Types of competition
McDonalds vs Holiday Inn
What is indirect competition?
offering 20% off
What is price competition?
making a profit
oil industry
what is oligopoly?
What is direct competition?
free shipping on online orders
what is non-price competition?
higher standards of living
what are society benefits?
government regulated
what is a regulated monopoly?
Netflix vs Spotify?
What is indirect compeition?
online banking services
what is non-price competition?
improved products
what are customer benefits?
controlled by one business
what is a monopoly?
offering 20% off
What is a price competition?
offering high quality products, free shipping and outstanding customer service
what is non-price competiton?
encourages working efficiently
what are business benefits?
many business sell similar products and a similar price.
what is perfect competition?
July 4th sales
what is a price competition?
offering special sale and free delivery
what is price and non-price competition?
providing more products/ services
what are customer benefits?
no competition exist in this market structure.
what is monopoly?