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Lecture 3

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


Department
Administrative Studies
Course Code
ADMS 2200
Professor
Richard Patterson
Lecture
3

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Chapter 3
Environmental scanning: the process of collecng informaon about the external markeng
environment to idenfy and interpret potenal trends
Environmental management: aainment of organizaon objecves by predicng and inuencing the
compeve, polical-legal, economic, technological and social-cultural environments
Strategic Alliance: partnership in which two or more companies combine resources and capital to create
compeve advantages in a new market
Compeve Environment: interacve process that occurs in the marketplace among marketers of
directly compeve products that can be substuted for one another and markets compeng for the
consumers purchasing power
Three types of compeon:
Direct: occurs among marketers of similar products such as gas staons
Indirect: products that are easily substuted such as food where pizza can be substuted for a burger
Consumer Purchasing Compeon: all organizaons compete for a limited number of dollars that a
consumer can or may spend
Compeve Strategy: methods through which a (rm deals with its compeve environment
Three quesons to determine compeve strategy:
1. Should we compete?
2. If so, in what market?
3. How should we compete?
Time-based compeon: the strategy of developing and distribung goods and services more quickly
than competors
Polical-legal environment: component of the markeng environment consisng of laws and
interpretaons of laws that require (rms to operate under compeve condions and to protect
consumer rights
Compeon Act: the most comprehensive legislaon in Canada, designed to help both consumers and
businesses by promong a healthy compeve environment
Some Markeng pracces covered by the compeon act:
Price (xing, price rigging, price discriminaon, double ckeng, resale price maintenance
Misleading adversing, referral selling, bait-and-switch selling, ed selling
Refusal to deal, exclusive dealing, pyramid selling
Economic Environment: factors that inuence consumer buying power and markeng strategies,
including stage of the business cycle, inaon, unemployment, income and resource availability
Business Cycle: paern of stages in the level of economic acvity, prosperity, recession, depression and
recovery
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