Question
Monopolistic competition happens when various organizations provide commodities similar but not identical. A good example is the chocolate industry which provides similar but not identical
Monopolistic competition happens when various organizations provide commodities similar but not identical. A good example is the chocolate industry which provides similar but not identical products. One day I had spent some fifteen minutes in a supermarket looking for chocolate to gift my little brother back at home. After scrutiny, I found the KitKat chocolate brand and Cadbury chocolate brand that were neck to neck when catching the customer's attention. The KitKat chocolate was placed on the top shelf seamlessly at eye contact with the Cadbury chocolate, placed on the shelf below KitKat.
KitKat chocolate appears to target more cost-conscious clients than Cadbury chocolate. Whereas Cadbury chocolate is placed on the lower shelves, KitKat chocolate is placed strategically that catches the consumers' eyesight. Even though the two products are related and similar, they are not identical and have different prices. KitKat chocolate is a bit more costly than Cadbury chocolate.
I straightforwardly affirm that KitKat chocolate is intended for higher-end clients regarding high-end chocolate products. Its price was almost twice that of the lowest retailed chocolate in the store. Its products were placed in visible positions and colorful packaging, which easily draws the consumer's attention. However, the two products tend to have a command of brand loyalty as per their numerous mouth-watering advertisements. Regardless, KitKat chocolate has a high market demand despite being newer than Cadbury chocolate. As a result, many clients tend to consider it first before looking for alternatives (other chocolate companies). Therefore, the brand is costly with high quality guaranteeing satisfaction.
Would you agree or disagree with my input and why? I am looking for feedback for my paper is all. Thank you
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