Markets

MARKETS PROF.M.GURUPRASAD AICAR BUSINESS SCHOOL

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Very large Very small Unique product without close substitutes One 3.Complete Monopoly Some Some Large Small l Firms produce close substitutes Identical Large Few ,[object Object],[object Object],[object Object],[object Object],None Infinite Identical Large 1. Perfect Competition Degree of control over price Price Elasticity of demand for an individual firm Nature of product Number of firms Kinds of competition

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THE PORTER COMPETITIVE FRAME WORK (FIVE FORCES MODEL) INTRA-MARKET RIVALRY Potential Entrants Suppliers Substitute Markets Customers Threat of new entrants Bargaining power of buyers. Threat of substitute products or service Bargaining power of suppliers

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