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10 Cards in this Set

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