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MKT 100 (974)
Lecture 3

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Department
Marketing
Course
MKT 100
Professor
Caitlin Mc Laughlin
Semester
Winter

Description
STRATEGIES AVAILABLE Extent of price competition Extent of product differentiation Extent of advertising TYPE OF COMPETITIVE MARKET PURE MONOPOLISTIC COMPETITION (Many sellers who PURE MONOPOLY OLIGOPOLY COMPETITION (One seller who Few sellers who Many sellers who follow the market sets the price for are sensitive to compete on price for identical, a unique product each other's prices nonprice factors) commodity products) None: sole seller Some: price leader Some: compete over Almost none: market or follower of sets price range of prices sets price competitors None: no other Various: depends Some: differentiate None: products on industry producers products from are identical competitors Much: purpose is to Little: purpose is to Little: purpose is Some: purpose toincrease demand is to inform but differentiate firm's inform prospects for product class avoid price products from that seller's products are available competition competitors STRATEGIES AVAILABLE Extent of price competition Extent of product differentiation Extent of advertising TYPE OF COMPETITIVE MARKET PURE MONOPOLISTIC COMPETITION (Many sellers who PURE MONOPOLY OLIGOPOLY COMPETITION (One seller who Few sellers who Many sellers who follow the market sets the price for are sensitive to compete on price for identical, a unique product each other's prices nonprice factors) commodity products) None: sole seller Some: price leader Some: compete over Almost none: market or follower of sets price range of prices sets price competitors None: no other Various: depends Some: differentiate None: products on industry producers products from are identical competitors Much: purpose is to Little: purpose is to Little: purpose is Some: purpose toincrease demand is to inform but differentiate firm's inform prospects for product class avoid price products from that seller's products are available competition competitors Situation Analysis- Cont’d Metrics of Competitive Analysis • Relative Share Measures • Market Share • Brand Mind Share • Brand Voice Share • Research and Development • Industry Concentration /Dominance Measures • Top 4 shares -> indices are low which is good • Herfindahl Index -> indices are low which is good Other 2009 Q4 Market Share 18% Nokia HTC 40% 2% Motorola 3% Apple RIM 17% 20% Examples of an oligopoly since there are a few sellers dominating the market Auto Sales Market Share GM Other 19% 22% Nissan 8% Ford 17% Chrysler 9% Honda Toyota 11% 15% An example of a monopolistic competition. 3% Search Engines 2010 3%1% 1%% 6% Google Yahoo
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