monopolistically competitive markets: the power of successful product differentiation

Monopolistically Competitive Markets: The Power of Successful Product Differentiation

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Monopolistically Competitive Markets:

The Power of Successful Product Differentiation

Competitive and Monopolistic Aspects

Many different brands Product differentiation

Marketing/Advertising

The power of brand name

Page 3: Monopolistically Competitive Markets: The Power of Successful Product Differentiation

Competitive and Monopolistic Aspects

$5.99

$3.99

Generic-brand “aspirin”

Page 4: Monopolistically Competitive Markets: The Power of Successful Product Differentiation

Advertising Expenditures (% of 2007 US Sales)Estee Lauder 30 L’Oreal 27

Schering-Plough 24

Mastercard 24

Reckitt Bensicker 20Clorox 17

Molson 14

Campbell Soup 12

Page 5: Monopolistically Competitive Markets: The Power of Successful Product Differentiation

Successful Marketing and Advertising

Price

Quantity

Demand 1

Demand 2

Average Cost 1

Page 6: Monopolistically Competitive Markets: The Power of Successful Product Differentiation

Unsuccessful Marketing and Advertising

Price

Quantity

Demand

Demand 2

Average Cost 1

Average Cost 2

Page 7: Monopolistically Competitive Markets: The Power of Successful Product Differentiation

Strategia “Italia”

http://images.google.com/imgres?imgurl=http://sickathanverage.typepad.com/sta/images/2008/09/10/image.png&imgrefurl=http://sickathanverage.typepad.com/sta/2008/09/boy-oh-boyd.html&usg=__J1w45BeWiigbC5vN4GHPNtaYiN4=&h=490&w=800&sz=192&hl=en&start=54&um=1&itbs=1&tbnid=G3ntQ8WMSTt7jM:&tbnh=88&tbnw=143&prev=/images%3Fq%3Dimages%2Bof%2Bluxury%2Bgoods%26start%3D36%26um%3D1%26hl%3Den%26sa%3DN%26rlz%3D1T4ADBF_enUS327US327%26ndsp%3D18%26tbs%3Disch:1

http://images.google.com/imgres?imgurl=http://blog.taiwan-guide.org/wp-content/uploads/tilting-train.jpg&imgrefurl=http://blog.taiwan-guide.org/2006/11/fast-trains-coming-soon/&usg=__pPaMxViMnXb8RQPqpBB-QRXvbsw=&h=307&w=482&sz=27&hl=en&start=3&um=1&itbs=1&tbnid=uhKCf4nGiDk4kM:&tbnh=82&tbnw=129&prev=/images%3Fq%3Dimages%2Bof%2Bfast%2Btrains%26um%3D1%26hl%3Den%26sa%3DG%26rlz%3D1T4ADBF_enUS327US327%26tbs%3Disch:1

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http://images.google.com/imgres?imgurl=http://images.askmen.com/fine_living/keywords/wine_965871.jpg&imgrefurl=http://uk.askmen.com/fine_living/keywords/wine.html&usg=__MAU9k2dIlcyNpcE8a73oBbIO4fs=&h=300&w=300&sz=26&hl=en&start=2&um=1&itbs=1&tbnid=8vlXhE_eRwmsqM:&tbnh=116&tbnw=116&prev=/images%3Fq%3Dimages%2Bof%2Bwine%26um%3D1%26hl%3Den%26sa%3DX%26rlz%3D1T4ADBF_enUS327US327%26tbs%3Disch:1

Page 8: Monopolistically Competitive Markets: The Power of Successful Product Differentiation

“Strategia Italia”

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European Economy. Economic Papers 178/2002. Some selected ...ec.europa.eu/economy_finance/publications/pages/publication1719_en.pdf · Firms operate in a monopolistically competitive

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Endogenous Technology Adoption, Government Policy and ...obstfeld/281_sp06/ederington.pdf · extended to a monopolistically competitive environment by G¨otz (1999) in which decision

monopolistically competitive markets: the power of successful product differentiation

Documents

strategia italia slide

average cost

monopolistic aspects

advertising expenditures

power of brand

competitive markets

unsuccessful marketing

genericbrand aspirin