A Short Note On Pricing And Non Pricing Strategies

A. Explain what type of market structure is presented in the movie. Explain the types of strategies Joe Fox and Kathleen Kelly use to compete and maintain market power. Differentiate between pricing and non-pricing strategies (use Chapter 7 in Stengel’s textbook). You can expand and talk about potential strategies in the bookselling business even if they were not explicitly addressed in the movie. All companies need to be competitive in order to survive. Not only do they have to come up with a competitive plan that will attract new customers but also to keep current customers. Just like the movie You’ve Got Mail with Tom Hanks (Joe Fox) and Meg Ryan as Kathleen Kelly. They each have their own bookstore located near each other in New York. There are four market structures and they are described in the table below: MARKET STRUCTURE NUMBER OF FIRMS TYPE OF PRODUCT ENTRY INTO INDUSTRY FIRM S INFLUENCE OVER PRICE EXAMPLES PERFECT COMPETITION MANY IDENTICAL EASY NONE AGRICULTURAL CROPS MONOPOLISTIC COMPETITION MANY DIFFERENTIATED EASY MODERATE MANY LOCAL RETAIL OUTLETS OLIGOPOLY FEW EITHER IDENTICAL OR DIFFERENTIATED DIFFICULT MODERATE TO SUBSTANTIAL AUTOMAKERS MONOPOLY ONE UNIQUE IMPOSSIBLE SUBSTANTIAL LOCAL UTILITY (onlinetutor.com) In the movie clip, Kathleen Kelly , owns a children’s bookstore and she is trying to compete with Joe Fox. Joe Fox, owns a new large superstore bookstore and is Kathleen competition. The movie appearedShow MoreRelatedInterim Spectrum Business Packaging And Pricing Essay1532 Words   |  7 Pagesspectrum business packaging and pricing. [SHORT PAUSE] Before you start please review the Course Tour (the link is located in the upper left corner of the screen). 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