Choose a product or service that you are familiar with (something you use or have used,...

Choose a product or service that you are familiar with (something you use or have used, something related to a job you or someone close to you has held, etc.). Are there a lot or few firms in the industry? Are the products similar or identical or without close substitutes? Are there barriers to entry and, if so, what are they?

Solutions

Expert Solution

Answer : Product choosen is car. Car comes under automobile industry.

Automobile industry have few firms operating under oligopolistic environment. Automobile industry offers similar products with different features. Like in Sport Utility Vehicle offered by Volkswagen, Honda, Suzuki, Hyundai , Kia etc. All company offers almost same products with different products.

There are many barriers to entry for firms to enter the market. It is due to huge capital investment in the automobile market. It is due to scale of economies which create influence of firm in the industry.

Few number of firms and large of buyers in the oligopolistic market forms cartels agreements in order to avoid competation among few firms.

Hence concluded that above product was car and automobile industry operate under oligopolistic market and above was all about oligopolistic market.

Kindly rate for my answer please ? and feel free to ask your doubts.

Rahul Sunny answered 1 year ago

Next > < Previous

Related Solutions

Choose a form of deviance with which you are familiar (not necessarily something you’ve done, but...

Choose a form of deviance with which you are familiar (not necessarily something you’ve done, but something someone you know did) and discuss why society views that behavior as deviant and whether perceptions of that behavior have changed over time. Explain which theory of deviance you think works best for understanding the deviant behavior you’ve chosen to discuss.

Choose a commodity (a good or a service) that you are familiar with and discuss how...

Choose a commodity (a good or a service) that you are familiar with and discuss how and when demand and supply have changed (shifted) for this commodity. Provide examples of historical or current events where market demand and market supply for that commodity have shifted significantly, and state the factors that you believe have caused the shift in supply and/or in demand.

Choose a product you are familiar with. List the target market of that product, the behavior...

Choose a product you are familiar with. List the target market of that product, the behavior you would want consumers to do for that product, and the mental steps that may be necessary to move consumers to the behavior. Hint, here are some other mental steps/intervening variables, communication objectives in addition to awareness - knowledge of a benefit, preferring one brand over another

Choose a consumer product with which you are familiar and use regularly; write a 1-2 page...

Choose a consumer product with which you are familiar and use regularly; write a 1-2 page SWOT analysis for that product.

Select a product or service that you are familiar with, such as jeans, computers, or personal...

Select a product or service that you are familiar with, such as jeans, computers, or personal MP3 players. Once these items are selected, then you must undertake research into the specific items : target market and market segmentation. Your answer must contain information as to: How large is the target market, what is the future growth potential of this target market, how do/does the marketer reach this target market and so on? Also, mention in your answer that how will...

Choose a service or product currently in development. You may choose your own product or service...

Choose a service or product currently in development. You may choose your own product or service for this discussion. Describe the prototype developed for that service or product.

Choose a service scape for a business with which you are familiar and list key physical...

Choose a service scape for a business with which you are familiar and list key physical attributes of the servicescape and their impact on customer service and value. Explain how the servicescape sets the behavioral setting for your example.

Choose a product/service (this product or service can be an existing product or one you make...

Choose a product/service (this product or service can be an existing product or one you make up). Define the product to include value proposition, characteristics, and the nature of the product (consumer versus business product, and what type of product it represents) Identify the product’s position in the product line (if offered with other similar products) and, more broadly, the company’s overall product mix. Address the following: How would this product differ from other products in the product line (if...

Choose a concept with which you are familiar, and imagine that you have to teach that...

Choose a concept with which you are familiar, and imagine that you have to teach that concept to a classroom of students. Describe the concept that you will teach, then explain five specific things you could do to help students learn the concept. Describe what contemporary psychologists mean by the terms schema, script, personal theory, and worldview, and explain how each of these can influence learning and memory. Use concrete examples to illustrate your discussion.

Choose some product that you know something about (it could be in IT, or just about...

Choose some product that you know something about (it could be in IT, or just about anything – restaurant or take-out food, fitness programs, etc etc). Pick a particular firm operating in the market for this product that you like (or dislike!). It could be your local café or it could be Amazon, or it could be something in between. On no more (or not much more) than one typed page, explain the success (or failure) of this firm, again...

Subjects