BU/224 BU224 BU 224 Unit 10 Discussion 1

BU 224 Unit 10 Discussion 1

Unit 10: Unit 10: Oligopolistic Markets and Monopolistically Competitive Markets - Discussion

Topic: Role of Advertising

Assume that you are going to start a small business of your own. Further, imagine that you are able to adequately differentiate your product, or service so that you can establish your business as a monopolistically competitive firm.

a.          Describe the business and its likely main competitors.

b.          How would you structure your advertising and customer service to differentiate your product/service?

c.           How easy would it be for new competitors to enter your market and erode your customer base or selling price?

d.          What would be your prognosis for the long-term profitability of such a business?

e.          What could you do to protect that long-term profit stream?

 



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