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Chapter 19 Marketing Dynamics

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Competition Grid
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Chart used for recording information about competitors
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Competitive Edge
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The special feature or aspect of a product that makes it different from and better that the others
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Competitor
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One of the businesses that competes for customers
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direct competitors
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Businesses that sell similar products
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market share
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One competitor’s percentage of the total sales in a specific market
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market share leaders
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Companies with the largest market share
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Market size
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Total sales per year for a specific product
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monopoly
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Exclusive control of a product by one company
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nonprice competition
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Competition that is based on product quality, customer service, location, ect.
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price competition
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Competing on the basis of price