Jan 29th 2008 - Principles of Marketing January 29,2008...

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Principles of Marketing January 29,2008 Engel’s Law-  as family income rises the %spent on food declines. The %s spent on  housing stays the same. The % saving rises. Economic Forces, continued Regulation - Rule designed to control the conduct of business. 1) Established to protect companies from each other. 2) Protect consumers from unfair business practices. 3) Protecting the interests of society. 1. Self regulation- industry alternative to government control whereby  industry attempts to police itself. Financial Intermediaries - They are your businesses such as banks, credit companies,  insurance providers or other businesses that enable financial transactions or insure  against risk.  5 types of markets a firm must understand 1) Consumer market- consists of individual and household consumers that buy  goods and services for personal consummation. 2) Business market- firms that buy goods and services for further processing or for 
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This note was uploaded on 09/04/2008 for the course MKTG 301 taught by Professor Leahy during the Spring '08 term at American Dubai.

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Jan 29th 2008 - Principles of Marketing January 29,2008...

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