MARKETNG 300 Study Guide - Final Guide: Exchange Rate, Consumer Product Safety Act, Sherman Antitrust Act
Document Summary
Basics guidelines for setting a firm"s objectives: engage in specific activities that will perform a socially and economically useful function, develop an organization to carry on the business and implement strategies, earn enough profit to survive. Basic kinds of markets: pure competition competitors offer very similar product, oligopoly , monopolistic competition number of different firms offer marketing mixes that at least some customer sees as different, monopoly one firm completely controls a broad product market. Technological environment: technology the application of science to convert an economy"s resources to output, technology affects opportunities, technology transfer is rapid, internet technologies are reshaping market, technology and ethical issues. Political environment: nationalism an emphasize on a country"s interests before everything else, nationalism can be limiting in international markets, regional groupings are becoming more important, the unification of european market, consumer protection laws are not new.
