Term
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Definition
| Sets the organization's basic purpose for being. |
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Term
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Definition
| The number and types of competitors the marketing manager must face, and how they may behave. |
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Term
| Economic and Technological Environment |
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Definition
| Affects the way firms, and the whole economy, use resources. |
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Term
| Cultural and Social Environment |
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Definition
| Affects how and why people live and behave as they do. |
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Term
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Definition
*Look at table on top of page 75*
Created to encourage competition. Need to know how the laws effects the Four P's:
Product - Monopoly or conspiracy to control a product
Place - Monopoly or conspiracy to control distribution channels
Promotion - N/A
Price - Monopoly or Conspiracy to fix or control prices |
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Term
| Robinson-Patman Act (1936) |
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Definition
*Look at table on top of page 75*
Also created to encourage competition. Need to understand how it affects the Four P's:
Product - N/A
Place - N/A
Promotion - Prohibits "fake" advertising allowances or discriminations in help offering
Price - Prohibits price discrimination on goods of "like grade and quality" without cost justification, and limits quantity discounts |
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