21 May WHICH MARKET STRUCTURES ARE THE MOST DOMINANT IN THE ADVERTISING INDUSTRY?
Need this done in 30 min !!! its a discussion question !!
There are four key types of market structures in the market economy: perfect competition, monopoly, oligopoly, and monopolistic competition. Each of the market structures has its own key distinguishing features. The marketing strategies of firms also differ from a market structure to a market structure.
â— Pick a specific industry from one of the market structures and explain how it would function and maximize profit.
â— What are the pros and cons of the various market structures in terms of benefiting consumers? Which market structures do you think benefit consumers more than others? Explain by using examples.
◠We are exposed to a number of advertisements on TV, in radio and in other places daily. Which market structures are the most dominant in the advertising industry? Which market structures don’t need to advertise? Why?
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