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Chapter 8 competition in concentrated marketing
Reflection: industries containing firms with substantial market share are call concentrated industries because market share is concentrated in the hands of a few firms. In the spectrum of competition defined in chapter 6, these industries occupies the space between niche and monopoly market. What is important from a managerial perspective is how the major player in these industries can affect industry outcomes. A manager at a leading firm in a concentrated industry know that her decisions about price or product characteristics will affect all the players in the industry. If one leading firm competes aggressively, competitions will intensify for all the firms in the industry. As a result, a manager of a major firm in a concentrated industry must recognize that its competitors will response to any strategic choices she make, just as she will have to respond to the decisions they make because these decisions will affect her firm’s performance.