Kalan Lecture 5 - L ambert Tamin 2/7/2011 Kalan Lecture 5...

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2/7/2011 Kalan Lecture 5 Talking about project A. Micro and Macro environments: a. Anytime we are involved in a consumer group there is a contest for limited consumer resources. i. We are in a contest for discretionary income-what’s left after you paid for necessities. ii. Product competition=competition in ways to satisfy and identify need. 1. Eg. If the need is hunger, you go to supermarket, buy and eat the food. iii. Brand Competition: Competition for similar goods. B. Macro-environment: There are a varitety of competitive environments within this a. Monopoly scenario: One organization is able to fully control price, quality, and supply. i. John D Rockefeller, electricity, cable TV, US postal service b. Oligopoly scenario: When a few (2 or 3) organizations dominate the market. c. Monopolistic Competition: Occurs when there are many firms with slightly different products competing. They are not exactly the same, but they are competing. d. Perfect Competition: In theory you have many small sellers and lots of alternatives for consumers. Nobody can dominate the market place. i.
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This note was uploaded on 09/16/2011 for the course MARKETING 301 taught by Professor Yeniyurt during the Spring '08 term at Rutgers.

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Kalan Lecture 5 - L ambert Tamin 2/7/2011 Kalan Lecture 5...

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