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Predatory Pricing
Predatory pricing is a pricing strategy, using the method of undercutting on a larger scale, where a dominant firm in an industry will deliberately reduce the prices of a product or service to loss-making levels in the short-term. The aim is that existing or potential competitors within the industry will be forced to leave the market, as they are unable to effectively compete with the dominant firm without making a loss. Once competition has been eliminated, the dominant firm now having a majority share of the market can raise its prices to monopoly levels in the long-term to recoup its losses. The difference between predatory pricing and competitive pricing is during the recouping phase of lost profits by the dominant firm charging higher prices. With there being less firms in the market causing consumers to have fewer choices between products or services, these higher prices result in consumer harm. Predatory pricing usually causes consumer harm and is considered anti-co ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Pricing Strategies
A business can use a variety of pricing strategies when selling a product or service. To determine the most effective pricing strategy for a company, senior executives need to first identify the company's pricing position, pricing segment, pricing capability and their competitive pricing reaction strategy. Pricing strategies and tactics vary from company to company, and also differ across countries, cultures, industries and over time, with the maturing of industries and markets and changes in wider economic conditions. Pricing strategies determine the price companies set for their products. The price can be set to maximize profitability for each unit sold or from the market overall. It can also be used to defend an existing market from new entrants, to increase market share within a market or to enter a new market. Pricing strategies can bring both competitive advantages and disadvantages to its firm and often dictate the success or failure of a business; thus, it is crucial to c ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Market Share
Market share is the percentage of the total revenue or sales in a market that a company's business makes up. For example, if there are 50,000 units sold per year in a given industry, a company whose sales were 5,000 of those units would have a 10percent share in that market. "Marketers need to be able to translate and incorporate sales targets into market share because this will demonstrate whether forecasts are to be attained by growing with the market or by capturing share from competitors. The latter will almost always be more difficult to achieve. Market share is closely monitored for signs of change in the competitive landscape, and it frequently drives strategic or tactical action."Farris, Paul W.; Neil T. Bendle; Phillip E. Pfeifer; David J. Reibstein (2010). ''Marketing Metrics: The Definitive Guide to Measuring Marketing Performance.'' Upper Saddle River, New Jersey: Pearson Education, Inc. . The Marketing Accountability Standards Board (MASB) endorses the definitions, ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Empirical Method
Empirical research is research using empirical evidence. It is also a way of gaining knowledge by means of direct and indirect observation or experience. Empiricism values some research more than other kinds. Empirical evidence (the record of one's direct observations or experiences) can be analyzed quantitative research, quantitatively or qualitative research, qualitatively. Quantifying the evidence or making sense of it in qualitative form, a researcher can answer empirical questions, which should be clearly defined and answerable with the evidence collected (usually called data). Research design varies by field and by the question being investigated. Many researchers combine qualitative and quantitative forms of analysis to better answer questions that cannot be studied in laboratory settings, particularly in the social sciences and in education. In some fields, quantitative research may begin with a research question (e.g., "Does listening to vocal music during the learning of ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Forbes
''Forbes'' () is an American business magazine owned by Integrated Whale Media Investments and the Forbes family. Published eight times a year, it features articles on finance, industry, investing, and marketing topics. ''Forbes'' also reports on related subjects such as technology, communications, science, politics, and law. It is based in Jersey City, New Jersey. Competitors in the national business magazine category include ''Fortune'' and '' Bloomberg Businessweek''. ''Forbes'' has an international edition in Asia as well as editions produced under license in 27 countries and regions worldwide. The magazine is well known for its lists and rankings, including of the richest Americans (the Forbes 400), of the America's Wealthiest Celebrities, of the world's top companies (the Forbes Global 2000), Forbes list of the World's Most Powerful People, and The World's Billionaires. The motto of ''Forbes'' magazine is "Change the World". Its chair and editor-in-chief is S ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Thomas Sowell
Thomas Sowell (; born June 30, 1930) is an American author, economist, political commentator and academic who is a senior fellow at the Hoover Institution. With widely published commentary and books—and as a guest on TV and radio—he became a well-known voice in the American conservative movement and is considered one of the most influential black conservatives. He was a recipient of the National Humanities Medal from President George W. Bush in 2002. Sowell was born in segregated Gastonia, North Carolina, to a poor family, and grew up in Harlem, New York City. Due to poverty and difficulties at home, he dropped out of Stuyvesant High School and worked various odd jobs, eventually serving in the United States Marine Corps during the Korean War. Afterward he took night classes at Howard University and then attended Harvard University, where he graduated ''magna cum laude'' in 1958. He earned a master's degree in economics from Columbia University the next year and ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Federal Trade Commission
The Federal Trade Commission (FTC) is an independent agency of the United States government whose principal mission is the enforcement of civil (non-criminal) antitrust law and the promotion of consumer protection. The FTC shares jurisdiction over federal civil antitrust enforcement with the Department of Justice Antitrust Division. The agency is headquartered in the Federal Trade Commission Building in Washington, DC. The FTC was established in 1914 with the passage of the Federal Trade Commission Act, signed in response to the 19th-century monopolistic trust crisis. Since its inception, the FTC has enforced the provisions of the Clayton Act, a key antitrust statute, as well as the provisions of the FTC Act, et seq. Over time, the FTC has been delegated with the enforcement of additional business regulation statutes and has promulgated a number of regulations (codified in Title 16 of the Code of Federal Regulations). The broad statutory authority granted to the FTC prov ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Antitrust
Competition law is the field of law that promotes or seeks to maintain market competition by regulating anti-competitive conduct by companies. Competition law is implemented through public and private enforcement. It is also known as antitrust law (or just antitrust), anti-monopoly law, and trade practices law. The history of competition law reaches back to the Roman Empire. The business practices of market traders, guilds and governments have always been subject to scrutiny, and sometimes severe sanctions. Since the 20th century, competition law has become global. The two largest and most influential systems of competition regulation are United States antitrust law and European Union competition law. National and regional competition authorities across the world have formed international support and enforcement networks. Modern competition law has historically evolved on a national level to promote and maintain fair competition in markets principally within the territorial ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Karnovs Lovsamling
''Karnovs Lovsamling'' (''Karnov's Law Collection'', often referred to as ''Karnov'') is a compilation that contains all significant laws of Denmark. The laws are commented on with interpretations, rulings, administrative decisions and references to literature. In addition, the compilation is updated following legislative changes, so the work the current laws with changes in a single version. History ''Karnovs Lovsamling'' was first produced in 1924,Michael Bogdan, ''Swedish Law in the New Millennium'' (2000), p. 51. under the title ''Hvermands Lovbog'' (''Everybody's Laws''), by district court prosecutor Magnus Karnov (1882-1962), from Sønderborg. It contained the most common Danish laws, and the motive for the release was the Southern Jutland reunion with Denmark. While the country had been under German rule, German law had been applied, but after the reunification, Danish law was introduced gradually. The lack of a comprehensive law such as the German ''Bürgerliches Gesetzbu ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Federal Ministry For Economic Affairs And Energy
The Federal Ministry for Economic Affairs and Climate Action (german: Bundesministerium für Wirtschaft und Klimaschutz, ), abbreviated BMWK (was BMWi), is a cabinet-level ministry of the Federal Republic of Germany. It was previously known as the "Ministry of Economy". It was recreated in 2005 as "Ministry of Economics and Technology" after it had previously been merged with other ministries to form the Federal Ministry for Economics and Labour between 2002 and 2005. The ministry is advised by the Council of Advisors on Digital Economy. History The historical predecessor of the current Federal Ministry for Economic Affairs and Climate Action was the ''Reichswirtschaftsamt'' (Reich Economic Office), founded in 1917. In 1919, this became the ''Reichswirtschaftsministerium'' (Reich Ministry of Economy), which existed until 1945. In postwar occupied Germany, its functions were exercised by the Administrative Office of Economy (german: Verwaltungsamt für Wirtschaft) between 19 ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
German Language
German ( ) is a West Germanic language mainly spoken in Central Europe. It is the most widely spoken and official or co-official language in Germany, Austria, Switzerland, Liechtenstein, and the Italian province of South Tyrol. It is also a co-official language of Luxembourg and Belgium, as well as a national language in Namibia. Outside Germany, it is also spoken by German communities in France (Bas-Rhin), Czech Republic (North Bohemia), Poland (Upper Silesia), Slovakia (Bratislava Region), and Hungary (Sopron). German is most similar to other languages within the West Germanic language branch, including Afrikaans, Dutch, English, the Frisian languages, Low German, Luxembourgish, Scots, and Yiddish. It also contains close similarities in vocabulary to some languages in the North Germanic group, such as Danish, Norwegian, and Swedish. German is the second most widely spoken Germanic language after English, which is also a West Germanic language. German is one of the ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Federal Cartel Office
The Federal Cartel Office (, ; BKartA) is Germany's national competition regulatory agency. First established in 1958, BKartA comes under the authority of the Federal Ministry for Economic Affairs and Climate Action. The agency is headquartered in Bonn, the former capital of West Germany West Germany is the colloquial term used to indicate the Federal Republic of Germany (FRG; german: Bundesrepublik Deutschland , BRD) between its formation on 23 May 1949 and the German reunification through the accession of East Germany on 3 .... Since 2009, Andreas Mundt has served as the president of BKartA. References External links * * {{Authority control Consumer organisations in Germany German federal agencies Competition regulators Federal authorities in Bonn Regulation in Germany ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Competition Act 1998
The Competition Act 1998 is the current major source of competition law in the United Kingdom, along with the Enterprise Act 2002. The act provides an updated framework for identifying and dealing with restrictive business practices and abuse of a dominant market position. One of the main purposes of this act was to harmonise the UK with EU competition policy, with Chapter I and II of the act mirroring the content of Articles 81 and 82 of the Treaty of Amsterdam (formally Articles 85 and 86 of the Treaty of Rome).Note: Arts 81 & 81 have since been renumbered as Arts 101 & 102 Chapter I Prohibitions Deals with restrictive practices engaged by companies operating within the UK that distort, restrict or prevent competition. These are primarily in the form of horizontal agreements (agreements to collude between firms on the same level of the supply chain such as retailers or wholesalers). These agreements could be to limit output, collusively share information, fix prices, ten ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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