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MARKETING POLICY FORMULATION IN MULTIPLE STRATEGIC
MARKETING POLICY FORMULATION IN MULTIPLE STRATEGIC

... 1. Strategy to maximize value added (square II) - based on a good quality product with unique accents and a good brand image and product built on the market. In this situation it will not put too much emphasis on cost reduction and product price will be high; 2. Strategy to minimize client costs (qu ...
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< 1 ... 175 176 177 178 179 180 181 182 183 ... 494 >

Perfect competition

In economic theory, perfect competition (sometimes called pure competition) describes markets such that no participants are large enough to have the market power to set the price of a homogeneous product. Because the conditions for perfect competition are strict, there are few if any perfectly competitive markets. Still, buyers and sellers in some auction-type markets, say for commodities or some financial assets, may approximate the concept. As a Pareto efficient allocation of economic resources, perfect competition serves as a natural benchmark against which to contrast other market structures.
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