One seller who dominates many buyers.

Use of false or misleading statements to persuade people to buy things that they might otherwise avoid.

The practice of selling a product or service at a very low price, intending to drive competitors out of the market.

An agreement among competitors to raise, fix or otherwise maintain the price at which their goods or services are sold, price fixing is illegal.

Underground and illegal market.

Where relatively few competitive companies dominate the market.

Bait and switch advertizing

Customers are baited to come in and get a product but the product doesn’t actually exist so the retailer the switches it to another product.

Unofficial but not an illegal market.

Manufacturers export a product to another country at a price either below the price charged in its home market, or in quantities that cannot be explained through normal market competition.

Any form of communication a business or organization uses to inform, persuade, or remind.

Any paid form of non personal presentation and promotion by an identified sponsor.

Placing newsworthy information about a company, product, or person in the media to build an image.

All marketing activities, other than personal selling, advertising, and publicity, that are used to stimulate consumer purchasing and sales effectiveness.

Making an oral sales presentation to one or more potential buyers. The most expensive form of promotion.

Used to convince potential customers to buy products from them instead of from a competitor.

Institutional Promotion

Used to create a favorable image for itself. Does not directly sell a certain product.

A folder containing articles, news releases, feature stories, and photographs about a company, product, or person.

A meeting in which media members are invited to hear an announcement about a newsworthy event.

A pre-written story about a company that would be given to a newspaper?

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Game #2 3.0 and 4.0

Term	Definition
Monopoly	One seller who dominates many buyers.
Deceptive price	Use of false or misleading statements to persuade people to buy things that they might otherwise avoid.
Predatory pricing	The practice of selling a product or service at a very low price, intending to drive competitors out of the market.
Price fixing	An agreement among competitors to raise, fix or otherwise maintain the price at which their goods or services are sold, price fixing is illegal.
Black Market	Underground and illegal market.
Oligopoly	Where relatively few competitive companies dominate the market.
Loss-leader pricing	A product sold at a low price.
Bait and switch advertizing	Customers are baited to come in and get a product but the product doesn’t actually exist so the retailer the switches it to another product.
Gray market	Unofficial but not an illegal market.
Dumping	Manufacturers export a product to another country at a price either below the price charged in its home market, or in quantities that cannot be explained through normal market competition.
Promotion	Any form of communication a business or organization uses to inform, persuade, or remind.
Advertising	Any paid form of non personal presentation and promotion by an identified sponsor.
Publicity	Placing newsworthy information about a company, product, or person in the media to build an image.
Sales Promotion	All marketing activities, other than personal selling, advertising, and publicity, that are used to stimulate consumer purchasing and sales effectiveness.
Personal Selling	Making an oral sales presentation to one or more potential buyers. The most expensive form of promotion.
Product promotion	Used to convince potential customers to buy products from them instead of from a competitor.
Institutional Promotion	Used to create a favorable image for itself. Does not directly sell a certain product.
Press kit	A folder containing articles, news releases, feature stories, and photographs about a company, product, or person.
Press conference	A meeting in which media members are invited to hear an announcement about a newsworthy event.
News release	A pre-written story about a company that would be given to a newspaper?

Created by: carterdanku

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