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Differentiation Strategy
 
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Differentiation strategies are attractive whenever buyers’ needs and preferences are too diverse to be fully satisfied by a standardized product or service. The essence of a broad differentiation strategy is to offer unique product or service attributes that a wide range of buyers find appealing and worth paying for. A company attempting to succeed through differentiation must study buyers’ needs and behavior carefully to learn what buyers think has value and what they are willing to pay for. Then the company must include these desirable features to clearly set itself apart from rivals lacking such product or service attributes. Successful differentiation allows a firm to - Command a premium price. Increase unit sales (because additional buyers are won over by the differentiating features). And gain buyer loyalty to its brand (because some buyers are strongly attracted to the differentiating features and bond with the company and its products). Differentiation opportunities can exist in activities all along an industry’s value chain and particularly in activities and factors that meaningfully impact customer value. Such activities are referred to as uniqueness drivers have a high impact on differentiation rather than on a company’s overall cost position. A low-cost provider strategy can always defeat a differentiation strategy when buyers are satisfied with a basic product and don’t think “extra” attributes are worth a higher price.
Views: 3208 Gregg Learning
Pricing & Business Strategy - Low cost & Differentiation
 
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Pricing & Business Strategy - https://stefano.tips/PricingStrategy Looking for Corporate Training in Strategic Design and Business Innovation? https://stefano.tips/Website Schedule a complimentary session: Strategic Design for organisations (30 minutes): https://stefano.tips/LetsTalk Online programmes on Strategic Design: https://stefano.tips/ContentPlatfrom Subscribe to Stefano's Blog: https://stefano.tips/Blog What is the relationship between the pricing point an organisation chooses for its products and its overall business strategy? Let's start by saying that to compete sustainably companies can adopt one of the following strategies: Low cost or Differentiation. The main challenge in developing a low-cost strategy is squeezing the costs of production to the bone. An organisation can do that by standardising and consequently automating the activities required to manufacture their products. McDonald's provides an excellent example of this. In the recent movie The Founder, you can see how Richard James "Dick" McDonald and his brother Maurice James "Mac" McDonald created a low-cost strategy in the food industry. The following slide shows how low-cost manufacturers despite selling their products at a reasonable price, can generate higher margins, therefore higher profits, by reducing the cost of production. The second type of strategy leading to sustainable competitive advantage is differentiation. Companies competing through a differentiation strategy produce premium products commanding higher prices which more than justify the increased cost of production. Creating a premium product frequently leads to increased cost of production for two main reasons: the quality of the raw material required, and more importantly the lack of standardisation and automation in the activities required for manufacturing the product. Premium car brands, e.g. Ferrari still outsourcing the productions of specific parts of their vehicles requiring the expertise and the art of local artisans; machinery can't easily replace these activities. The following slide shows how companies competing with a differentiation strategy can generate higher margins (despite increased prices) by commanding higher prices for their products. Competing purely on price is not a valuable business strategy. Not only cutting prices damage the company itself (reputation, brand, credibility) but also generates retaliations among competitors. In so doing fostering a destructive competition in the industry a contest in which no company can win. Stefano Messori is a Design Strategist and Corporate Trainer in the area of Creativity and Strategic Design for Business Innovation.
Views: 354 Stefano Messori
Porter's Generic Strategies
 
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Learn more about Porter's models of strategy here on the tutor2u website: https://www.tutor2u.net/business/reference?q=porter Porter's generic strategies of low-cost and differentiation are introduced and explained in this revision video.
Views: 134636 tutor2u
Porter - Strategic Positioning: Cost leadership vs. Differentiation
 
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To receive additional updates regarding our library please subscribe to our mailing list using the following link: http://rbx.business.rutgers.edu/subscribe.html
Views: 11728 Rutgers Accounting Web
Competitive Strategies: Cost Leadership vs Differentiation vs Focus Strategy
 
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http://www.woltersworld.com General competitive strategies for businesses. Cost leadership: make things as cheap as possible to pass on the benefits to consumers. Differentiation: make your product different and special so others will pay more for it. Focus: focus on one single group with whom to sell your product or service.
Views: 18655 Wolters World
Focused Strategy
 
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What sets focused strategies apart from low-cost leadership or broad differentiation strategies is a concentration on a narrow piece of the total market. The targeted segment, or niche, can be defined by geographic uniqueness or by special product attributes that appeal only to niche members. The advantages of focusing a company’s entire competitive effort on a single market niche are considerable. A focused strategy based on low cost aims at securing a competitive advantage by serving buyers in the target market niche at a lower cost and a lower price than rival competitors. Focused differentiation strategies are keyed to offering carefully designed products or services to appeal to the unique preferences and needs of a narrow, well-defined group of buyers (as opposed to a broad differentiation strategy aimed at many buyer groups and market segments). Niche strategies are focused closely on serving segment-specific or niche markets. Business strategy may alternatively be based on the process of product or service differentiation across a range of markets and market segments.
Views: 1405 Gregg Learning
Marketing Strategy| Porter's Generic Strategies in Hindi| Cost leadership,Differentiation and Focus
 
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Views: 27570 Intellectual Indies
Monopolistic Competition
 
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Having now studied perfect competition and Pure Monopoly, we will now step back towards the competitive end of the spectrum of market structures and examine monopolistic competition. A monopolistically competitive market is one with many small firms each selling differentiated products. The entry barriers are low, but firms do have some price making power. Since each firm's output is slightly different from each other firm's, the individual sellers will face a downward sloping demand curve, much like a monopolist. But since entry barriers are low, the chance of an individual firm earning economic profits in the long-run is small. This lesson will introduce the characteristics of monopolistic competition and provide a detailed graphical analysis of an individual firm in a monopolistically competitive market. We will look at the market for restaurants, which shows may of the characteristics of the market structure. In the end we will determine whether monopolistically competitive markets are efficient by examining the firm's average total cost and its marginal cost compared to the price in the long-run equilibrium. Want to learn more about economics, or just be ready for an upcoming quiz, test or end of year exam? Jason Welker is available for tutoring, IB internal assessment and extended essay support, and other services to support economics students and teachers. Learn more here! http://econclassroom.com/?page_id=5870
Views: 255892 Jason Welker
Price Differentiation Polakovic
 
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Cenova diferenciacia
Views: 72 Matúš Polakovič
What is HOTELLING'S LAW? What does HOTELLING'S LAW mean? HOTELLING'S LAW meaning & explanation
 
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What is HOTELLING'S LAW? What does HOTELLING'S LAW mean? HOTELLING'S LAW meaning & explanation. Source: Wikipedia.org article, adapted under https://creativecommons.org/licenses/by-sa/3.0/ license. Hotelling's law is an observation in economics that in many markets it is rational for producers to make their products as similar as possible. This is also referred to as the principle of minimum differentiation as well as Hotelling's linear city model. The observation was made by Harold Hotelling (1895–1973) in the article "Stability in Competition" in Economic Journal in 1929. The opposing phenomenon is product differentiation, which is usually considered to be a business advantage if executed properly. The street is a metaphor for product differentiation; in the specific case of a street, the stores differentiate themselves from each other by location. The example can be generalized to all other types of horizontal product differentiation in almost any product characteristic, such as sweetness, colour, or size. The above case where the two stores are side by side would translate into products that are identical to each other. This phenomenon is present in many markets, particularly in those considered to be primarily commodities, and results in less variety for the consumer. Businesses in fact follow both product differentiation and Hotelling's law, as contrary as they may seem. Take for example JetBlue. The low cost airline markets itself as a revolutionary type of airline – cheaper airfare, nicer planes, better locations. As JetBlue tries to differentiate its product from its competitors, it also adopts similar flight schedules and similar service. An extension of the principle into other environments of rational choice such as election "markets" can explain the common complaint that, for instance, the presidential candidates of the two American political parties are "practically the same". Once each candidate is confirmed during primaries, they are usually established within their own partisan camps. The remaining undecided electorate resides in the middle of the political spectrum, and there is a tendency for the candidates to "rush for the middle" in order to appeal to this crucial bloc. Like the paradigmatic example, the assumption is that people will choose the least distant option, (in this case, the distance is ideological) and that the most votes can be had by being directly in the center.
Views: 3598 The Audiopedia
Sales Training Technique #88 - Selling Differentiated Products to Reduce Discount Negotiation
 
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Sales Training Technique #87 - Selling Differentiated Products to Reduce Discount Negotiation. If you only have one product to sell in your market segment, you can create a a tiered product offering by adding services such as: maintenance, upgrades, support, training, and faster delivery. Adding different services to the product will allow you to negotiate up or down with a client who is seeking discount pricing. Victor Antonio Bio: http://www.VictorAntonio.com -------------------------- Author, trainer and speaker Victor Antonio is proof that the American dream of success is alive and well. A poor upbringing from one of the roughest areas of Chicago didn't stop Victor from earning a B.S. Electrical Engineering, an MBA and building a 20 year career as a top sales executive and becoming CEO of a multimillion dollar high-tech company. Prior to being CEO he was President of Global Sales and Marketing for a $420M company. He was tasked with building a global sales force, establishing contract agreements, developing financial pricing models and in charge of developing the corporate brand and marketing the company's services for worldwide acceptance. Before that he was Vice President of International Sales in a Fortune 500 $3B corporation at the time. Within a two and half year time period he grew their business from $14M to $98M in annual revenue. During that time period his sales totals were $162M and was selected from over 500 sales managers to join the President's Advisory Council for excellence in sales and management." Victor has shared the big stage with some of the top business speakers in the nation including: Rudy Giuliani, Zig Ziglar, Dr. Robert Schuller, Phil Town (Author of Rule #1), Paul Ortellini (CEO of Intel), John May (CEO of FedEx Kinkos) and many other top business speakers.
Views: 2462 Victor Antonio
Make Them Laugh: How Differentiated Marketing Builds Successful Brands by Andrew Strickman
 
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Andrew has spent two decades as a creative innovator, marketer, strategist and social media obsessive focused on drawing consumers and brands closer together through rich, joint storytelling. He leads brand and creative at realtor.com® and Move, Inc, a subsidiary of News Corporation. Since arriving at Move, Andrew has relaunched the realtor.com brand twice, helmed 3 award-winning campaigns — Find it First, Accuracy Matters and Real Estate in Real Time — and took home 3 Webby Awards for the digital video series “The Homebuying Process in Plain English With Elizabeth Banks.” Andrew previously led global experiential marketing at Yahoo!, where his team built out the biggest global marketing program in the history of the company for the 2012 Summer Games, and spent eight years as a partner and chief creative at Ammo Marketing, The Original Influencer Marketing Agency (acquired in 2006 by Dentsu Aegis Media). Andrew sits on the board of directors of 826 Valencia, a San Francisco non-profit focused on building writing and creative skills for children 6-18. “MAKE THEM LAUGH: HOW DIFFERENTIATED MARKETING BUILDS SUCCESSFUL BRANDS” When your chief competitor has focused on building a strong consumer brand, while your company spent more energy building a best of breed product, there’s significant ground to cover in pursuit of mass-awareness, preference, adoption and success in this era of big brands. Andrew tells the story of realtor.com’s four-year path to product and advertising differentiation using humor to tell its story.
Views: 1265 FunnyBizz Conference
Pricing Strategy: All Pricing Strategies Full Description
 
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This video is all about pricing strategies. All time of pricing strategies are given. This knowledge is very important of B.B.A student. A student can use this knowledge in many course. He also can use this when he or she make an assignment............ So, the descriptions are given below.............. Price positioning and visibility........... 1. Market penetration strategy A relatively low market entry price may be used with the objective of building volume and market position. 2. Market skimming strategy A high price may be selected to generate large margins. Illustrative pricing strategies.................... 1.High active strategy- Highlight the high price Superior value, quality, dependable products such as high end alcoholic beverages High price even in promotional campaigns show consumers their differentiated product approach; also keeps competitors away. 2. High passive strategy- do not highlight the high price, but focus on non-price product features Very small target markets, often niche markets. High priced brands such as expensive watches, car brands, top end apparel companies market their products with non-price features to convince the consumers with product quality and performance. 3.Low active strategy- highlight the low price Day to day products, consumable goods, airlines, insurance, travel agents use this strategy to highlight the low price and claim they are offering value against competitors through lower price Walmart, Shopno and other brands use it. Particularly favorable when the brands are well known- then consumers do not have a question of quality arising 4. Low passive strategy- do not highlight the low prices Used by small producers whose brands are not familiar to buyers and have low cost features than other competitors, eg- small suppliers who provide food to retail stores/ department stores do not have highlighted price, although their price is relatively low. By not highlighting the low price, the firm runs less danger that potential buyers may assume the brand is inferior to other brands. Legal and ethical considerations........................ Price fixing- Illegal conspiracy between a group of firms (competitors) that they will not sell a product under a certain amount. Medicine companies resort to this. CNG and Rickshaw walas do it in CNG or rickshaw stands. Price discrimination- the practice of charging different prices to different buyers for goods of like grade and quality. Deceptive pricing- Consumers are often attracted to a store by a promoted low price item. Once in the store, either that product is claimed to be sold out or be of lesser quality and the consumer is persuaded to buy an expensive product. Predatory pricing- Charging very low price for a product to drive away competitors. Once they are out, increase the price so that consumers are forced to buy from the firm. These days very rarely used. Pricing management............... Price segmentation- Price may be used to appeal to different market segments. Airlines/ travel agencies have packages for different consumers. Industrial goods price depend on low/ large volume buying. Value chain pricing- How manufacturers sell to distributors (retailers and wholesalers) with a margin as profit Price flexibility- Fixed price or can be negotiated? Product life cycle pricing- Occasionally prices are declined through the product life cycle of a brand..................... Thank You.....For Watching.................................
Views: 254 Creative NaaHianN
Best-Cost Provider Strategy
 
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Companies pursuing best-cost strategies aim squarely at the sometimes great mass of value-conscious buyers looking for a good-to-very-good product or service at an economical price. Best-cost provider strategies are a hybrid of low-cost provider and differentiation strategies that aim at satisfying buyer expectations on key quality/features/performance/service attributes and beating customer expectations on price. When a company can incorporate appealing features, good-to-excellent product performance or quality, or more satisfying customer service into its product offering at a lower cost than that of rivals, then it enjoys “best-cost” status - it is the low-cost provider of a product or service with upscale attributes. A best-cost provider strategy works best in markets where product differentiation is the norm and attractively large numbers of value-conscious buyers can be induced to purchase midrange products. A best-cost provider usually needs to position itself near the middle of the market with either a medium-quality product at a below-average price or a high-quality product at an average or slightly higher-than-average price. A company’s competitive strategy should be well matched to its internal situation and predicated on leveraging its collection of competitively valuable resources and competencies.
Views: 712 Gregg Learning
PU Foam Application | Best 500 Products
 
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Idea is a leading Ceiling Sheet importer and distributor in Sri Lanka. As a well reputed organization in wood substitute material. We provide high-quality decorative home improvement to your ceiling sheet solutions, offering differentiated products to meet specific customer needs. All products are imported to meet the highest standards. Thanks to our R & D unit, we are able to offer our i-Panel Ceiling sheet range at very competitive prices. i-Panel products are available on the professional and do-it-yourself markets all over the Country. With a motivated, self-directed workforce, we aim for a dominant marketing and product leadership by offering qualitative and reliable i-Panel ceiling sheet through innovative technological features and superior customer service.
Business-Level Strategy- Differentiation Strategy
 
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Business-Level Strategy Pt 3- Differentiation Strategy
Views: 7324 Andy Cavanagh
Product Marketing:  How to differentiate your product and get premium prices
 
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In product marketing, the secret to commanding premium prices and getting paid more is to differentiate. To see more, visit my blog: http://www.marlonsnews.com for more videos and articles. That's how Tide detergent has differentiated their product for 60 years by averaging one new product innovation per year. If you want to learn how to differentiate your product in 2015 or now 2016, how to market a premium product, how to promote your new product, or how to create the ultimate marketing machine, you'll find this video of value. The video quality isn't hot. I was still learning how to use my dslr camera, which was a bit of a challenge in combination with a greenscreen and Sony Vegas Pro greenscreen editing! Anyway, Michael Porter in his definitive book Competitive Advantage explains that you either: 1. Compete on price 2. Compete on differentiation The difficulty today is being able to sustain your differentiation because everything changes more rapidly. This is where Michael Porter's concept of barriers to entry comes into play. By having a barrier to entry, yo9u make it hard for others to copy your differentiation. The other way you can do it is to plan on being knocked off and continue to push innovation, coming up with new ideas. Finally, you can just flat out be a better marketer. -~-~~-~~~-~~-~- Please watch: "Digital Marketing - 7 Steps To Success In 2018" https://www.youtube.com/watch?v=beoU89Era0s -~-~~-~~~-~~-~-
Views: 1689 Marlon Sanders
The Marketing Mix - Pricing
 
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On Facebook: https://www.facebook.com/365careers/ On the web: http://www.365careers.com/ On Twitter: https://twitter.com/365careers Subscribe to our channel: https://www.youtube.com/365careers This lesson on Marketing strategy introduces the concept of Pricing. Watch more at https://www.udemy.com/mba-in-a-box-business-lessons-from-a-ceo . This video is part of a series of short lessons about Business Strategy. The complete module can be found on Udemy, as a core part of the MBA in a Box course by CEO Valentina Bogdanova and 365 Careers. The course provides a complete Business Education: Business Strategy, Management, Marketing, Accounting, Decision Making & Negotiation in just under 10 hours. -------------------------------------------------- Marketing module table of contents: Marketing: An Introduction Introduction to Marketing What is Marketing's role? Who works in Marketing? Marketing's key processes Marketing: Building a Marketing Strategy What is a marketing plan? The psychology of customers - needs, wants, and demands Conducting marketing research The different stages of marketing research Collecting Primary Data for Marketing Research Performing client segmentation Choosing a target customer group Marketing: How to set up an effective Marketing Mix The four Ps of Marketing and their importance Marketing: How to set up an effective Marketing Mix - Product decisions The product concept Classifying a firm's products The typical product lifecycle Product branding Product packaging Marketing: How to set up an effective Marketing Mix - Pricing decisions The variables influencing product pricing The demand curve Performing break-even calculations Marketing: How to set up an effective Marketing Mix - Place decisions Setting up product distribution Types of distribution channels The advent of e-commerce Marketing: How to set up an effective Marketing Mix - Promotion decisions The essence of marketing promotion Creating a marketing campaign The importance of social media Marketing: How to set up an effective Marketing Mix - A dynamic concept The four Ps of Marketing - A dynamic concept Marketing: Marketing strategy in the long run Allocating the funds available for Marketing - The budgeting exercise Using KPIs to improve decision-making Short-term vs. Long-term marketing goals Interpreting and calculating the Customer-Lifetime-Value formula -------------------------------- Pricing is the one variable a company can change overnight and see an immediate effect on revenues and profits. However, pricing decisions inconsistent with a firm’s competitive strategy can be dangerous, which is why companies should address the topic with much caution and attention. There are three important components we need to distinguish in this process. The amount a product costs to be produced, the price customers pay to buy the product, and the value they acquire from the product. If a company aims at cost leadership, then the focus will be costs (trying to keep them as low as possible). The company must offer a price slightly lower than the one offered by competitors. Conversely, if a firm’s strategy is differentiation, then the critical factor will be the value delivered to customers. Costs are not that important, as companies offering a differentiated product can charge more. So, pricing must be coherent with competitive strategy, although sometimes it is tempting to adjust prices to stimulate short-term gains of market share and increases of sales. Top-level managers have to stay focused on the big picture and make coherent decisions in line with the firm’s long-term strategy.
Views: 25101 365 Careers
Carmakers in India are adopting a differentiated product strategy
 
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Carmakers in India are adopting a differentiated product strategy to address the burgeoning fleet and taxi market. They are either selling models that are past their prime to this market or positioning their products differently in terms of features and price.
Views: 293 Mint
Product Differentiation and Price Leadership
 
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Vlad Rybak - Minsk Commercial
Views: 61 vlad rybak
Mini Lecture On Generic Strategy
 
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According to Michael Porter, there are three cornerstone strategies that can help organizations gain a competitive edge, which is a cost advantage, differentiation, and focus. Porter named three general strategies (generic strategy). The cost advantage of emphasis on the manufacture of standard products with very low cost per unit for consumers who are sensitive to price changes. Differentiation is a strategy with the goal of making products that provide the services that are considered unique in the entire industry and aimed at consumers who are not too concerned with price changes. Focus means making products and providing services that meet the needs of a small group of consumers. Porter strategy requires organizational management, control procedures, intensive systems are different. Large companies with access to resources which are usually competing with the foundation or the cost advantage and differentiation, while small firms often compete with the runway focus. Porter stressed the importance of strategic planners do a cost benefit analysis to evaluate various opportunities among the units of existing business and potential business units within the company. Various activities and resources can improve competitive advantage because thereby reduced costs and increased differentiation. In addition, Porter also stressed the need for companies to divert the skills and expertise between autonomous business units effectively to gain competitive advantage.
Views: 1706 singo artho
What is MARKET STRUCTURE? What does MARKET STRUCTURE mean? MARKET STRUCTURE meaning
 
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✪✪✪✪✪ WORK FROM HOME! Looking for WORKERS for simple Internet data entry JOBS. $15-20 per hour. SIGN UP here - http://jobs.theaudiopedia.com ✪✪✪✪✪ ✪✪✪✪✪ The Audiopedia Android application, INSTALL NOW - https://play.google.com/store/apps/details?id=com.wTheAudiopedia_8069473 ✪✪✪✪✪ What is MARKET STRUCTURE? What does MARKET STRUCTURE mean? MARKET STRUCTURE meaning - MARKET STRUCTURE definition - MARKET STRUCTURE explanation. Source: Wikipedia.org article, adapted under https://creativecommons.org/licenses/by-sa/3.0/ license. In economics, market structure is best defined as the organisational and other characteristics of a market. Types of market structures: 1. Monopolistic competition, a type of imperfect competition such that many producers sell products or services that are differentiated from one another (e.g. by branding or quality) and hence are not perfect substitutes. In monopolistic competition, a firm takes the prices charged by its rivals as given and ignores the impact of its own prices on the prices of other. This market structure exists when there are multiple sellers who are attempting to seem different than each other. 2. Oligopoly, in which a market is run by a small number of firms that together control the majority of the market share. Duopoly, a special case of an oligopoly with two firms. Monopsony, when there is only a single buyer in a market. Oligopsony, a market where many sellers can be present but meet only a few buyers. 3. Monopoly, where there is only one provider of a product or service. Natural monopoly, a monopoly in which economies of scale cause efficiency to increase continuously with the size of the firm. A firm is a natural monopoly if it is able to serve the entire market demand at a lower cost than any combination of two or more smaller, more specialized firms. 4. Perfect competition, a theoretical market structure that features low barriers to entry, identical products with no differentiation, an unlimited number of producers and consumers, and a perfectly elastic demand curve. The imperfectly competitive structure is quite identical to the realistic market conditions where some monopolistic competitors, monopolists, oligopolists, and duopolists exist and dominate the market conditions. The elements of Market Structure include the number and size distribution of firms, entry conditions, and the extent of differentiation. These somewhat abstract concerns tend to determine some but not all details of a specific concrete market system where buyers and sellers actually meet and commit to trade. Competition is useful because it reveals actual customer demand and induces the seller (operator) to provide service quality levels and price levels that buyers (customers) want, typically subject to the seller’s financial need to cover its costs. In other words, competition can align the seller’s interests with the buyer’s interests and can cause the seller to reveal his true costs and other private information. In the absence of perfect competition, three basic approaches can be adopted to deal with problems related to the control of market power and an asymmetry between the government and the operator with respect to objectives and information: (a) subjecting the operator to competitive pressures, (b) gathering information on the operator and the market, and (c) applying incentive regulation.
Views: 9813 The Audiopedia
Michael Porter Competitive Strategies | Cost Accounting | CPA Exam BEC | CMA Exam
 
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Webiste: www.farhatlectures.com Like us on Facebook: https://www.facebook.com/accountinglectures Visit the website where you can search using a specific term: http://www.farhatlectures.org/ Connect with Linked In: https://www.linkedin.com/in/mansour-farhat-cpa-cia-cfe-macc-2453423a/ In developing a sustainable competitive position, each firm purposefully or as a result of market forces arrives at one of the two competitive strategies: cost leadership or differentiation.3 Cost Leadership Cost leadership is a competitive strategy in which a firm outperforms competitors in produc- ing products or services at the lowest cost. The cost leader makes sustainable profits at lower prices, thereby limiting the growth of competition in the industry through its success at reduc- ing price and undermining the profitability of competitors, which must meet the firm’s low price. The cost leader normally has a relatively large market share and tends to avoid niche or segment markets by using the price advantage to attract a large portion of the broad market. The differentiation strategy is implemented by creating a product or service that is unique in some important way, usually in regard to higher quality, better customer service, improved product features, or some type of innovation. Sometimes a differentiation strategy is called product leadership to refer to the innovation and features in the product. In other cases, the strategy might be called a customer-focused or customer-solution strategy, to indicate that the organization succeeds on some dimension(s) of customer service. This perception allows the firm to charge higher prices and outperform the competition in profits without reduc- ing costs significantly. Many industries, including consumer electronics and clothing, have differentiated firms. The appeal of differentiation is especially strong for product lines for which the perception of quality and image is important, as in cosmetics, jewelry, and automo- biles. Tiffany, Bentley, Rolex, Whirlpool, and BMW are good examples of firms that have a differentiation strategy.
Gap Filler Application | Best 500 Products
 
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Idea is a leading Ceiling Sheet importer and distributor in Sri Lanka. As a well reputed organization in wood substitute material. We provide high-quality decorative home improvement to your ceiling sheet solutions, offering differentiated products to meet specific customer needs. All products are imported to meet the highest standards. Thanks to our R & D unit, we are able to offer our i-Panel Ceiling sheet range at very competitive prices. i-Panel products are available on the professional and do-it-yourself markets all over the Country. With a motivated, self-directed workforce, we aim for a dominant marketing and product leadership by offering qualitative and reliable i-Panel ceiling sheet through innovative technological features and superior customer service.
What is BERTRAND COMPETITION? What does BERTRAND COMPETITION mean?
 
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What is BERTRAND COMPETITION? What does BERTRAND COMPETITION mean? BERTRAND COMPETITION meaning - BERTRAND COMPETITION definition - BERTRAND COMPETITION explanation. Source: Wikipedia.org article, adapted under https://creativecommons.org/licenses/by-sa/3.0/ license. SUBSCRIBE to our Google Earth flights channel - https://www.youtube.com/channel/UC6UuCPh7GrXznZi0Hz2YQnQ Bertrand competition is a model of competition used in economics, named after Joseph Louis François Bertrand (1822–1900). It describes interactions among firms (sellers) that set prices and their customers (buyers) that choose quantities at the prices set. The model was formulated in 1883 by Bertrand in a review of Antoine Augustin Cournot's book Recherches sur les Principes Mathematiques de la Theorie des Richesses (1838) in which Cournot had put forward the Cournot model. Cournot argued that when firms choose quantities, the equilibrium outcome involves firms pricing above marginal cost and hence the competitive price. In his review, Bertrand argued that if firms chose prices rather than quantities, then the competitive outcome would occur with price equal to marginal cost. The model was not formalized by Bertrand: however, the idea was developed into a mathematical model by Francis Ysidro Edgeworth in 1889. The model rests on very specific assumptions. There are at least two firms producing a homogeneous (undifferentiated) product and can not cooperate in any way. Firms compete by setting prices simultaneously and consumers want to buy everything from a firm with a lower price (since the product is homogeneous and there are no consumer search costs). If two firms charge the same price, consumers demand is split evenly between them. It is simplest to concentrate on the case of duopoly where there are just two firms, although the results hold for any number of firms greater than 1. A crucial assumption about the technology is that both firms have the same constant unit cost of production, so that marginal and average costs are the same and equal to the competitive price. This means that as long as the price it sets is above unit cost, the firm is willing to supply any amount that is demanded (it earns profit on each unit sold). If price is equal to unit cost, then it is indifferent to how much it sells, since it earns no profit. Obviously, the firm will never want to set a price below unit cost, but if it did it would not want to sell anything since it would lose money on each unit sold. Why is the competitive price a Nash equilibrium in the Bertrand model? First, if both firms set the competitive price with price equal to marginal cost (unit cost), neither firm will earn any profits. However, if one firm sets price equal to marginal cost, then if the other firm raises its price above unit cost, then it will earn nothing, since all consumers will buy from the firm still setting the competitive price (recall that it is willing to meet unlimited demand at price equals unit cost even though it earns no profit). No other price is an equilibrium. If both firms set the same price above unit cost and share the market, then each firm has an incentive to undercut the other by an arbitrarily small amount and capture the whole market and almost double its profits. So there can be no equilibrium with both firms setting the same price above marginal cost. Also, there can be no equilibrium with firms setting different prices. The firms setting the higher price will earn nothing (the lower priced firm serves all of the customers). Hence the higher priced firm will want to lower its price to undercut the lower-priced firm. Hence the only equilibrium in the Bertrand model occurs when both firms set price equal to unit cost (the competitive price). Note that the Bertrand equilibrium is a weak Nash-equilibrium. The firms lose nothing by deviating from the competitive price: it is an equilibrium simply because each firm can earn no more than zero profits given that the other firm sets the competitive price and is willing to meet all demand at that price. The Bertrand model rests on some very extreme assumptions. For example, it assumes that consumers want to buy from the lowest priced firm. There are various reasons why this may not hold in many markets: non-price competition and product differentiation, transport and search costs. For example, would someone travel twice as far to save 1% on the price of their vegetables? The Bertrand model can be extended to include product or location differentiation but then the main result – that price is driven down to marginal cost – no longer holds. With search costs, there may be other equilibria apart from the competitive price – the monopoly price or even price dispersion may be equilibria as in the classic "Bargains and Rip-offs" model. ...
Views: 7545 The Audiopedia
Product Differentiation Through Windowing Strategies - Tim Dodd
 
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Tim Dodd, Senior Advisor, Technicolor and former President of Ultraviolet, shares insights from an HD Digital trial that boosted electronic purchase and perceived value.
Views: 63 ThisIsCTAM
1539 Cost Leadership Strategy A
 
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Cost leadership strategies succeed in new product development when the firm manages manufacturing and distribution costs. The advantage of cost leadership strategy is high profits, but the business strategy can be threatened by competitors offering differentiated products and services. Read the full post at www.globalnpsolutions.com/idea-incubator/
Views: 2938 Global NP Solutions
Product Differentiation\r\nConsider the following statement: \xe2\x80
 
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Product Differentiation Consider the following statement: “It is impossible for a firm to produce a relatively low-cost, yet somewhat highly differentiated product.” Is this statement true or false? Provide the reasoning to support your answer.   Not Everyone Will Be A First Mover Why would a firm regularly choose to be a second mover? Likewise, why would a firm purposefully be a late mover?     1 page per question. APA format. In-text citations. 2 scholarly references. one source should be the textbook: http://dl.yazdanpress.com/BOOKS/MANAGEMENT/Strategic_Management-Hitt_Ireland_Hoskisson.pdf
Views: 11 xfgnxgn gfxbxfgn
Publix Differentiation Strategy
 
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This video is about Publix Differentiation Strategy
Views: 205 Spencer Elston
PU Foam | Best 500 Products
 
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Idea is a leading Ceiling Sheet importer and distributor in Sri Lanka. As a well reputed organization in wood substitute material. We provide high-quality decorative home improvement to your ceiling sheet solutions, offering differentiated products to meet specific customer needs. All products are imported to meet the highest standards. Thanks to our R & D unit, we are able to offer our i-Panel Ceiling sheet range at very competitive prices. i-Panel products are available on the professional and do-it-yourself markets all over the Country. With a motivated, self-directed workforce, we aim for a dominant marketing and product leadership by offering qualitative and reliable i-Panel ceiling sheet through innovative technological features and superior customer service.
Amazon Product Barriers to Entry | Differentiating Your Private Label Product
 
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Use different Barriers to Entry for your Amazon FBA Product to minimize competition. Combine a high priced item with small inexpensive items to make a bundle! Become a FBA Seller Below! ▶️My Amazon Course: https://goo.gl/NBGTxH ▶️Amazon FBA Group: https://www.facebook.com/groups/1260229020753608/ ▶️Product Research Tool - Jungle Scout: https://affiliate.junglescout.com/idevaffiliate.php?id=1652 - SOCIAL MEDIA - AMAZON FBA PAGE: https://www.facebook.com/AmazonSellerLuke/ FACEBOOK: https://www.facebook.com/luke.wechselberger INSTAGRAM: https://www.instagram.com/luke_wechselberger/ TWITTER: @FBAFREAK - My Camera Gear & Setup - Panasonic G85 - https://amzn.to/2t1X3El Mavic Air Drone - https://amzn.to/2sWxFA3 Canon 70D - http://amzn.to/2hIewPV Lense Used - http://amzn.to/2AXpA0o Rode Video Mic Pro - http://amzn.to/2yRTrWx Rode Video Mic - http://amzn.to/2AV9xAd Tripod - http://amzn.to/2yTdrIe MacBook Pro: http://amzn.to/2jAdHpp MacBook Multi-Port Adapter: http://amzn.to/2jyGISl #Amazon #FBA #Differenciate **We are a participant in the Amazon Services LLC Associates Program, an affiliate advertising program designed to provide a means for us to earn fees by linking to Amazon.com and affiliated sites.
Views: 219 Luke W
TOP 10 Bullion Products - 1 oz Silver Rounds | SD Bullion
 
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Buy 1 oz Silver Rounds - https://SDBullion.com/silver/silver-rounds/1-oz-silver-rounds Learn more about Gold, Silver and other Precious Metals get our FREE eBook - https://SDBullion.com/book Coming in 2nd place in our TOP 10 Bullion Product countdown... SD Bullion customers purchase millions of 1 oz Silver Bullion rounds each and every year. By industry definition, only private silver mints produce 1 troy ounce silver rounds containing a minimum .999 fine silver bullion composition. Silver bullion buyers often buy 1 oz silver rounds due to their generally lower price premiums versus typically higher priced government mint issued silver coins. Popular 1 oz silver bullion round mints include the 1 oz silver bullion round you are looking at right now from the Sunshine Mint. As well there are 1 oz silver bullion rounds made by ourselves here at SD Bullion, Silvertowne, and others. Some 1 oz silver bullion round mint brands also qualify for Silver IRAs, making them also available for tax deferred long term silver retirement savings. The Sunshine Mint has differentiated their bullion product for example, by infusing this 1 oz silver bullion round design with anti counterfeit technology. This Sunshine Mint 1 oz silver round contains a MintMark SI seal which allows end user verification of inlaid holograms using the Sunshine Mint decoder lens card. One ounce silver bullion rounds are packaged and shipped in a variety of ways. Depending on the size of your order, they can come in protective plastic slips, in protective mint tubes, all packaged tightly and discreetly for safe fully insured shipment to door. When silver bullion product price premiums are low, one can often buy low premium 1 oz silver bullion rounds very closely above the fluctuating silver spot price. Typically when selling 1 oz silver rounds to bullion dealers like ourselves, customers will yield bid prices at or just below the dynamic silver spot price. One troy ounce silver bullion rounds will remain a favorite amongst silver bullion buyers, for they allow purchasers to yield more silver bullion troy ounces versus competing higher priced silver coins and other competing silver bullion products. You can buy or sell a wide array of highly respected 1 oz silver rounds products at SDBullion.com https://sdbullion.com/silver/silver-rounds/1-oz-silver-rounds Stay tuned to our Top 10 bullion product playlist, our customer’s number 1, most often purchased bullion product, is coming up next. #SilverRounds #SilverBullion #SDBullion Full Playlist Notes: https://SDBullion.com/blog/best-bullion-products-top-10-countdown --
Views: 729 SD Bullion
Business Strategies
 
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An explanation for a business strategy called "Porter's Generic Strategies Model", with a comparison between "Differentiation", "Cost leadership" and "Focus" strategies.
Views: 264 Nouran Sameh
Microsemi SimpliPHY Family of Single-Port Fast Ethernet and Gigabit Ethernet PHYs
 
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Visit Future Electronics to purchase these products - https://www.futureelectronics.com/search/?selectedTab=products&q=VSC85%3Arelevance%3AinStockFlag%3Atrue&text=VSC85 Today, I’ll be discussing the features and benefits of the SimpliPHY™ Family of Single-Port Fast Ethernet and Gigabit Ethernet PHYs from Microsemi. A physical layer transceiver or “PHY” connects a data link layer device, such as an Ethernet switch or FPGA with media access control sublayer, to a physical medium such as optical fiber or copper cable Read our Latest etech ALERT to learn more about these products -http://www1.futureelectronics.com/Mailing/etechs/Microsemi/etechALERT_Microsemi_NewEthernetPHYs/default_NA.html The SimpliPHY family is used in a wide variety of applications ranging from Industrial Automation & Manufacturing, to Medical. and also offers a differentiated feature set which excels in: • Low Cost, • Reliability and Longevity, • Timing Accuracy, and • Interoperability In summary, the new SimpliPHY single port FE/GE PHYs include features that address: • Lower cost with BOM savings and shorter design cycles • High reliability with line monitoring, SEU protection, and long production lifecycles • Enhanced timing accuracy with SyncE, and SOF features for IEEE1588-based systems, and • Interoperability at the MAC interface and as part of a full Ethernet solution SimpliPHY single port FE/GE PHYs are part of a full family of PHYs from Microsemi for both copper and fiber applications up to 12 ports. In addition to PHYs, Microsemi solutions include Ethernet Switches, FPGAs, Clock Management, Power Management, and Power over Ethernet (PoE) products. To view and purchase the product list of Microsemi devices, visit our website at www.FutureElectronics.com.
Views: 11710 Future Electronics
Differentiation Advantage
 
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Jeff Dyer, Brigham Young University BUSM 480 Lecture 2/10/14
Views: 695 OLS Sec
TOP 10 Bullion Products - 1 oz Silver Bars | SD Bullion
 
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Buy 1 oz Silver Bars - https://SDBullion.com/silver/silver-bars/1-oz-silver-bars Learn more about Gold, Silver and other Precious Metals FREE eBook - https://SDBullion.com/book Coming in 10th place in our TOP 10 Bullion Product countdown... SD Bullion customers purchase tonnes of 1 oz Silver Bullion bars each and every year. Both private and some government mints produce 1 troy ounce silver bullion bars containing a minimum .999 fine silver composition. Bullion buyers often buy 1 oz silver bars due to their generally lower price premiums versus typically higher priced government issued silver coins. Popular 1 oz silver bullion mints include the 1 oz silver bullion bar you are looking at right now from Sunshine Minting. As well there are 1 oz silver bullion bars made by Silvertowne, Geiger, Australia’s Perth Mint, and others. Some 1 oz silver bullion bar mint brands also qualify for Silver IRAs, making them also available for tax deferred long term retirement savings. The Sunshine Mint has differentiated their bullion product for example, by infusing this 1 oz silver bullion bar design with anti counterfeit technology. This Sunshine Mint 1 oz silver bar contains a MintMark SI seal which allows end user verification of inlaid holograms using the Sunshine Mint decoder lens card. One ounce silver bullion bars are packaged and shipped in a variety of ways. Some come in protective plastic sheets like this, others come in protective mint tubings, or packed with bubble tape protecting respective 1 oz silver bar allotments from clanging in transit. When silver bullion product price premiums are low, one can often buy low premium 1 oz silver bullion bars very closely above the fluctuating silver spot price. Typically when selling 1 oz silver bullion bars to bullion dealers like ourselves, customers will yield bid prices at or just below the dynamic silver spot price. One troy ounce silver bullion bars will remain a favorite amongst silver bullion buyers, for they allow purchasers to yield more silver bullion troy ounces versus competing higher priced silver bullion products. You can buy or sell various 1 oz silver bullion bar products at https://SDBullion.com/silver/silver-bars #SilverBars #SilverBullion #BestSilverBars Full Playlist Notes: https://SDBullion.com/blog/best-bullion-products-top-10-countdown --
Views: 536 SD Bullion
Sales Training Video #87 - Include Low Tier Sales Products to Protect Against Competition
 
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Sales Training Video #87 - Include Low Tier Sales Products to Protect Against Competition. Not having a lower tiered (priced) product in your sales product portfolio will leave you open to competition coming in and selling at a lower level. Once inside, the competition will then start moving up the sales product chain and begin selling your customer products that directly compete with your product; forcing you to deliver price concessions. Victor Antonio Bio: http://www.VictorAntonio.com -------------------------- Author, trainer and speaker Victor Antonio is proof that the American dream of success is alive and well. A poor upbringing from one of the roughest areas of Chicago didn't stop Victor from earning a B.S. Electrical Engineering, an MBA and building a 20 year career as a top sales executive and becoming CEO of a multimillion dollar high-tech company. Prior to being CEO he was President of Global Sales and Marketing for a $420M company. He was tasked with building a global sales force, establishing contract agreements, developing financial pricing models and in charge of developing the corporate brand and marketing the company's services for worldwide acceptance. Before that he was Vice President of International Sales in a Fortune 500 $3B corporation at the time. Within a two and half year time period he grew their business from $14M to $98M in annual revenue. During that time period his sales totals were $162M and was selected from over 500 sales managers to join the President's Advisory Council for excellence in sales and management." Victor has shared the big stage with some of the top business speakers in the nation including: Rudy Giuliani, Zig Ziglar, Dr. Robert Schuller, Phil Town (Author of Rule #1), Paul Ortellini (CEO of Intel), John May (CEO of FedEx Kinkos) and many other top business speakers.
Views: 1494 Victor Antonio
Focus strategy - defined
 
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Focus strategy - is a generic strategy which involves concentrating the marketing effort on a particular market segment and competing in this segment using cost actor or a differentiation approach. - created at http://www.b2bwhiteboard.com
Views: 2621 B2Bwhiteboard
How to replace a damaged floor panel
 
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Idea is a leading Ceiling Sheet importer and distributor in Sri Lanka. As a well reputed organization in wood substitute material. We provide high-quality decorative home improvement to your ceiling sheet solutions, offering differentiated products to meet specific customer needs. All products are imported to meet the highest standards. Thanks to our R & D unit, we are able to offer our i-Panel Ceiling sheet range at very competitive prices. i-Panel products are available on the professional and do-it-yourself markets all over the Country. With a motivated, self-directed workforce, we aim for a dominant marketing and product leadership by offering qualitative and reliable i-Panel ceiling sheet through innovative technological features and superior customer service.
PureVu Video H.264 Processors
 
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Cavium’s low cost and highly versatile media processors are ideal for creating cost-effective yet powerful home entertainment solutions for Wireless Display and IPTV Media boxes. These solutions combine local content streaming and extensive OTT (Over-The-Top) services in attractive form factor for consumers, Service provider, and hospitality customers. Emergence of the 'multiscreen content' trend requires an SOC that is both powerful and flexible for addressing variety of use cases encountered in the marketplace. According to In-Stat (now part of DisplaySearch), revenues from multiscreen content platforms will top $21 billion in 2014. As the ‘battle of screens’ continues to disrupt the traditional media and content models, the underlying technologies for enabling seamless multiscreen capabilities will play a crucial role in accelerating the consumer adoption. Cavium’s Media Processors for Miracast wireless display and OTT media streaming enable OEMs and service providers to leverage this momentum and introduce their differentiated products and services to the market. For more information, visit http://www.cavium.com
Views: 3709 Cavium Inc
DIFFERENTIAL PRICING
 
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-- Created using PowToon -- Free sign up at http://www.powtoon.com/youtube/ -- Create animated videos and animated presentations for free. PowToon is a free tool that allows you to develop cool animated clips and animated presentations for your website, office meeting, sales pitch, nonprofit fundraiser, product launch, video resume, or anything else you could use an animated explainer video. PowToon's animation templates help you create animated presentations and animated explainer videos from scratch. Anyone can produce awesome animations quickly with PowToon, without the cost or hassle other professional animation services require.
Views: 350 Kamal Ikhwan
What Is Meant By Monopolistic Competition?
 
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Monopolistic competition wikipediawhat is monopolistic competition? Definition and meaning definition, theory, characteristics meaning, concept defining boundless. Most important features of monopolistic competition. All firms have the same, relatively low degree of market power; They are all price makers. Monopolistic competition is a type of imperfect such that many producers sell products are differentiated from one another (e. The market power 9 nov 2010 monopolistic competition meaning, features in economics, article posted by gaurav akrani on kalyan city life blog definition under, the competition, there are a large number of firms that produce differentiated products which close substitutes for each other model describes common structure this also means demand curve will slope downwards refers to situation (ii) imaginary differences mean not really obvious but several or many sellers similar, slightly 29 feb 2008 is combines having brand proliferation it harder new firm enter 21 apr 2013 defined four main characteristics numbers buyers and sellerslow 26 may 2014 monopolies illegal considered as harmful economy consumer's welfare. Get information, facts, and pictures about monopolistic competition at the legal definition of monopoly is 80 percent market share relevant market, where basic factors in structure economic markets. On the other hand, if perfect competition was real, monopolistic is a market structure characterized by many firms selling products that are similar but not identical, so compete on factors form of imperfect and can be found in this means short run supernormal profit attracts new producers into definition single seller, unique product. By branding or quality) and hence are not perfect substitutes characterizes an industry in which many firms offer products services that similar, but. In a monopoly market, the seller faces no competition, as he define monopolistic competition that is used among sellers whose products are similar but not identical and takes form of. Competition is directly influenced by the means through which companies. Monopolistic competition meaning, features in economics. Monopolistic competition? Definition and meaningmarket structures monopolistic competition product differentiation definition of 'monopoly' the economic timesdefinition by facts, information, pictures economics. There are multiple forms of competition. Monopolistic competition wikipedia. This lesson discusses monopolistic competition meaning, concept and characteristics let us make an in depth study of the a competitive firm's demand curve is downward sloping, which means it will charge price that exceeds marginal costs. In the long run, demand is highly elastic, meaning that it sensitive to price changes definition of monopolistic competition market situation midway between extremes perfect and monopoly, displaying features both a economy relies on in order be successful. What is monopolistic competition? Definition, meaning and features competition economics online.
Views: 39 new sparky
Silicone Application | Best 500 Products
 
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Idea is a leading Ceiling Sheet importer and distributor in Sri Lanka. As a well reputed organization in wood substitute material. We provide high-quality decorative home improvement to your ceiling sheet solutions, offering differentiated products to meet specific customer needs. All products are imported to meet the highest standards. Thanks to our R & D unit, we are able to offer our i-Panel Ceiling sheet range at very competitive prices. i-Panel products are available on the professional and do-it-yourself markets all over the Country. With a motivated, self-directed workforce, we aim for a dominant marketing and product leadership by offering qualitative and reliable i-Panel ceiling sheet through innovative technological features and superior customer service.
TE3 2018: Cynthia Lin Lawell, Cornell University
 
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Conference Day 1, Panel 1: Cynthia Lin Lawell (Cornell University), Yuan Chen (University of California). Supply, Demand, and the Effects of Government Policy in the Chinese Automobile Market: A Random Coefficients Mixed Oligopolistic Differentiated Products Model. October 25, 2018. Visit https://energy.umich.edu/te3/2018-archives/ to view the slides complementing this talk. About the TE3 Conference: The Transportation, Economics, Energy and Environment Conference brings economic scholars together with government and industry practitioners to exchange ideas and strengthen collective knowledge for addressing transportation energy and environmental policy challenges. What transportation energy and environmental policies will foster progress toward long-term climate protection goals given the volatility of energy markets and uncertainties in consumer behavior? Relevant factors include technology cost and investment needs for vehicles, fuels and related infrastructure; changing demands for travel; social issues including changeable consumer behavior; new mobility services; car sharing; public transportation and other mode choice issues. The theme encompasses tensions between current low fuel prices and tightening fuel economy and GHG emissions standards, as well as longer-term issues around aligning infrastructure, fuel, and vehicle design and consumer education for a sustainable future. Hosted by the University of Michigan Energy Institute, this year’s conference will include four panels and two paper sessions on economic and policy research that addresses energy use in the transportation sector and its environmental implications. Last year’s conference featured an outstanding selection of papers covering fuel economy and emissions, technology incentives, alternative fuels, consumer adoption and behavior, impact of vehicle scrappage programs, and infrastructure.
The purpose of Five-Forces Analysis
 
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Porter’s Five Forces Model of Competition Threat of New Entrants Threat of New Entrants Threat of New Entrants Expected Retaliation Barriers to Entry Government Policy Economies of Scale Product Differentiation Capital Requirements Switching Costs Access to Distribution Channels Cost Disadvantages Independent of Scale Threat of New Entrants Threat of New Entrants Porter’s Five Forces Model of Competition Bargaining Power of Suppliers Bargaining Power of Suppliers Suppliers are likely to be powerful if: Suppliers exert power in the industry by: * Threatening to raise prices or to reduce quality Powerful suppliers can squeeze industry profitability if firms are unable to recover cost increases Supplier industry is dominated by a few firms Suppliers’ products have few substitutes Buyer is not an important customer to supplier Suppliers’ product is an important input to buyers’ product Suppliers’ products are differentiated Suppliers’ products have high switching costs Supplier poses credible threat of forward integration Threat of New Entrants Threat of New Entrants Bargaining Power of Suppliers Porter’s Five Forces Model of Competition Bargaining Power of Buyers Bargaining Power of Buyers Buyer groups are likely to be powerful if: Buyers compete with the supplying industry by: * Bargaining down prices * Forcing higher quality * Playing firms off of each other Buyers are concentrated or purchases are large relative to seller’s sales Purchase accounts for a significant fraction of supplier’s sales Products are undifferentiated Buyers face few switching costs Buyers’ industry earns low profits Buyer presents a credible threat of backward integration Product unimportant to quality Buyer has full information Threat of New Entrants Threat of New Entrants Bargaining Power of Buyers Bargaining Power of Suppliers Porter’s Five Forces Model of Competition Threat of Substitute Products Threat of Substitute Products Keys to evaluate substitute products: Products with similar function limit the prices firms can charge Products with improving price/performance tradeoffs relative to present industry products Example: Electronic security systems in place of security guards Fax machines in place of overnight mail delivery Threat of Substitute Products Threat of New Entrants Threat of New Entrants Bargaining Power of Buyers Bargaining Power of Suppliers Porter’s Five Forces Model of Competition Rivalry Among Competing Firms in Industry Rivalry Among Existing Competitors Intense rivalry often plays out in the following ways: Jockeying for strategic position Using price competition Staging advertising battles Making new product introductions Increasing consumer warranties or service Occurs when a firm is pressured or sees an opportunity Price competition often leaves the entire industry worse off Advertising battles may increase total industry demand, but may be costly to smaller competitors Cutthroat competition is more likely to occur when: Rivalry Among Existing Competitors Numerous or equally balanced competitors Slow growth industry High fixed costs Lack of differentiation or switching costs High storage costs Capacity added in large increments High strategic stakes High exit barriers Diverse competitors The Five Forces are Unique to Your Industry Five-Forces Analysis is a framework for analyzing a particular industry. Yet, the five forces affect all the other businesses in that industry. Competitor Analysis The follow-up to Industry Analysis is effective analysis of a firm’s Competitors Competitive Environment Industry Environment Competitor Analysis Assumptions What assumptions do our competitors hold about the future of industry and themselves? Current Strategy Does our current strategy support changes in the competitive environment? Future Objectives How do our goals compare to our competitors’ goals? Capabilities How do our capabilities compare to our competitors? Response What will our competitors do in the future? Where do we have a competitive advantage? How will this change our relationship with our competition? Future Objectives How do our goals compare to our competitors’ goals? Where will emphasis be placed in the future? What is the attitude toward risk? What Drives the competitor? Competitor Analysis What is the competitor doing? What can the competitor do? Future Objectives How do our goals compare to our competitors’ goals? Where will emphasis be placed in the future? What is the attitude toward risk? Current Strategy How are we currently competing? Does this strategy support changes in the competitive structure? Competitor Analysis
Views: 18 KNOWLEDGE PORTAL
Microeconomics - Chapter 13: Monopolistic Competition
 
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Monopolistic competition is a market structure in which barriers to entry are low, and many firms compete by selling similar, but not identical, products. This becomes the keystone difference between Monopolistic Competition and Perfect Competition markets. Differentiation of the product eclipses the service provided by the vendor of the product.
Views: 352 Dr. Bill Schlosser
Where to Focus Your Marketing Strategy
 
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Focus your marketing strategy on the one thing your company does best. This could be cost leadership, differentiation (think brand) or a niche. For example, Kia focuses on low-cost cars, BMW on differentiation and Aston Martin on a niche. Identify your biggest strength as a company and obsessively focus on it. http://www.b2binternational.com/publications/marketing-strategy-is-your-vision-in-focus/
Industry, Market and Dimensions of Differentiation
 
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-- Created using PowToon -- Free sign up at http://www.powtoon.com/ . Make your own animated videos and animated presentations for free. PowToon is a free tool that allows you to develop cool animated clips and animated presentations for your website, office meeting, sales pitch, nonprofit fundraiser, product launch, video resume, or anything else you could use an animated explainer video. PowToon's animation templates help you create animated presentations and animated explainer videos from scratch. Anyone can produce awesome animations quickly with PowToon, without the cost or hassle other professional animation services require.
Views: 28 Amy Clark
2019 Hyundai Palisade - Perfect SUV!
 
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All-New 2020 Hyundai Palisade Mid-size SUV All-New 2020 Hyundai Palisade Flagship SUV Brings Exceptional Comfort, Technology and Safety in a Bold Midsize SUV Palisade offers seating for up to eight and commodious cargo space with convenient features like power third-row seats and One-Touch second-row seats for ease of use As Hyundai’s flagship SUV, Palisade offers a host of technology features ideal for family road trips including a 10-inch navigation display, wireless charging, seven USB outlets, second-row ventilated seats, shift-by-wire and innovative roof-based diffuser vents Hyundai SmartSense technology comes standard on every Palisade Starting Pirce: $32.000 POWERTRAIN Palisade power comes from an Atkinson-cycle 3.8-liter V6, dual CVVT, direct-injected engine, for excellent power and efficiency. This 3.8-liter powerplant produces an estimated 291 horsepower @ 6,000 rpm and an estimated 262 lb.-ft. of torque @ 5,000 rpm. Palisade offers more standard horsepower than any other SUV in its competitive set and an unsurpassed level of torque. Palisade delivers that power to the wheels via an eight-speed automatic transmission with a multi-plate torque converter and offers both two-wheel and HTRAC® four-wheel-drive configurations, with a final drive ratio of 3.648 for confident acceleration. Special efforts were made to reduce Palisade NVH, with generous under-hood insulation, special sound-deadening carpets and powertrain tuning that delivers a smooth, linear response. In addition, Palisade offers drivers the ability to start the vehicle via remote key fob or via the Blue Link app. FLAGSHIP SUV DESIGN “Hyundai Palisade’s exterior and interior design clearly reflect its unique flagship identity with a premium, distinctive and bold road presence,” said SangYup Lee, head of Hyundai’s Design Center. “As the lead for Palisade design, it was a pleasure to work with our global design teams throughout its development and ultimately present this phenomenal product before you today.” Palisade’s styling conveys dignity with style in an understated theme that demonstrates clear differentiation worthy of a flagship SUV. From the front, a dominant, bold and wide cascading grille clearly represents a premium SUV. Separated composite headlamps and a vertically-connected forward lighting signature create a strong and distinctive front demeanor, with available LED headlights, LED daytime running lights and LED turn-signal mirrors. A powerful, extended hood profile creates an impressive road presence, while bold C-pillars and a panoramic glass side graphic convey generous third-row spaciousness. Full volume over-fenders and body sides offer muscular detailing. The rear view emphasizes a wide and stable stance via sinuous detailing and a vertical LED rear taillamp design. Panoramic rear glass coupled with a cutaway roof provides a generous sense of spaciousness to rear passengers. Available oversized 20-inch alloy wheels further fill out the Palisade flagship presence. This design has aerodynamic benefits as well, with a 0.33 coefficient of drag (Cd). Palisade achieves this low drag coefficient with specific design cues that include a fast A-pillar angle, a rear spoiler side garnish, an optimized front cooling area with an extended internal air guide, aero underside panels, and rear wheel aero deflectors. INTUITIVE UTILITY The interior design combines a sense of relaxation and comfort creating a serene environment with eight-passenger seating standard for family adventures. Leather-equipped models offer a premium, quilted Nappa leather, while on the instrument panel, smooth woodgrain trim in a wraparound interior design create a spacious, comfortable ambience. The One-Touch second row seat allows for one-touch operation of the seat forward and out of the way for easy access into and out of the third-row seat. For more convenience, the third row offers power-folding/unfolding and reclining seats. Second-row captain’s chairs are also available with ventilated seating surfaces. Every Palisade seating row offers USB outlets for convenience for all passengers, for a total of seven available USB outlets. Even more, a conversation mirror allows the driver to clearly see passengers in the rear. Palisade also offers a class-exclusive Blind View Monitor that complements the standard Blind Spot Collision Avoidance Assist, which provides easy-to-see body-side views whenever the turn signal is activated. The audio and navigation display is a generous 10.25 inch touchscreen in widescreen format, coupled with a 12.3-inch fully-digital TFT center instrument cluster offering various view modes and differentiated drive mode illumination. Two Bluetooth® devices can be connected simultaneously, with one for a mobile phone connection and the other for audio streaming. Full Review https://www.hyundainews.com/en-us/releases/2658 "SUBSCRIBE NOW"
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The Cost-Quality Arena
 
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http://academlib.com/3842/management/interlude_four_arenas_analysis#733 The first arena, cost quality, is where D'Aveni makes arguably his greatest contribution. Porter stated that there are only two basic competitive advantages, and thus only two main generic strategies: cost leadership and differentiation (plus their smaller target market versions, focused cost leadership and focused differentiation), and further, that if you attempt to do both at once you will become "stuck in the middle" and do neither well.49 Picture a line with one of the two generic strategies at both ends, and you are advised to locate your business-level strategy near one of the two end points. D'Aveni instead makes this limited continuum into a two dimensional construct, with price on the y-axis and perceived quality on the x-axis (and by using perceived quality, branding and advertising come into play, as it is possible to improve consumers' perceptions of brand quality with advertising). Now a cost leader is lower cost with lower perceived quality, and a differentiator is higher cost with higher perceived quality. Plotted on our axes we still have a line, but it is now one that goes up from left to right. More importantly, this line creates an "efficiency frontier" so that firms above or to the left of the line are dominated by firms on the line who offer either lower prices or better perceived quality or both (which is comparable to Porter's "stuck in the middle), but also allows for firms to be in the middle offering moderate perceived quality at moderate prices as long as they stay on the line (e.g., Macy's between Wal-Mart at the lower left and Nordstom at the upper right). Moreover, it allows for more reasoned discussion of firms like Target, which is a cost leader overall yet differentiated when compared to Wal-Mart (Target is slightly to the right of and above Wal-Mart on the efficiency frontier). ...
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