ADMS 2200 Lecture Notes - Lecture 3: Resale Price Maintenance, Exclusive Dealing, Environmental Resource Management

• School: York University
• Department: Administrative Studies
• Course: ADMS 2200
• Professor: Richard Patterson

Document Summary

Environmental scanning: the process of collecting information about the external marketing environment to identify and interpret potential trends. Environmental management: attainment of organization objectives by predicting and influencing the competitive, political-legal, economic, technological and social-cultural environments. Strategic alliance: partnership in which two or more companies combine resources and capital to create competitive advantages in a new market. Competitive environment: interactive process that occurs in the marketplace among marketers of directly competitive products that can be substituted for one another and markets competing for the consumer"s purchasing power. Direct: occurs among marketers of similar products such as gas stations. Indirect: products that are easily substituted such as food where pizza can be substituted for a burger. Consumer purchasing competition: all organizations compete for a limited number of dollars that a consumer can or may spend. Competitive strategy: methods through which a firm deals with its competitive environment.