MGT 3300 Lecture Notes - Lecture 12: Monopolistic Competition, Headon, Marketing Mix
Document Summary
The competitive environment affects the number and types of competitors the marketing manager must face and how they may behave. Prudent managers choose strategies that avoid head-on competition and/or plan for competition when it is inevitable. Marketers should understand the differences among types of market situations: Monopoly: one company serves the entire customer base. Monopolistic competition: a number of different firms offer marketing mixes that at least some customers see as different. Oligopoly: a small number of firms controls the market. Pure competition: a large number of firms compete with essentially similar (commodity) products. Price is typically the determining factor in making a purchase. There are few producers of mini waterless vaporizer. In monopolistic competition, the firm attempts to monopolize its own target market, but competition still exists. As the ad indicates, sudacare mini waterless vaporizer attempts to avoid head- on competition by providing the following benefits to the customers: Contains a blend of aromatic ingredients, including menthol and eucalyptus.
