https://m.youtube.com/watch?v=-eB70q3jgrcThis week we shall look at Monopolistic Competition. This is where you, as a consumer, spend most of your time. In Monopolistic Competition, there are many c

Discussion 

https://m.youtube.com/watch?v=-eB70q3jgrc

This week we shall look at Monopolistic Competition.  This is where you, as a consumer, spend most of your time.  In Monopolistic Competition, there are many companies selling similar but not identical products.  Put d.  ifferently, the goods are close, but not perfect substitutes.

Because of the relative ease of substitution. , companies often compete by advertising, services (for stores), brand names, brand loyalty and product differentiation more than by price.  Thus, prices of competing products tend to be close, but not identical as they are in Perfect Competition.

Since this market is where you – as a consumer – spend most of your time and a lot of your money, this week you are going to look at this market in action in your daily life.  When you go shopping this week, pay close attention to product prices and what information they tell you about how the products compete.

A grocery store is a good example.  Look at the soda aisle and by viewing the prices and the product locations on the shelves, which products are close substitutes, sufficiently differentiated that they have brand loyalty (i.e., a higher price), etc.  Do the same with canned vegetables.  Or undertake the same observational experiment in another type of store you regularly frequent.

Assignment Summary:

1) Watch the video above and under the YouTube videos for this week, watch videos 7, 3 and 6 – and then the rest for more information.

2) Then go to a store, as discussed above, and observe.  Observation is a well-established method of real world research.  It will probably be easier and perhaps more informative if you pick on one product line to observe and observe by brand name.  In particular, look for:

a) product prices,

b) product packaging (design, colors, logos, etc.); and,

c) product shelve placement relative to other similar products.

3)  Based on what you observe can you identify:

a) which products/brand names compete most closely with each other?  Are they placed close to each other on the shelves or far apart?

b) which products/brand names are aimed at cost conscious consumers?  Where are these on the store shelves for grocery stores?

c) which are aimed at higher end consumers? Where are these on the store shelves for grocery stores?

d) which products/brand names have a narrower market and command brand loyalty?  This one could be tricky to figure out.

4)  Share what you find with the class on the discussion board. 

What do you think you have learned from this activity? 

What have you learned about monopolistic competition?

5) Talk about advertising and  Price discrimination as well 

Needs to be at least 300 words. Apa format. 







Calculate Your Essay Price
(550 words)

Approximate price: $22

Calculate the price of your order

550 words
We'll send you the first draft for approval by September 11, 2018 at 10:52 AM
Total price:
$26
The price is based on these factors:
Academic level
Number of pages
Urgency
Basic features
  • Free title page and bibliography
  • Unlimited revisions
  • Plagiarism-free guarantee
  • Money-back guarantee
  • 24/7 support
On-demand options
  • Writer’s samples
  • Part-by-part delivery
  • Overnight delivery
  • Copies of used sources
  • Expert Proofreading
Paper format
  • 275 words per page
  • 12 pt Arial/Times New Roman
  • Double line spacing
  • Any citation style (APA, MLA, Chicago/Turabian, Harvard)

Our guarantees

Delivering a high-quality product at a reasonable price is not enough anymore.
That’s why we have developed 5 beneficial guarantees that will make your experience with our service enjoyable, easy, and safe.

Money-back guarantee

You have to be 100% sure of the quality of your product to give a money-back guarantee. This describes us perfectly. Make sure that this guarantee is totally transparent.

Read more

Zero-plagiarism guarantee

Each paper is composed from scratch, according to your instructions. It is then checked by our plagiarism-detection software. There is no gap where plagiarism could squeeze in.

Read more

Free-revision policy

Thanks to our free revisions, there is no way for you to be unsatisfied. We will work on your paper until you are completely happy with the result.

Read more

Privacy policy

Your email is safe, as we store it according to international data protection rules. Your bank details are secure, as we use only reliable payment systems.

Read more

Fair-cooperation guarantee

By sending us your money, you buy the service we provide. Check out our terms and conditions if you prefer business talks to be laid out in official language.

Read more

Order your essay today and save 10% with the coupon code: best10