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What views and opposition could be viewed with this statement? Surviving a monopolistic competitive market requires many different strategies and actions. Offering deals and discounts,
What views and opposition could be viewed with this statement? Surviving a monopolistic competitive market requires many different strategies and actions. Offering deals and discounts, aggressive marketing, competitive rates, etc. are some of the strategies that organizations implement to increase the response to their product from consumers in a monopolistic market. To provide competitive rates and discounts, deals, offers and sales, an organization should not have a loss in their revenue. To prevent losses, the production cost of the product should be low. Organizations implement various strategies like buying raw materials and even pre-manufactured parts from foreign markets at a much lower cost, using already available cheap/free supporting components to create the product (especially in software-based products) etc. All these actions and strategies helps the companies/organizations to take a stand in a monopolistic competitive markets
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