ENTREPRENEURIAL MARKETING
MARKETING MIX
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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A business that operates in a market with little or no competition is most likely to have a:
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High promotional spend and charge a high price
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High promotional spend and charge a low price
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Low promotional spend and charge a high price
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Low promotional spend and charge a low price
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Explanation:
Detailed explanation-1: -Oligopoly markets are markets dominated by a small number of suppliers. They can be found in all countries and across a broad range of sectors.
Detailed explanation-2: -What Are the Differences Between Monopolistic Markets and Perfect Competition? In a monopolistic market, there is only one seller or producer of a good. Because there is no competition, this seller can charge any price they want (subject to buyers’ demand) and establish barriers to entry to keep new companies out.
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