In _____________,sellers try to develop differentiated offers for different customer segments and,in addition to price,freely use branding,advertising,and personal selling to set their offers apart.
A) pure competition
B) pure monopoly
C) monopolistic competition
D) oligopolistic competition
E) None of the above.

Question

Quizplus · Accepted Answer

Monopolistic competition is characterized by differentiated offers where sellers use branding, advertising, and personal selling to set their offers apart. In pure competition, all sellers offer the same product and cannot differentiate their offers, while in pure monopoly, there is only one seller in the market. Oligopolistic competition is characterized by a small number of large firms competing in the market. Hence, the best choice for the given question is C.

In _____________,Sellers Try to Develop Differentiated Offers for Different Customer