MKT 100 Chapter Notes -Youtube, Quality Function Deployment, Kodak
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MKT 100 Full Course Notes
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Occurs when there is a single supplier of a particular product, such as a regional electrical utility that has control over price, quality, and quantity supplied. A monopoly is often government regulated and regulators often undertake financial audits and customer satisfaction surveys to check on whether the monopoly is making excessive profits and satisfying customers. Trends revealed in this publicly released information can be used by a potential new entry to argue against the continuation of the monopoly. In many countries there has been a shift away from state supported and regulated monopolies toward state regulated oligopolies because competition, even if only between two suppliers, gives consumers choice, which encourages innovation and price competition. Is a market dominated by a few large suppliers such as the detergent or aircraft industry. Oligopolies often evolve in industries that require very large investments in equipment, technology, and/or distribution because such a requirement encourages mergers and acquisitions.
