Consider the following for an example of a somewhat competitive firm: Can you th

Question

Consider the following for an example of a somewhat competitive firm:

Can you think of any products that are not differentiated? In other words, are there any products that you buy where brand does not matter?

Can you think of any industries where there are no (or very low) entry barriers?

Consider the following for an example of a somewhat competitive firm:

Can you think of any products that are not differentiated? In other words, are there any products that you buy where brand does not matter?

Can you think of any industries where there are no (or very low) entry barriers?

Explanation / Answer

Yes there are many product for which brand does not matter.One of them is fish.We can't look at the brand of fish,instead we are very keen to check the quality of the fish.

Toothpaste industry is an perfect example where there is no or very few barriers to entry or exit. In toothpaste industry products are differentiated by altering physical component or try to increase there sell by claiming that there product is supperior by giving advertisment.

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