BIOC 3560 Lecture Notes - Lecture 1: Consumerism, Blog, Monopolistic Competition

• School: University of Guelph
• Department: Biochemistry
• Course: BIOC 3560
• Professor: Dawson S Graether

Document Summary

Extranet: an internet-based technology that permits communication between a company and its suppliers, distributors, and other partners. Marketspace: an information and communication-based electronic exchange environment. E-business: all electronic-based company activities, both within and outside the company. E-commerce: specific buying and selling processes on the internet. E-marketing: also, called online marketing, the marketing component of e-commerce. Blog: a personal web log or web page that contains the online personal journal of an individual. Competition: alternative firms that could provide a product to satisfy a specific market"s needs. Pure competition: every company has a similar product. Monopolistic competition: sellers compete with their products on a substitutable basis. Oligopoly: few companies control the majority of the market. Monopoly: only one firm sells the product or service. Entry: a firm must asses the possibility of new entrants. Barriers to entry: business practises or conditions that make it difficult for new firms to enter a market.