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19 Cards in this Set

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Brand Competitors

Firms that market products with similar features and benefits to the same customers at similar prices.

Do something you do but with slight variation

Product competitors

Firms that compete on the same product class but market products with different features, benefits, and prices.

Hulu and Netflix


A competitive structure in which an organization offers a product that has no close substitutes, making that organization the sole source of supply.


A competitive structure in which a few sellers control the he supply of a large proportion of a product.

Monopolistic competition

A competitive structure in which a firm has many potential competitors and tries to develop a marketing strategy to differentiate it's product.

Pure competition

A market structure characterized by an extremely large number of sellers, none strong enough to significantly influence the price or supply.

Buying power

Resources — such as money, goods, and services—that can be traded in exchange.

Disposable income

After-tax income

Discretionary income

Disposable income available for spending and saving after an individual has purchased the basic necessities of food, clothing, and shelter.

Willingness to spend

An inclination to buy because of expected satisfaction from a product, influenced by the ability to buy and numerous psychological and social resources.

Federal trade commission FTC

An agency that regulates a variety of business practices and curbs false advertising, misleading pricing, and deceptive packaging and labeling.

Better Business Bureau

A local, nongovernmental regulatory agency, supported by local businesses, that helps settle problems between customers and specific business firms.

National Advertising Review Board (NARB)

A self-regulatory unit that considers challenges to issues raised by the National Advertising Division (an arm of the Council of Better Business Bureaus) about an advertisement

Sociocultural forces

The influences in a society and it's culture(s) that change people's attitudes, norms, customs, and lifestyles

Marketing citizenship

The adoption of a strategic focus for fulfilling the economic, legal, ethical, and philanthropic social responsibilities expected by stakeholders

Ethical issue

An identifiable problem, situation, or opportunity requiring a choice among several actions that must be evaluated as right or wrong, ethical or unethical

Strategic philanthropy approach

The synergistic use of organizational core competencies and resources to address key stakeholders' interest and achieve both organizational and social benefits


Organized efforts by individuals, groups and organizations to protect consumers' rights

Codes of conduct

Formalized rules and standards that describe what a company expects of its employees