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What role does market play in the distribution of goods and services?
Wiki User
∙ 11y ago
Definition of 'Perfect Competition'
A market structure in which the following five criteria are met:
1. All firms sell an identical product.
2. All firms are price takers.
3. All firms have a relatively small market share.
4. Buyers know the nature of the product being sold and the prices
charged by each firm.
5. The industry is characterized by freedom of entry and exit.
Definition of 'Oligopoly'
A situation in which a particular market is controlled by a small group of firms.
An oligopoly is much like a monopoly, in which only one company exerts control over most of a market. In an oligopoly, there are at least two firms controlling the market.
The retail gas market is a good example of an oligopoly because a small number of firms control a large majority of the market.
Definition of 'Monopoly'
A situation in which a single company or group owns all or nearly all of the marketfor a given type of product or service. By definition, monopoly is characterized by an absence of competition, which often results in high prices and inferior products. According to a strict academic definition, a monopoly is a market containing a single firm
Definition of 'Monopolistic Market'
A type of market that features one, if not all, of the traits of a monopoly such as high price levels, supply constraints, or excessive barriers to entry. Because this type of market would be comprised of one supplying firm, consumers would have no choice but to purchase solely from this firm. Without This type of market stands in contrast to a perfectly competitive market.
Wiki User
∙ 11y ago
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Which are the Factors affecting the selection of distribution channel?
selection of channel :the selection of distribution is affected by many of factors, which play significant role while choosing the channel for distribution. It may include the buying pattern of consumer, type of the product is perishable, or auto mobile, weight and bulk and it also depends on the company's resources.the main affecting factors are following..Organization objectives - If company objective is to have mass appeal and rapid market penetration.type of product - Perishable products should have a short distribution channel, FMCG goods should have a wide reaching, intensive distribution channel.nature and extent of market- Distribution to consumer market or industrial markets would be different channel structures.existing channel for comparable product- company may chose it's existing channel of distribution for relative product.buying habit of customers- Understanding consumer needs and criteria for buyingChannel Availability - Channels may not be availablethus these factors puts effect on the selection of channel .
What role does advertising play in the distribution of goods and services?
There are many roles of advertising such as;1. To dispose a person towards buying a product.2. To support a cause.3. To encourage less consumption....like tobacco product.4. To elect a candidate.5. To raise money for charity.6. To publicize union or management position in strike.
How does advertising play an important role in the market?
Advertising exposes consumers to choices. A consumer may find a different brand of a certain product less expensive, one that fits into his/her budget.. It keeps people aware of the available products and services that are in the market-place.
What was the product life cycle of the Hula Hoop?
developed and tested on U.S. playgrounds and was found to have the longest play value. After only four months on the market, 25 million Hula Hoops had been sold. In less than a year, sales had almost completely stopped
The concept of voluntary exchange means?
Term voluntary exchange Definition: The process of willingly trading one item for another. The emphasis here is on "willingly." Voluntary exchanges are the heart and soul of market transactions, and should be contrasted with the "involuntary" exchanges mandated by government taxes, laws, and regulations. While involuntary government-forced exchanges play an important role in a mixed economy, economists really, really like voluntary market exchanges because they promote economic efficiency.
What role do the government play in distribution and exchange of goods and services?
find it yourself
Why do entreprenuers play a key role in the market system?
they determine what goods and services are produced
What role do entrepreneurs play in producing goods and services?
Entrepreneurs are innovators. They come up with new ideas for products or services.
How do government play a role in a economic flow?
They use taxes to provide public goods and services.
Which are the Factors affecting the selection of distribution channel?
selection of channel :the selection of distribution is affected by many of factors, which play significant role while choosing the channel for distribution. It may include the buying pattern of consumer, type of the product is perishable, or auto mobile, weight and bulk and it also depends on the company's resources.the main affecting factors are following..Organization objectives - If company objective is to have mass appeal and rapid market penetration.type of product - Perishable products should have a short distribution channel, FMCG goods should have a wide reaching, intensive distribution channel.nature and extent of market- Distribution to consumer market or industrial markets would be different channel structures.existing channel for comparable product- company may chose it's existing channel of distribution for relative product.buying habit of customers- Understanding consumer needs and criteria for buyingChannel Availability - Channels may not be availablethus these factors puts effect on the selection of channel .
Describe the role that workers play in the game of economics?
Workers produce all of the goods and services that producers provide and customers purchase.
Describe the role that workers play in the game of economics.?
Workers produce all of the goods and services that producers provide and customers purchase.
What is the importance of marketing intermediaries?
Marketing intermediaries play a crucial role in connecting producers to consumers. They help in distributing products and ensuring that they reach the target market efficiently. Intermediaries also provide services such as promotion, market research, and market feedback, thereby aiding in market expansion and customer satisfaction. Overall, marketing intermediaries are vital in bridging the gap between producers and consumers, and in facilitating the smooth flow of goods and services in the marketplace.
What role should consumerism play in our economy?
It should lead to consumer protection against any form of malpractice by providers of goods and services.
Taurus?
Taurus Limited (2021) is an Online Services Digital Distribution platform, first launched on Google Play Store, and officially launched in 08, 2021.
What role does advertising play in the distribution of goods and services?
There are many roles of advertising such as;1. To dispose a person towards buying a product.2. To support a cause.3. To encourage less consumption....like tobacco product.4. To elect a candidate.5. To raise money for charity.6. To publicize union or management position in strike.
What is the role of cost accounting in marketing of businesses?
cost accounting play a vital role in marketing businesses because it give the authentic value of the cost of goods and services.
