For the Theory of Contestable Markets to Work,four Conditions Have

question 10

Multiple Choice

For the theory of contestable markets to work,four conditions have to be met: no barriers to market entry,no economies of scale present,consumer willingness to switch between carriers,and

• A) sellers and buyers of such small size that price or supply cannot be influenced.
• B) existing carriers prevented from responding to new entrants' lower prices.
• C) mutual interdependence between various sellers.
• D) no one seller controls a significant portion of the market.

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Definitions:

Perceived Value

The worth or importance a product or service holds in the mind of the consumer, which can influence their decision to purchase.

Marketing Mix

A set of controllable marketing tools—Product, Price, Place, and Promotion—that a company uses to produce a desired response from its target market.

Variety Of Products

A wide range of different items or goods offered by a business to meet various customer needs and preferences.

S.A.V.E. Framework

A marketing model emphasizing Solution, Access, Value, and Education as key components to effectively reach and serve customers.