Module 3 - Market Integration

Conglomeration

A combination of agencies or activities not directly related to each other may, when it operates under a unified management.

Vertical Integration

A strategy that many companies use to gain control over their industry's value chain.

Contract Integration

Involves an agreement between two firms on certain decisions, while each firm retains its separate identity.

Market Integration

It is the process which refers to the expansion of firms by consolidating additional marketing functions and activities under a single management.

Homo Faber

Means "Man the Maker" in Latin.

Horizontal Integration

Occurs when a firm or agency gains control of other firms or agencies performing similar marketing functions at the same level in the marketing sequence.

Ownership Integration

Occurs when all the decisions and assets of a firm are completely assumed by another firm.