MKT 100 Lecture Notes - Monopolistic Competition, Oligopoly, Walmart

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25 Apr 2012

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MKT100 Principles of Marketing
Thursday January 19 2012
Lecture #2 Notes
Market Planning & Analysis
Why is Marketing Grey? Marketing is about making recommendations
Doing or not doing something
Slide 6
Monopoly: Control over everything, how much products available for sale
Oligopoly: Few suppliers because it typically requires investment
Monopolistic Competition: Lots of suppliers, their products are differentiated
Perfect Competition: Lots of suppliers, the products are undifferentiated = consumers cannot
tell the difference; treated as commodities
Slide 8
Market Share: is a part owned by one company/particular industry
Slide 10
Why else is it important to define a market? Don’t want to miss out on opportunities
Slide 11
Less concentrated & more competitors: Easier to establish yourself in those markets
Slide 15
Higher Share of Mind will ultimately lead to Share of Market; The more customers that think
about that product, the more likely they will purchase the product
Share of Voice is a very simple calculation; how much I spend on advertising in comparison to
everyone in the industry
Share of R&D: How much I spend in Research and Development compared to everyone in the
o Why? If your numbers are going to down and everyone else’s is going up, it means they
are becoming more innovative
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