MKT 2210 Lecture Notes - Lecture 13: Brand Loyalty, Oligopoly, Consumer Behaviour
1 Aug 2018
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Document Summary
Technological forces: invenions from science or engineering research. Compeiive forces: alternaive products that can saisfy a speciic market"s needs. Direct compeitors: head-to-head compeitors similar products sold in the same category. Indirect compeitors: products compeing for the same buying dollar in a slightly diferent, but related category. Monopoly: when only one company sells in a paricular market: ex: one irm local cable service providers. Oligopoly: type of compeiion that occurs when a few companies control a market: ex: few irms - airlines. Monopolisic compeiion: type of compeiion where a large number of sellers compete with each other, ofering customers similar or subsitute products: ex: many irms, similar products blue jean manufactures. Perfect compeiion: type of compeiion where there are many sellers with nearly idenical products and litle difereniaion: ex: many irms, idenical products apple farmers. Regulaions: restricions placed on markeing pracices by government and industry associaions. Consumer behaviour: acions a person takes when purchasing and using products and services.
