Monopolistic Competitive Companies
Size:
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Small Company
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Medium Company
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Large Company
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Features:
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Differentiated products
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Beer Revolution- Local restaurant that specializes in craft beer and pizza
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Sunterra Market- Offers fresh quality meals to downtown Calgary and Edmonton
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IKEA- Global flat pack furniture store.
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Control over price
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Wurst- A German/ Bavarian style restaurant. Supplies a niche product with little competition.
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Saddledome- Control the venue so they control their prices and promotions.
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Ferrari- Exclusive Italian sports car manufacturer.
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Mass advertising
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Ski Cellar Snowboard Shop- 3 locations in Calgary. Advertised by newspaper, online, and billboards.
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American Apparel- Clothing store that advertises on television, billboards, magazines, and online.
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WestJet- Major Canadian airline with advertising through television, radio, internet, and sponsored events.
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Brand name goods
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deVille Luxury Coffee & Pastries- Brand name and high end coffee and pastries in 2 downtown Calgary locations
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Lulu lemon- Popular athletic wear in 40+ Stores in Canada and 38 locations in the US.
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BMW- Established global auto manufacturer.
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A Monopolistic company are large numbers of companies that produce very similar products. The companies can come and go into the industry easily and they have control over the price, advertising, differentiated their products to encourage more products being sold. The companies that come into this type of competition know their products and know how and what makes them sell. Some examples of monopolistic companies are grocery stores, convenience stores, clothing stores, and restaurants.
Differentiation plays a role in the market structure because for a company with lots of competition, like in a monopolistic industry, they are trying to get costumers to buy their products but they need that little something that makes their product more appealing.
