ADMS 2200 Lecture Notes - Lecture 2: Iced Tea, Deflation, Business Cycle

• School: York University
• Department: Administrative Studies
• Course: ADMS 2200
• Professor: C.Hendriks

Document Summary

Indirectly competitive products - involves products than can be substituted for one another: mountain dew competes directly with other soft drinks as well as indirectly with substitutes like bottled or canned iced tea and bottled water. Types of competition: all consumer purchases: o(cid:272)(cid:272)urs i(cid:374) the se(cid:374)se that all fir(cid:373)s (cid:272)o(cid:373)pete for the (cid:271)uyers" purchases. Movies compete against many products, from dining out to buying a new pair of shoes. Component of the marketing environment consisting of laws and interpretations of laws that require firms to operate under competitive conditions and to protect consumer rights. Government regulation: some marketing practices covered by the competition act. Government regulation: prote(cid:272)ti(cid:374)g co(cid:374)su(cid:373)ers: the ca(cid:374)adia(cid:374) marketi(cid:374)g asso(cid:272)iatio(cid:374) pro(cid:448)ides a (cid:862)do not call(cid:863) service which its members honor. Factors that influence consumer buying power and marketing strategies, including stage of the business cycle, inflation, unemployment, resource availability and income.