Description
Assume that you are going to start a small business of your own. Further, imagine that you are able to adequately differentiate your product, or service so that you can establish your business as a monopolistically competitive firm.
- Describe the business and its likely main competitors.
- How would you structure your advertising and customer service to differentiate your product/service?
- How easy would it be for new competitors to enter your market and erode your customer base or selling price?
- What would be your prognosis for the long term profitability of such a business?
- What could you do to protect that long term profit stream?
Add Reference_____________
Explanation & Answer
Attached.
Running head: ROLE OF ADVERTISING
1
Role of Advertising: Shawnricka Group
Name
Institutional Affiliation
ROLE OF ADVERTISING
2
Business Description and Likely Competitors
America is a multicultural country. Although many people claim to be progressives,
every American is proud of what makes America what it is. That which makes America what we
know it for today lies within its rich history. American is now awash with popular culture.
Designers and apparel industries are branding clothes with images and writing of popular
musicians and things that offer nothing more to people than decorations. My friends and I,
having investigated and established that Americans and people across the world appreciate their
history and knowledge, have decided to start a cloth and apparel branding company, Shawnricka
Group to fill this apparent gap. The group will ensure that Americans will no longer have to buy
expensive paintings or wait to get to big cities to see monuments to connect with their history.
Our designers will dig deep into the history of all American ethnic groups to obtain symbols,
people and things that impact...
Review
Review
