BUS 343 Chapter Notes - Chapter 3: Bc Hydro, Market Segmentation, Monopolistic Competition
20 Nov 2012
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Communicate, understand and find someone that will engage in exchange with you. Customers are different from each other on not only simple demographics, but what they value, find interesting, read, believe, enjoy, hate, relate to, identify with . Because customers different from what they value and you can target a particular segment for maximum profit: toshiba printers are segmented to small, medium, large businesses and home users. If your product is completely unique, has no competition and substitution, people need it to survive and demand is without limits, then market segmentation is a waste of time. Competition in the macro environment one firm supplies a product, and can control the price. Example: bc hydro: monopoly, oligopoly, monopolistic competition: Many sellers, with some product differentiation and hence some monopoly power and control over price few sellers, each with substantial market share. Example: microsoft, apple, gas companies within a particular segment. Location and how their food is served: perfect competition:
