Which of the following observations is NOT TRUE of monopolistic competition?
A) A number of different firms offer marketing mixes that at least some customers see as different.
B) Marketing managers try to differentiate very similar products by relying on other elements of the marketing mix.
C) Each competitor tries to get a monopoly in its own target market.
D) Most marketing managers in developed economies do not face monopolistic competition.
E) Competition exists because some customers see various alternatives as substitutes.

Question

Quizplus · Accepted Answer

Most marketing managers in developed economies actually do face monopolistic competition. This is because there are many industries where numerous firms compete by differentiating their products or services in some way, making monopolistic competition very common in these economies.

Which of the Following Observations Is NOT TRUE of Monopolistic