COMMERCE 2MA3 Lecture Notes - Lecture 3: Mothers Against Drunk Driving, National Energy Board, Market Environment
13 May 2016
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Document Summary
Collecting external marketing environment information to identify and interpret potential trends. Trends may represent significant opportunities or threats to the company. Attainment of organizational objectives by predicting and influencing the competitive, political-legal, economic, technological, and social- cultural environments. Partnership in which 2+ companies combine resources and capital to create competitive advantages in a new market. Interactive process that occurs in the marketplace among. Monopoly is a market structure in which a single seller dominates trade in a good or service for which buyers can find no close substitutes. Some pharma firms have temporary monopolies provided by patents on drugs. Oligopoly is a structure where a few number of sellers in an industry with high start-up costs results in keeping out new competitors. Competition among all firms that compete for consumers" purchases. All firms compete for a limited number of dollars that consumers can or will spend. Methods through which a firm deals with its competitive environment.
