, influenced by the ability to buy and numerous psychological and social forces |
|
|
Term
| Sherman Antitrust Act (1890) |
|
Definition
| prohibits contracts, combinations, or conspiracies to restrain trade; establishes as a misdemeanor monopolizing or attempting to monopolize |
|
|
Term
|
Definition
| prohibits specific practices such as price discrimination, exclusive-dealer arrangements, and stock acquisitions whose effect may noticeably lessen competition or tend to create a monopoly |
|
|
Term
| Federal Trade Commission Act (1914) |
|
Definition
| created the Federal Trade Commission; also gives the FTC investigatory powers to be used in preventing unfair methods of competition |
|
|
Term
| Robinson-Patman Act (1936) |
|
Definition
| prohibits price discrimination that lessens competition among wholesalers or retailers; prohibits producers from giving disproportionate services or facilities to large buyers |
|
|
Term
|
Definition
| prohibits unfair and deceptive acts and practices regardless of whether competition is injured; places advertising of foods and drugs under the jurisdiction of the FTC |
|
|
Term
|
Definition
| provides protection for and regulation of brand names, brand marks, trade names, and trademarks |
|
|
Term
| Celler-Kefauver Act (1950) |
|
Definition
| prohibits any corporation engaged in commerce from acquiring the whole or any part of the stock or other share of the capital assets of another corporation when the effect would substantially lessen competition or tend to create a monopoly |
|
|
Term
| Fair Packaging and Labeling Act (1966) |
|
Definition
| prohibits unfair or deceptive packaging or labeling of consumer products |
|
|
Term
| Magnuson-Moss Warranty (FTC) Act (1975) |
|
Definition
| provides for minimum discolsure standards for written consumer product warranties; defines minimum consent standards for written warranties; allows the FTC to prescribe interpretive rules in policy statements regarding unfair or deceptive practices |
|
|
Term
| Consumer Goods Pricing Act (1975) |
|
Definition
| prohibits the use of price maintenance agreements among manufacturers and resellers in interstate commerce |
|
|
Term
| Trademark Counterfeiting Act (1980) |
|
Definition
| imposes civil and criminal penalties against those who deal in counterfeit consumer goods or any counterfeit goods that can threaten healthy or safety |
|
|
Term
| Trademark Law Revision Act (1988) |
|
Definition
| amends the Lanham Act to allow brands not yet introduced to be protected through registration with the Patent and Trademark Office |
|
|
Term
| Nutrition Labeling and Education Act (1990) |
|
Definition
| prohibits exaggerated health claims; requires all processed foods to contain labels with nutritional information |
|
|
Term
| Telephone Consumer Protection Act (1991) |
|
Definition
| establishes procedures to avoid unwanted telephone solicitations; prohibits marketers from using an automated telephones dialing system or an artificial or prerecorded voice to certain telephone lines |
|
|
Term
| Federal Trademark Dilution (1995) |
|
Definition
| grants trademark owners the right to protect trademarks and requires relinquishment of names that match or parallel existing trademarks |
|
|
Term
| Digital Millennium Copyright Act (1996) |
|
Definition
| refined copyright laws to protect digital versions of copyrighted materials, including music and movies |
|
|
Term
| Children's Online Privacy Protection Act (2000) |
|
Definition
| regulated the collection of personally identifiable information (name, address, e-mail address, hobbies, interests, or information collected through cookies) online from children under age 13 |
|
|
Term
| Do Not Call Implementation Act (2003) |
|
Definition
| directs the FCC and FTC to coordinate so their rules are consistent regarding telemarketing call practices including the Do Not Call Registry and other lists, as well as call abandonment; in 2008, the FTC amended its rules and panned prerecorded sales pitches for all but a few cases |
|
|
Term
|
Definition
| implemented strict rules on credit card companies regarding topics such as issuing credit to youth, terms disclosure, interests rates, and fees |
|
|
Term
| Federal Trade Commission (FTC) |
|
Definition
| an agency that regulates a variety of business practices and curbs false advertising, misleading pricing, and deceptive packaging and labeling |
|
|
Term
| Food and Drug Administration (FDA) |
|
Definition
| enforces laws and regulations to prevent distribution of adulterated or misbranded foods, drugs, medical devices, cosmetics, veterinary products, and potentially hazardous consumer products |
|
|
Term
| Consumer Product Safety Commission (CPSC) |
|
Definition
| ensures compliance with the Consumer Product Safety Act; protects the public from unreasonable risk of injury from any consumer product not covered by other regulatory agencies |
|
|
Term
| Federal Communications Commission (FCC) |
|
Definition
| regulates communication by wire, radio, and television in interstate and foreign commerce |
|
|
Term
| Environmental Protection Agency (EPA) |
|
Definition
| develops and enforces environmental protection standards and conducts research into the adverse effects of pollution |
|
|
Term
| Federal Power Commission (FPC) |
|
Definition
| regulates rates and sales of natural gas producers, thereby affecting the supply and price of gas available to consumers; also regulates wholesale rates for electricity and gas, pipeline construction, and US imports and exports of natural gas and electricity |
|
|
Term
| Better Business Bureau (BBB) |
|
Definition
| a system of nongovernmental, independent, local regulatory agencies supported by local businesses that helps settle problems between customers and specific business firms |
|
|
Term
| National Advertising Review Board (NARB) |
|
Definition
| a self-regulatory unit that considers challenges to issues raised by the National Advertising Division (an arm of the Council of Better Business Bureaus) about an advertisement |
|
|
Term
|
Definition
| the application of knowledge and tools to solve problems and perform tasks more efficiently |
|
|
Term
|
Definition
| the influences in a society and its culture(s) that change people's attitudes, beliefs, norms, customs, and lifestyles |
|
|
Term
|
Definition
| organized efforts by individuals, groups, and organizations to protect consumers' rights |
|
|
