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Flashcards in marketing ch.3 Deck (34):
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5 sources of environmental force

Social
Economic
Technological
Competitive
Regulatory

1

Baby boomers

Wealthiest generation
50% of consumption

2

Generation x

Cautious lifestyles
Business travelers

3

Generation Y

Baby boomers kids
Work life balance
Sports/computers/videogames

4

Generational marketing programs

Based on generational traits

5

Multi cultural marketing

Uses marketing mix to refelct unique culture of a racial group

6

Value consciousness

Careful about getting best quality per dollar.

++ in a recession

7

3 parts if consumer income

Gross
Disposable
Discretionary

8

Gross income

Total per year

9

Disposable income

Gross-taxes- necessities

10

Discretionary

The money left over for luxury

11

Market space

Electronic exchange environent

12

Electronic commerce

Activities that use electronic communication for commerce

13

Four forms of competition

Pure
Monopolistic
Oligopoly
Pure monopoly

14

Pure competition

Many sellers selling similar product

15

Monopolistic competition

Many sellers selling substitutable products in same price rang

Coupons very common

Ie tea v coffee

16

Oligopoly

Few orgs run entire industry

17

Pure monopoly

One firm sells the product

18

Slow growth means what for competition

More heated

19

Sherman antitrust act

Forbids combos in restraint of trade

20

Robinson patman act

Unlawful to discriminate prices

21

Patent law

Inventors have right to exclude others from using/selling idea

22

Digital millenium copyright act

Protects digital products

23

Consumerism

Increased consumer power when dealin with sellers/institutions

24

Trademarks

Protects consumers and sellers. Consumers know the brand they trust. Sellers investments protected

25

Lanhan act

Provides for registration of tms

26

Price fixing

Illegal

27

Price discounting

Legal for matching prices in good faith or charging less for larger quantities

28

Exclusive dealing

Reseller sell only your product, not competitors.

Illegal under clayton act if it substantially decreases competition

29

Requirement contracts

Requires a certain amount to be purchased for a time period.
Sometime legal

30

Territorial distributorship

Gives distributor sole tight to sell in area.

Usually legal

31

Tying arrangment

To buy one product you must also buy the other

Illegal if seller can restrain trade of tied product

32

Federal trade commission

Orders cease and desists
Orders corrective advertising

33

Self regulation

Industry sets own policies

Ex. Tv or better businesses bureau