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  • Unit 3: Industry and Environmental Analysis: Michelin G. Danan

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    Michelin Danan
    98 vizualizări22 pagini
    The document discusses different types of market structures: - Pure competition has many small sellers and buyers of homogeneous products with no barriers to entry. - Pure monopoly has a single seller of a unique product without close substitutes and significant barriers to entry. - Oligopoly has a market dominated by a small number of large sellers of differentiated products with barriers to entry that can engage in price wars or collusion. - Monopolistic competition has many sellers of differentiated products that compete through advertising and non-price factors.

    Descriere originală:

    SHS ABM Applied Economics Lesson 7 Types of Competition

    Titlu original

    Types of Competition

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    The document discusses different types of market structures: - Pure competition has many small sellers and buyers of homogeneous products with no barriers to entry. - Pure monopoly has a single seller of a unique product without close substitutes and significant barriers to entry. - Oligopoly has a market dominated by a small number of large sellers of differentiated products with barriers to entry that can engage in price wars or collusion. - Monopolistic competition has many sellers of differentiated products that compete through advertising and non-price factors.

    Drepturi de autor:

    © All Rights Reserved
    Descărcați ca PPTX, PDF, TXT sau citiți online pe Scribd
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    98 vizualizări22 pagini

    Unit 3: Industry and Environmental Analysis: Michelin G. Danan

    Încărcat de

    Michelin Danan
    The document discusses different types of market structures: - Pure competition has many small sellers and buyers of homogeneous products with no barriers to entry. - Pure monopoly has a single seller of a unique product without close substitutes and significant barriers to entry. - Oligopoly has a market dominated by a small number of large sellers of differentiated products with barriers to entry that can engage in price wars or collusion. - Monopolistic competition has many sellers of differentiated products that compete through advertising and non-price factors.

    Drepturi de autor:

    © All Rights Reserved
    Descărcați ca PPTX, PDF, TXT sau citiți online pe Scribd
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    din 22

    UNIT 3: INDUSTRY AND

    ENVIRONMENTAL
    ANALYSIS
    MICHELIN G. DANAN
    LESSON 7
    TYPES OF COMPETITION
    MARKET STRUCTURES
    PURE COMPETITION
    • Many sellers
    • None of which controls the price
    • Homogenous products and services
    • No barriers to entry
    1. Pure Competition
    • Large number of buyers and sellers
    • Identical product
    • Well informed buyers and sellers

    More Competition Less Competition
    PURE MONOPOLY
    • One seller
    • One product or service with no substitutes
    • Severe barriers to entry
    Monopoly

    • One seller dominates the market with no close substitutes

    More Competition Less Competition
    OLIGOPOLY
    • Few sellers of differentiated products with strict barriers to entry
    Oligopoly
    • A few very large sellers dominate the industry
    • Oligopolists act independently by lowering prices soon after the first
    seller announces the cut
    • Collusion: formally agree to set prices
    • Engage in price wars

    More Competition Less Competition
    Oligopoly

    Few producers control supply and price
    Coca-Cola Classic
    • Fanta
    Coca-Cola classic
    • Fresca
    Sprite
    • Minute
    Dasani Maid
    • Mr.
    Barq's
    Pibb
    • Powerade
    Dannon
    • Seagrams
    Nestea Ginger Ale & Mixers
    • TAB
    Rockstar
    • Evian
    Pepsi-co
    • MUG
    Aquafina
    Root Beer
    • Slice
    Pepsi
    • Gatorade
    Mountain Dew
    • Dole
    SierraJuice
    Mist
    • Tropicana
    Sobe
    • Lipton Brisk Tea
    MONOPOLISTIC COMPETITION
    • Many sellers
    • Unique products
    Monopolistic Competition
    • Meets all condition of perfect competition except for identical products.
    • Product differentiation
    • Monopolistic competitors use nonprice competition
    • Advertising, giveaways, or other promotions

    More Competition Less Competition
    Monopolistic Competition

    Gap           Levis        Lucky 


    Same as pure competition except for product differentiation
    Monopolistic Competition

    Are these shampoos/conditioners different?


    Pantene $14.50 Frederic Fekkai $54
    Monopolistic Competition

    Are these mascaras different?


    Maybelline Sisley
    $4 $43
    BARRIERS TO ENTRY
    1. Industry Barrier
    2. Government Interventions
    CUSTOMERS
    • Market
    - The structure where the firm belongs.
    - Type of customers
    • Knowing and understanding your customers are essential to identify
    the service or good to present to the market.
    • Market Segmentation
    - Categorizing your customers according to demographic and geographic
    groups.
    - Demographics – gender, age and income
    - Geographic segments – consumers belonging to a certain place
    SUPPLIERS
    • As the source of materials used in production by a producer, a seller,
    or a manufacturer
    COMPETITORS
    First Type: No leverage
    Second Type: Competitive Advantage
    Third Type: Colluding
    SUBSTITUTE
    • Goods that can replace other goods because of similarities,
    appearances, uses among others

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