Chapter 13: Monopolistic Competition: The Competitive Model in a More Realistic Setting Flashcards
1
Q
monopolistic competition
A
a market structure in which barriers to entry are low and many firms compete by selling similar, but not identical products
2
Q
marketing
A
all the activities necessary for a firm to sell a product to a consumer
3
Q
brand management
A
the actions of a firm intended to maintain the differentiation of a product over time
