date: april 24, 2013 topic: monopolistic competition aim: how does monopolistic competition exist?...
TRANSCRIPT
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DateDate: April 24, 2013: April 24, 2013
TopicTopic: Monopolistic: MonopolisticCompetitionCompetition
AimAim: How does monopolistic : How does monopolistic competition exist?competition exist?
Do NowDo Now: Multiple Choice : Multiple Choice Questions. Questions.
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Beginning in the mid-1970’s Pepsi Cola launched a marketing campaign called the Pepsi Challenge. The challenge took the form of a taste test.
TODAY WE WILL TAKE THE PEPSI CHALLENGE!!TODAY WE WILL TAKE THE PEPSI CHALLENGE!!
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Monopolistic Competition
Many companies compete in an open market to sell products that are similar but not identical.
Each firm holds a monopoly over its own particular product.
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Four Conditions of Monopolistic Competition
Many firms.
Few artificial barriers to entry.
Slight control over price.
Differentiated Products.
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Monopolistic Competition
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Non-price CompetitionMonopolistic competition also takes the form of
non-price competition.Competition through ways other than lowering
prices.
I WILL FIGHT YOU IN WAYS OTHER THAN CHANGING MY PRICES!
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NONPRICE COMPETITIONSTATION #1
PHYSICAL CHARACTERISTICS
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THESE SNEAKERS LOOK BETTER AND ARE MUCH MORE COMFORTABLE, KIM!
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NONPRICE COMPETITIONSTATION #2
LOCATION
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FINALLY WATER! BUT WAIT A SECOND! THAT WATER MAY COST ME MY SPOTS!
WE’RE HITTIN THE OCEAN PALACE FOR OUR SONS COLLEGE GRADUATION DINNER!
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NONPRICE COMPETITIONSTATION #3
SERVICE LEVEL
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I CAN JUST SIT IN MY CAR AND THEY BRING ME FOOD!
THE SERVICE USED TO BE SO MUCH BETTER HERE!
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NONPRICE COMPETITIONSTATION #4
ADVERTISING, IMAGE, AND STATUS
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HEY, WHAT GREEN SHIRT DO YOU WANT TO BUY?
YO! THAT HILFIGER SHIRT IS MAD NICE. IT SAYS HILFIGER ON IT.
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OligopolyMarket dominated
by a few large profitable firms.
Ex: airlines and gas companies.
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Summary activity – Answer the Aim.
How does monopolistic How does monopolistic competition exist?competition exist?
YES, THIS WILL BE COLLECTED.