MKT 100 Lecture Notes - Product Differentiation

• School: Ryerson University
• Department: Marketing
• Course: MKT 100
• Professor: Marla Spergel

Document Summary

Firm"s market position relative to its largest competitor (units) = firm"s units / largest. A monopoly is where there is a single supplier, such as an electrical utility who has control over price, quality and supply. An oligopoly is a market dominated by a few suppliers such as the detergent industry or other industries that require very large investments in equipment or technology. Monopolistic competition has many suppliers with a variety of product, each of which has a small market share. Perfect competition is when many suppliers sell essentially the same product such as the.