Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Give responses to other two comments (you agree or disagree/ why?) your response to others has to be more than five sentences based on researched
Give responses to other two comments (you agree or disagree/ why?) your response to others has to be more than five sentences based on researched facts and logical analysis. Q1) What's your ownstrategyto survive and prosper in the oligopoly jungle? An oligopoly market is one that is dominated by a small amount of large industries. Because of this, I think the best way to enter the market would be to come in with low prices. This will attract more people because they will see that we're offering the same product for a cheaper cost. Furthermore, we will gain a following which will enable our profits to stay steady. Lastly, we will slowly be able to raise our prices once we have a sufficient group of people supporting us. Q2) What's your own strategy to survive and prosper in the oligopoly jungle? Surviving and thriving in an oligopoly market can be a formidable challenge, but there are effective strategies that can be employed to navigate this competitive landscape successfully. The approach that I would take would be to differentiate the company from existing rivals by erecting barriers to entry for potential new entrants. This can be achieved through various means, including cultivating brand loyalty, providing exceptional customer service, and developing unique and innovative products or services
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started