Buy custom Classify The Market For Asian Meals
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| Topic: |
Business
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| Number of pages / Number of words: |
3 / 734 |
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Is this market very competitive in your opinion? What form does the competition take?
The Asian restaurant market is highly competitive. Product differentiation allows the restaurants to compete in product quality, price, marketing and branding. Firms in a monopolist market must advertise their products, due to differentiation...
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The willingness of a firm to spend a large amount of money on advertising may be a signal to consumers about the quality of the product being offered. Marketing increases competition because it allows consumers to be better informed about all of the firms in the market. Many of the firms in the Asian Meals market in the East End take on some form of advertising whether that be, a chalk board of “price†specials outside the premises, advertisement in local paper or a review on restaurant guide website (webmenu...
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General points of the essay
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