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22 relations: Bankruptcy, Bidding, Brand, Commodity, Competition, Economies of scale, Market liquidity, Marketing, Merchant, Monopolistic competition, Monopoly, Oligopoly, Penetration pricing, Player (game), Predatory pricing, Pricing, Pro rata, Process optimization, Product differentiation, Smirnoff, Status quo, Vodka.
Bankruptcy
Bankruptcy is a legal status of a person or other entity that cannot repay debts to creditors.
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Bidding
Bidding is an offer (often competitive) to set a price by an individual or business for a product or service or a demand that something be done.
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Brand
A brand is a name, term, design, symbol, or other feature that distinguishes an organization or product from its rivals in the eyes of the customer.
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Commodity
In economics, a commodity is an economic good or service that has full or substantial fungibility: that is, the market treats instances of the good as equivalent or nearly so with no regard to who produced them.
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Competition
Competition is, in general, a contest or rivalry between two or more entities, organisms, animals, individuals, economic groups or social groups, etc., for territory, a niche, for scarce resources, goods, for mates, for prestige, recognition, for awards, for group or social status, or for leadership and profit.
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Economies of scale
In microeconomics, economies of scale are the cost advantages that enterprises obtain due to their scale of operation (typically measured by amount of output produced), with cost per unit of output decreasing with increasing scale.
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Market liquidity
In business, economics or investment, market liquidity is a market's feature whereby an individual or firm can quickly purchase or sell an asset without causing a drastic change in the asset's price.
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Marketing
Marketing is the study and management of exchange relationships.
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Merchant
A merchant is a person who trades in commodities produced by other people.
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Monopolistic competition
Monopolistic competition is a type of imperfect competition such that many producers sell products that are differentiated from one another (e.g. by branding or quality) and hence are not perfect substitutes.
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Monopoly
A monopoly (from Greek μόνος mónos and πωλεῖν pōleîn) exists when a specific person or enterprise is the only supplier of a particular commodity.
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Oligopoly
An oligopoly (from Ancient Greek ὀλίγος (olígos) "few" + πωλεῖν (polein) "to sell") is a market form wherein a market or industry is dominated by a small number of large sellers (oligopolists).
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Penetration pricing
Penetration pricing is a pricing strategy where the price of a product is initially set low to rapidly reach a wide fraction of the market and initiate word of mouth.
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Player (game)
A player of a game is a participant therein.
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Predatory pricing
Predatory pricing, also known as undercutting, is a pricing strategy in which a product or service is set at a very low price with the intention to drive competitors out of the market or to create barriers to entry for potential new competitors.
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Pricing
Pricing is the process whereby a business sets the price at which it will sell its products and services, and may be part of the business's marketing plan.
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Pro rata
Pro rata is an adverb or adjective, meaning in proportion.
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Process optimization
Process optimization is the discipline of adjusting a process so as to optimize some specified set of parameters without violating some constraint.
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Product differentiation
In economics and marketing, product differentiation (or simply differentiation) is the process of distinguishing a product or service from others, to make it more attractive to a particular target market.
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Smirnoff
Smirnoff is a brand of vodka owned and produced by the British company Diageo.
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Status quo
Status quo is a Latin phrase meaning the existing state of affairs, particularly with regard to social or political issues.
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Vodka
Vodka (wódka, водка) is a distilled beverage composed primarily of water and ethanol, but sometimes with traces of impurities and flavorings.
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References
[1] https://en.wikipedia.org/wiki/Price_war
