Markets
- Created by: amyreed
- Created on: 08-06-15 15:40
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- Marketing and Competitive Markets
- Buyers and sellers meeting to exchange goods and services
- A market situation in which there are a large number of buyers (demand) and sellers (supply).
- Competitive market
- Implications for busineses
- Can thrive buy supplying goods and services efficiently and make profits
- Without competitive markets it will most likely fail. Especially if it doesn't meet demand and supply
- Monopoly Power
- When a firm has more than 25% of the market share.
- Achieving monopoly power
- Merger and Takeover
- Statutory monopoly
- Internal expansion
- Branding
- Cost barriers
- Consequence
- Good
- Research and development
- International competitiveness
- Exploitation of economies of scale
- Bad
- High prices
- Poor quality
- Good
- Monopoly
- Only one firm selling in a market.
- Reasons for Government Promotion in competition
- Firms can fail to keep up with tastes or changes in technology
- Firms may exploit workers with low pay
- Increase prices for consumers
- Predatory pricing
- Lowering prices so that small businesses cant compete
- Land grabbing
- Buying land that is a possible site for rivals to open supermarkets
- Buyers and sellers meeting to exchange goods and services
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