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Market Model - Coggle Diagram
Market Model
Oligopoly
Few Firms
Standardized or Differentiated
There are significant obstacles at entry
Nonprice Competition is a great deal particularly with product differentiation
Limited Control over price by mutual interdependence
Pure Monopoly
One firm
Unique with no close substitutes
Considerable control over price
Blocked Conditions of Entry
Mostly public relations advertising
Monopolistic Competition
Many Firms
Differentiated
Some control over price with narrow limits
Relatively Easy Entry
Considerable nonprice competition with emphasis on advertising, brand manes and trademarks
Pure Competition
A very large number of firms
Standardized product
No control over price
Very easy entry with no obstacles
No nonprice competition