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Home→The Westburn Dictionary of Marketing→C→cartel

cartel

Definition:
An agreement between a group of companies in an industry for the purpose of regulating prices, output etc., with the aim of minimizing COMPETITION. A cartel is a formal system of collaboration with rules set down in a legally enforceable document. Cartels are not legal in the UK because they are held to restrict trade and create MONOPOLY conditions.

Cross-References:
[competition] [monopoly]

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© Westburn Publishers Ltd 2002, The Westburn Dictionary of Marketing edited by Michael J Baker, ISBN 978-0-946433-01-8. www.themarketingdictionary.com. Entry: [Margaret D. Potts and Michael J. Baker], [1998].