Recent conflict with the marketers of ice beer focusing on alcohol content. Prosperity Recession Depression Recovery Marketers may need to adjust their marketing mix as the economy passes through different stages. Government uses fiscal and monetary policy to control the economy. Alan Greenspan increased interest rates to try to curb excessive growth that would lead to inflation, has now reduced the rates since the economy has not shown the signs of anticipated inflation. Credit, increases current buying power over future buying power.
All firms compete for consumers dollars.
Governed by Sherman Anti Trust Act. Looks at the commercial on-line service industry and the threat of Microsoft to the balance of the industry. Most common market structure. Need to establish a differential advantage, i.e., trade mark, brand name, some reason for consumers to purchase your product as opposed to your competition's product. Commodities, unregulated agriculture market.