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Case Study Project
Total Marks: 100
Elective- Marketing Management
Question: How probable consequences of a protracted price war care be
avoided? Give examples of two industries making bath soaps. What
consequences you foresee if such price wars are not avoided on time?
Answer : Pricing under monopolistic and oligopolistic competition
Introduction
Pricing decisions tend to be the most important decisions made by any firm in
any kind of market structure. The concept of pricing has already been discussed in
unit . The price is affected by the competitive structure of a market because the
firm is an integral part of the market in which it operates.

2. We have examined the two extreme markets viz. monopoly and perfect competition
in the previous unit. In this unit the focus is on monopolistic competition and
oligopoly, which lie in between the two extremes and are therefore more applicable
to real world situations.
Monopolistic competition normally exists when the market has many sellers
selling differentiated products, for example, retail trade, whereas oligopoly is said to
be a stable form of a market where a few sellers operate in the market and each
firm has a certain amount of share of the market and the firms recognize
their dependence on each other. The features of monopolistic and oligopoly
arediscussed in detail in this unit.
MONOPOLISTIC COMPETITION
Edward Chamberlin, who developed the model of monopolistic
competition, observed that in a market with large number of sellers, the products of
individual firms are not at all homogeneous, for example, soaps used for personal
wash. Each brand has a specific characteristic, be it packaging, fragrance, look
etc.,though the composition remains the same. This is the reason that each brand is
sold Pricing Decisions individually in the
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