What companies are considered monopolistic competition?

Question

So an example I was given was Kellogg's Raisin Bran as a monopolistic competition. Would Nike be a good example? I figure there are many firms in the athletic shoe industry and there is differentiation in its product, I think.

Answer 1

Vendors at festivals all selling identical soft drinks at the same price. XM Radio and Sirius Radio, both selling basically the same service, at I believe the same price. Coke and Pepsi, along with some minor players, all selling the same dark, sweet, carbonated drink, at basically the same price, except for the regular promotions they run. Garden centers, all selling the same Bradford Pear trees, rhododendron, and blue rug junipers at basically the same prices.

They only compete by offering better service, location, or perceived quality.

I don't see Nike as fitting into this, mostly due to my own buying experiences with shoes. I think that though we have basically athletic shoes, they are all rather different. I can't even wear Nikes or Reeboks, but Adidas, Asahis, and New Balance much better. And even amoung them there are clear differences. Adidas having a higher insole, Asahis just fitting the rest of my foot better, and New Balance having better soles. Just my opinion about these shoes though, and I'm sure other people feel quite differently about the distinct qualities of each. That in itself shows that shoes aren't all that much alike.

Answer 2

Monopolistic Competition Companies

Answer 3

Which Industry Would Be Considered To Be Monopolistically Competitive

Answer 4

This Site Might Help You.

RE:
What companies are considered monopolistic competition?
So an example I was given was Kellogg's Raisin Bran as a monopolistic competition. Would Nike be a good example? I figure there are many firms in the athletic shoe industry and there is differentiation in its product, I think.

Answer 5

For the best answers, search on this site https://shorturl.im/awTWu

Whole Foods is not a good example. A firm that is a monopolistic competitor must satisfy two criteria. First, it must sell a product that is almost identical to all of its competitors, and there should be LOTS of competitors. In this way, the firm almost looks like a perfect competitor. Second, the product must be distinguisable from all of the other products it competes against. Whole Foods does not satisfy the first criterion, since there are not lots of competitors with Whole Foods. A better example, I think is Kellog's Raisin Bran. It has lots of competition in the cereal market, but Kellog's Raisin Bran is somewhat unique -- "Two scoops of raisins in every box!"

Answer 6

Any company that advertises is either a monopoly or engaged in monopolistic competition. Companies that are selling identical product to many other firms would be paying to advertise their competitors products as well as their own. The only exception is that a trade association such as milk producers will run adds promoting milk consumption in general.

Answer 7

Monopolistic competition is when there are many sellers of products that are similar, BUT are perceived (by advertising) to be different. Breakfast cereals-- Post & Kellogs along with others make some kind of cereal thats bran with raisins. Fast food-- McD's , BK, Wendys, White Castle, they're all burgers,BUT they each claim to be different. Shoes-- Nike,adidas,etc. all athletic shoes but each are percieved different.
A true MONOPOLY these days are rare in the US as they control virtually all the market share of a product giving no room for competition. Utilities were the latest to be considered like a monopoly, but they've since de-regulated.Microsoft, Walmart, & IBM are the closest things to monopolies these days, but they really aren't since they have some competition.

Answer 8

Microsoft is the most common example for monopolistic competition.