MKT 100 Lecture 4: Week 4

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

Document Summary

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 thompson. This is a long term indicator of new product innovation and thus market share. Market share is measured as a company s percentage of total industry sales over a specified time period. A company s market share can change dramatically depending on how the market is defined. In practice, the market is normally specified by a realistic assessment of company resources and by company growth objectives.