Competition As A Monopolistic Competition

The monopolistic rivalry business structure incorporates numerous organizations offering somewhat separated items. There is a simple passage into the business sector by new firms over the long haul, and the organizations are sufficiently extensive to impact the aggregate supply. There are likewise various measurements of rivalry, including dissemination outlets, promoting, and item characteristics. The peripheral expense will be not exactly the cost at its benefit amplifying yield level. As indicated by the content, a monopolistic contender can't make long-run benefit (Colander, 2013).

A monopoly is when a single company owns the market of a certain product. Monopolies can be successful, but it is also possible for monopolies to lose money. Monopolies will lose money if the average total cost is greater than the price that people are willing to pay. There are multiple reasons for why monopolies would lose money. For example, monopolies can lose money because of the change in taste of the consumer.

Besides, there are always many new entrants enter the market with the flow of labor and capital (Laudon, 2014, pp. 124). Although the requirements for the entry to the mobile market is relative higher than others, the number of new entrants are considerable while customers are more selective. As a result, those companies like the T-Mobile in this case that are lack of competitive advantages will be omitted by customers. As for the substitute, the development of entertainment tools decrease the desire of the mobile phone although there is little instrument can replace the mobile phone

Competition is prevalent in various aspects of life, including sports, school, and jobs. Everyone at some point in their lifetime will have to compete against others in order to achieve a goal or earn a prize. It’s how the world has worked for a long time; it’s survival of the fittest and this minor competition between everyone is how we have continuously gotten smarter, faster, and stronger. Competition is necessary to a certain degree, but how much is too much? It’s definitely not a bad thing, and as long as there’s a healthy amount, it can be beneficial because it fosters self-improvement, and it will push people to go all out and try their absolute best.

My lineage is complicated and blended with multiple different cultures and origins. On my maternal side, the surname from my grandfather it O’Toole which derives from Ireland and my grandmother Wells, which comes from Great Britain. Replicated on my paternal side, I have both roots from Ireland and England. Although these two countries are a powerful force in my lineage, my ancestors also have come from Pakistan, Germany, and most recently Eastern Canada. The matrilineage of my family is much easier to track and I feel as if that side of my ancestry has more history than the others may hold.

- The smartphone industry is very capital intensive due to high research and development (R&D) costs and expensive manufacturing facilities. This raises the barrier of entry and makes it difficult for small companies to enter. Many of the firms that compete in this industry have existing long-term contractual relationships with mobile carriers and benefit from their significant brand equity. These companies also have a great deal of knowledge and experience through economies of learning, which gives them a major cost advantage over smaller entrants. New entrants will have difficulty getting carriers to adopt their phones because many carriers are already in profitable deals with the large mobile phone manufacturers.

Do You Think Video Games Should Be A Sport? Cameron,Junkins April/7/16 What if I told you that video games is a sport? Do you agree?

The Change-Readiness Assessment was right on point on most of the scores. After adding my scores, I started asking questions. In fact, I thought I was going to score high in all but for optimism, but I was wrong. The resourceful, confidence, and passion/drive score reminded me of my first job as a sales associate. It was mandatory for all to make monthly sales goals and it was tough associate in my location since our location was a dead shopping center. Even though I was not doing badly, I was bored stiff. Something terrible happened in one of our busy high volume stores and due to that, our District Manager fired everybody in that store. He reached out to all the other store locations close by for Spanish speaking volunteers to work in that

•Monopolistic competition- When an industry contains many rival firms, each of which has a comparable but at least slightly different product. Restaurants, are an example, all serve food but of different types of food and in different sites. Manufacture costs are above what could be attained if firms sold equal products, but consumers have an advantage from the variety.

Oligopolistic Markets are less common, but still prevail in the modern economy. An Oligopolistic business is one with few competitors, basing its revenue off of “outsmarting” its opponents by analyzing their decisions and predicting the outcome. Having an analysis of an opponent provides the basis for Oligopoly, as income is based on providing a product that has more features than another product, released to the public around the same time. The Cellular industry provides a pristine example of the Oligopolistic Market.

Smartphone market is fast-moving and very high competitive due to intense competition between two big smartphone producers, Apple and Samsung. At the beginning, Apple dominated this market solely by introducing a new innovative type of smartphone by Steve Jobs that has revolutionized people lifestyle and mobile industry. A few years after launching iPhone, a new fast following competitor, Samsung came into this market, and their sales have outperformed Apple from the year 2011 (According to Chart A1 in Appendix). In term of developing their product, Samsung has created its products by following Apple’s technology since the beginning of producing its smartphone, therefore there are many patent lawsuits between them. Since Steve Job passed away, Apple has continued to develop its core competence, which is an innovation of new type of smartphone that could help them to take back their market share from its rival, Samsung. Nonetheless, the competition between Apple and Samsung will still continue intensively in the future.

1. The Smartphone industry is a well established market and the threats of a new entrant is low, as technology needed to rival the devices already available is quite advance if they want to differentiate from them

In the opinion of Baumol and Blinder (2011, p. 235), "monopolistic competition is a market structure characterized by many small firms selling somewhat different products." The authors in this case further note that the output of each entity is small in comparison to the market's aggregate output of competing but closely related products. With that in mind, the mobile phone market exhibits some key characteristics of monopolistic competition. In this market, customers in need of mobile phones are presented with a wide range of options to choose from. For instance, a customer who enters a mobile phone handset shop has the option of purchasing a Motorola, Nokia, Samsung, Blackberry or even an LG handset. All these products despite being closely related are also largely differentiated. As Tucker (2010, p. 268) notes, "the key feature of

Trends in the market include the growing number of people within the 15-29 age range. Also, phones are being used for much more than just calling, other functions like texting and music playing capabilities have dominated much of a user’s data usage. As for market characteristics, the mobile industry has reached almost 50% penetration with about 130 million subscribers, and reaching its maturity. The cost structure has been very confusing for consumers, with hidden fees, overcharges, and lacks to reward users who do not use their plans to the max. And finally, channels include all service provider stores and retail consumer stores, for example, Target, Walmart, and Best Buy.

Apple and Samsung are the major competitors in the smartphone field. We would, like to discuss why they’re leading and conclude which one is better. In the electronic industry these two companies fight are considered as the highest massive ever. They mainly clash for brand image and brand reputation but any consequences regarding this fight, the impact should be faced by both these companies in terms of brand reputation loss and also the loss of huge amount of money over the litigations We would like to discuss the following,