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Monopolistic competition market is indeed an interesting market structure, but it is also a difficult market to make revenue or for a firm to survive.
Monopolistic competition market is indeed an interesting market structure, but it is also a difficult market to make revenue or for a firm to survive. It seems you cannot just use pricing to compete with your competitors even though you sell differential products (e.g. electronics here) because of substitution factor is still very high. We can also see the questions raised in this thread - they are all valid questions. Anyway, can we come up with some recommendations (marketing strategies based on the economic theories we identified here) on how to generate some revenues selling electronics in a store? What are you thoughts
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