Question

Name a product (STARBUCKS) that you regularly purchase from a firm that operates in an oligopolistic...

Name a product (STARBUCKS) that you regularly purchase from a firm that operates in an oligopolistic industry. Explain why the product and firm fit the model of oligopoly. Think about the TV commercials and/or print advertisements that you’ve seen from this industry: What interdependence have you noticed between the firm you selected and its rivals in terms of product differentiation, price leadership, or price competition? Explain your answer. The Product is Starbucks. Any help is much appreciated.

Business   Economics   
0 0
Add a commentTranscribed image text
Next >

Homework Answers

Answer #1

Starbucks Coffee is the product that operates in the oligopolistic industry in the sense that there are few other firms in the same. Costa Coffee and Cafe Coffee Day are examples of rivals. The Starbucks fit in the oligopoly because the prices are set based on rivals action depicting the interdependence in the decision making. All the players in this industry fight for market share and merely for the revenues. There is no price competition and only market share is the key. We can also observe the price leadership in the sense if a price is set by Starbucks then other rivals follow. Thus this reflects an oligopolistic situation.

0 0
Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Log In

Sign Up

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
Name a product that you regularly purchase from a firm that operates in an oligopolistic industry....
Name a product that you regularly purchase from a firm that operates in an oligopolistic industry. Explain why the product and firm fit the model of oligopoly. Think about the TV commercials and/or print advertisements that you’ve seen from this industry: What interdependence have you noticed between the firm you selected and its rivals in terms of product differentiation, price leadership, or price competition? Explain your answer.
Point out an item that a person purchases regularly from a firm that functions in an...
Point out an item that a person purchases regularly from a firm that functions in an oligopolistic industry. Why do both the item and firm fit the model of oligopoly. Relate it to television advertisements or paper printed advertisements that you have seen from this type of industry. What is the interdependence that you have noticed between the firm you chose and it’s rivals regarding of product differentiation, price leadership or price competition?
a) How would you define the market(s) that Starbucks operates in? b) What firms are Starbucks...
a) How would you define the market(s) that Starbucks operates in? b) What firms are Starbucks major competitors? c) How is/are the market(s) divided among these competitors? d) How does Starbucks differentiate its product offerings from its competitors? e) Apart from product differentiation, what other means do these firms utilize to compete? f) Does/do this/these market(s) meet the definition of "Monopolistic Competition" as presented in Mankiw Chapter 16? Why/why not? g) How price elastic/inelastic might the demand curve for Starbucks...
Briefly state the basic characteristics of pure competition, pure monopoly, monopolistic competition, and oligopoly. Under which...
Briefly state the basic characteristics of pure competition, pure monopoly, monopolistic competition, and oligopoly. Under which of these market classifications does each of the following most accurately fit? (a) a supermarket in your hometown; (b) the steel industry; (c) a Kansas wheat farm; (d) the commercial bank in which you or your family has an account; (e) the automobile industry. In each case justify your classification. “Even if a firm is losing money, it may be better to stay in...
Please read the article and answear about questions. Determining the Value of the Business After you...
Please read the article and answear about questions. Determining the Value of the Business After you have completed a thorough and exacting investigation, you need to analyze all the infor- mation you have gathered. This is the time to consult with your business, financial, and legal advis- ers to arrive at an estimate of the value of the business. Outside advisers are impartial and are more likely to see the bad things about the business than are you. You should...
Please answer the following Case analysis questions 1-How is New Balance performing compared to its primary...
Please answer the following Case analysis questions 1-How is New Balance performing compared to its primary rivals? How will the acquisition of Reebok by Adidas impact the structure of the athletic shoe industry? Is this likely to be favorable or unfavorable for New Balance? 2- What issues does New Balance management need to address? 3-What recommendations would you make to New Balance Management? What does New Balance need to do to continue to be successful? Should management continue to invest...
Exploring Innovation in Action Power to the People – Lifeline Energy Trevor Baylis was quite a...
Exploring Innovation in Action Power to the People – Lifeline Energy Trevor Baylis was quite a swimmer in his youth, representing Britain at the age of 15. So it wasn’t entirely surprising that he ended up working for a swimming pool firm in Surrey before setting up his own company. He continued his swimming passion – working as a part-time TV stuntman doing underwater feats – but also followed an interest in inventing things. One of the projects he began...
Delta airlines case study Global strategy. Describe the current global strategy and provide evidence about how...
Delta airlines case study Global strategy. Describe the current global strategy and provide evidence about how the firms resources incompetencies support the given pressures regarding costs and local responsiveness. Describe entry modes have they usually used, and whether they are appropriate for the given strategy. Any key issues in their global strategy? casestudy: Atlanta, June 17, 2014. Sea of Delta employees and their families swarmed between food trucks, amusement park booths, and entertainment venues that were scattered throughout what would...
Mattel Responds to Ethical Challenges Business Ethics This case was written by Debbie Thorne, John Fraedrich,...
Mattel Responds to Ethical Challenges Business Ethics This case was written by Debbie Thorne, John Fraedrich, O. C. Ferrell, and Jennifer Jackson, with the editorial assistance of Jennifer Sawayda. This case was developed for classroom discussion rather than to illustrate either effective or ineffective handling of an administrative, ethical, or legal discussion by management. All sources used for this case were obtained through publicly available material. Mattel, Inc. is a world leader in the design, manufacture, and marketing of family...
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT