Business law

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Business law

  1. 1. Marketing competition<br />Khaldoun Omar<br />
  2. 2. Content<br /><ul><li>Introduction
  3. 3. Marketing competition
  4. 4. Three levels of competition
  5. 5. Perfect Competition
  6. 6. Structures Of Perfect Competition
  7. 7. Imperfect Competition
  8. 8. Pro’s and Con’s Of Perfect Market
  9. 9. Summary</li></li></ul><li>Competition<br /><ul><li>Is a term that encompasses the notion of individuals and firms striving for a greater share of a market to sell or buy goods and services
  10. 10. Causing commercial firms to develop, new products, services and technologies, giving the consumer a greater selection and better products</li></li></ul><li>Marketing Competition<br /><ul><li>Competition is seen as a state which produces gains for the whole economy, through promoting consumers sovereignty. It may also lead to wasted (duplicated) effort and to increased costs (and prices) in some circumstances</li></li></ul><li>Three Levels of Competition<br /><ul><li> Brand competition: products performing same function competing against each other
  11. 11. Substitute competition: products that are simillar to each other, ex; margarine, mayonnaise, ..etc
  12. 12. Budget competition: anything that the consumer might want to spend their available money, all products competing for the consumer’s money </li></li></ul><li> Perfect Competition<br /><ul><li>Describes markets such that no participants are large enough to have the market power to set the price of a product
  13. 13. A perfect market exists only when every participant is a “price taker”, and no participant influences the price nor the product. </li></li></ul><li>Structures Of Perfect Competition<br /><ul><li> Infinite buyers and sellers
  14. 14. Perfect information
  15. 15. Zero transaction costs
  16. 16. Profit maximazation</li></li></ul><li> Imperfect Competition<br /><ul><li> A competitive situation in any market that did not satisfy the conditions of a Perfect Market
  17. 17. Monopoly
  18. 18. Oligopoly
  19. 19. Monopsony
  20. 20. (etc…)</li></li></ul><li> Pro’s and Con’s Of Perfect Competition<br /><ul><li> Advantages:
  21. 21. Competition encourages efficiency
  22. 22. Consumers charged a lower price
  23. 23. Change in demand , lead in extra supply
  24. 24. Disadvantages:
  25. 25. Insufficient profits for investment
  26. 26. Lack of product variety
  27. 27. Unequal distribution of goods and income</li></li></ul><li> Summary<br /><ul><li> A market is any one of a variety of systems, institutions, procedures, social relations and infrastructures whereby parties engage in exchange. While parties may exchange goods and services by barter, most markets rely on buyers offer their goods or services (including labor) in exchange for money</li>

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