MGMT 105 Lecture Notes - Lecture 5: Psychographic, Federal Trade Commission Act Of 1914, Consumer Product Safety Act
Document Summary
Intro to marketing (mgmt 105) lecture notes 5 and 6. Robinson-patman act: against price discrimination: companies cannot charge different prices to different retailers. Anti-merger act: against mergers that create a monopolist. Food and drug act and consumer product safety act: sets safety standards. Federal trade commission act: monitors unfair practices, including deceptive advertising. Principles and standards that define acceptable conduct in the marketplace. Steps: recognize stakeholder interests and concerns, creating ethical guidelines. Reputation can be tarnished by a sole unethical practice! Usage rate (heavy users = more loyal customers) Purchase occasio(cid:374) (cid:894)e(cid:454)a(cid:373)ple: flowers, jewelr(cid:455) for vale(cid:374)ti(cid:374)e"s da(cid:455)(cid:895) Buying stage (you go through stages before buying a product) Some consumers may share a cultural orientation. Different laws and regulations in different geographic regions. Fi(cid:374)er seg(cid:373)e(cid:374)ts = ca(cid:374) charge higher price, satisf(cid:455) custo(cid:373)ers" specific (cid:374)eeds. Segments should be large enough and accessible to be profitable. Risk: not diversified (all eggs in one basket)
