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market
By
The commerce commanders
market
Is a place where buyers and
sellers interact with each
other for the purpose of
buying and selling of good
and services in
consideration of money
and satisfaction.
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Definition
Monopolistic competition
is that market structure in
which there is keen
competition,
but neither perfect nor
pure, among a large
number of producers or
suppliers.
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Defi nition
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Features of monopolistic market
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Features of monopolistic market
Freedom of Incomplete
entry and exit fl ow of
information
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Disadvantages
1. The condition are very strict, there are few perfectly competitive
markets.
2. In sufficient profits for investment.
3. Lack of product variety.
4. Unequal distribution of goods & income
Monopolistic competition vs
Monopoly
Monopolistic
Basis competition
Monopoly
No. of buyers Large Large
No. of sellers Large One
Nature of product Differentiated Unique
Entry & Exit Easy Restricted
Govt. Intervention Low to Medium Very high
Information Flow Very high high
Fa s t F o o d Re s t a u r a n t s : E x a m p l e s : Soft Drinks: Re t a i l C l o t h i n g :
McDonald's, Burger King, Wendy's, etc. Coca-Cola and Pepsi are two major players Examples: H&M, Zara, Forever 21, etc.
While the basic product (fast food) is in the soft drink industry. While their Clothing retailers offer similar types of
similar, each chain offers a unique menu, products are similar, they have different products but differentiate through style,
branding, and dining experience to flavors, advertising strategies, and brand pricing, and brand image
differentiate itself. images.
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conclusion
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