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10 Cards in this Set
- Front
- Back
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Return on Investment (ROI)
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calculation used to determine the relative profitability of a product
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Place utility
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having a product where costumers can buy it
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minimum price laws
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prevents large companies with market power from selling products at very low prices to drive out their competition
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e-tailing (online retailing)
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retailers selling products over the internet to the consumer
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price wars
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the sale price of a product; they think that consumers will buy the product with the lowest price.
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law of diminishing utility
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economic law stating that consumers will buy only so much of a given product, even though the price is low.
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Sherman anti trust act
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outlawed all contracts and and agreements that would limit trade or competition in interstate commerce
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robinson-patman act
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prohibits price discrimination
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market share
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companies percentage of total sales volume generated by all competition in a given market
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competition analysis
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analysis on strengths and weaknesses when compared to it competitors
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