Financing and marketing management (1+1)

Unit 10 - Market Structure and Types

10.5. Monopolistic competition
In economics, the market consists of many buyers and sellers who trade over a range of prices rather than a single market price is called monopolistic competition. A range of price occurs because sellers can differentiate their offers or products to buyers. Sellers try to develop difference by using – customer segments, and in addition to price, freely uses branding, advertising, and personal selling to set their offers apart.