MKT 100 Study Guide - Final Guide: Perfect Competition, Monopolistic Competition, Performance Metric
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MKT 100 Full Course Notes
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Resources allocation process is not part of the competitive added-value. Market share is the company sales in $, divided by total $ industry sales. Market share is measured globally, by country, by region of a country, System control processes is not part of the competitive added-value. Perfect competition has many suppliers selling essentially the same. Monopolistic competition has many suppliers with a variety of products, Voice share is $ spent on advertising divided by all $ spent on. Marketing views suppliers mostly as partners, but sometimes as. There are 5 competitive forces in the porter model. Single supplier of a particular product that has control over the a. price, quality, and quantity supplied. Example: electrical utility i: oligopolistic competition: a. Market dominated by a few large suppliers i. The few suppliers compete on price, product features, advertising b. and sales promotion. c. The drive to constantly improve in ways that satisfy customers and reduce costs: monopolistic competition:
