BUSI 2204 Lecture Notes - Product Differentiation, Air Miles, International Trade

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Political environment consists of laws government agencies and pressure groups that influence or limit various organizations and individuals in a given society. Legislation regulating business: increased legislation, changing government agency enforcement. Increased emphasis on ethics: socially responsible behaviour(are there enough women? ethnic workers?, cause-related marketing. The violence of crowds/lynch mob philosophy of crowds- someone says something untoward and a barrage ensues. Political environment:regulatory forces: protecting competition and consumers, the competition act, self-regulation, consumerism, changes in the rules relating to: Predatory pricing-cannot price in such a way that it causes the competition to go out of business. Cannot charge sh. 01 for bread when competition charges . 00. Resale price maintenance-manufacturers are not allowed to dictate the price that their products are sold at. International trade e. g: the growth of chinese and indian manufacturing. New competitors locally, e. g: wind as new mobile competitor.

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