MKT 100 Chapter : Module Two

• School: Ryerson University
• Department: Marketing
• Course: MKT 100
• Professor: Richard Michon

Document Summary

Control over price, quantity, and quantity supplied. Market is dominated by a few large suppliers. Require very large investments in equipment, technology and/or distribution. The few suppliers compete on price, product features, advertising, and sales promotions, Some exhibit fierce price and innovation competition. Many suppliers offering a variety of products, each has a small loyal market share. A lot of product and service differentiation between rivals as well as price competition. Many suppliers sell essentially the same product. Supply and demand controls price, advertising and sales promotion will have little influence. Low-cost production of a quality product and efficient distribution determine success in a market. Market share -- total industry sales/specific time period. Closest and most immediate competition comes from rivals products that share design features and are targeted at the same consumers. Small start up companies or a large company in a different market often revolutionize a market.