Chapters 5-9 | CTE 3808 - CONS IN COM MKTPLC, Quizzes of Production and Operations Management

Download Chapters 5-9 | CTE 3808 - CONS IN COM MKTPLC and more Quizzes Production and Operations Management in PDF only on Docsity! TERM 1 Information economy DEFINITION 1 An economy where those whoproduce, have access to, and influence the spread of information have power in the global economy. TERM 2 Corrective advertising DEFINITION 2 This type of advertising disclaims previous false advertising claims and is run by a firm to cause consumers to "unlearn" inaacurate information from prior advertising. TERM 3 Claim rates DEFINITION 3 Percentage of consumers who mail in rebate coupons. TERM 4 Merger DEFINITION 4 A combing of to or more companies into a single unit and can be classified by its economic funition: hrizontal, vertical, market, product, or conglomerate. TERM 5 Horizontal merger DEFINITION 5 Combine direct companies in the same product lines and markets. TERM 6 Vertical merger DEFINITION 6 Combines supplier and company or customer and company. TERM 7 Market extension merger DEFINITION 7 Combines firms selling the same products in different markets. For example, one grocery store buys another, increasing the area to which it distributes. TERM 8 Product extension merger DEFINITION 8 Combine firms selling different but related products in the same market. TERM 9 Conglomerate merger DEFINITION 9 Combining different companies in widely divergent fields into a single entity. TERM 10 Sherman Anti-trust Act DEFINITION 10 Established in 1890, this act deals i restraint of trade and monopolies. The main purpose of this act is to maintain a competitive economy.