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+--- Thread: How do we advertise a monopolistic competition market? (/thread-162271.html)
How do we advertise a monopolistic competition market? - HeatZ - 06-07-2014 03:55 AM
For example if we want to advertise shop A, to gain higher profit than shop B or C.
Shop A,B,C are monopolistic competition (not pure monopoly)
Please and thank you
- Pascal Perry - 06-07-2014 04:03 AM
Dear HeatZ,
In monopolistic (also called imperfect) competition, advertisers will focus on product differentiation, that is, focusing on differences of their products over competitors' in terms of, to name but few characteristics:
• brand reputation, history, and longevity
• quality, safety, and security
• packaging, and appealing
• elements of recipe or composition
• location
• service, support, and convenience
• guarantee
Price is not in the picture because monopolistic competition is not based primarily on price. As a matter of fact, monopolistic competition is also known as nonprice competition.
—Pascal Perry
Online Findability and SEO Strategist
Incidentally, avid marketer