COMMERCE 2MA3 Chapter Notes - Chapter 3: Market Structure, Green Marketing, Consumerism
11 Mar 2014
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Document Summary
Environment management: attainment of organizational objectives by predicting and influencing the competive, 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, common in international marketing. Interactive process that occurs in the marketplace among marketers of directly competitive products, marketers of products that can be substituted for one another, and marketers competing for the consumer"s purchasing power. Monopoly: market structure in which a single seller dominates trade in a good or service for which buyers can find no close substitutes. Oligopoly: market structure in which relatively few sellers compete and where high start-up costs form barriers to keep out new competitors. Types of competition: marketers face three types of competition, the most direct form occurs among markers of similar products, a second type of competition is indirect and involves products that are easily substituted.
