Product Suite

Supply Chain Glossary - I

Supply Chain Glossary - I

industry analysis

A major study of an industry; its major competitors, customers, and suppliers; and the focus and driving forces within that industry.

Economists have developed models of the types of competition faced by various firms. These types are (1) Pure monopoly-Only one firm provides a particular product or service. The monopoly may be regulated or unregulated; (2) Pure oligopoly-A few companies produce essentially the same product or service and market it within a given area. A company is forced to price its product at the going rate unless it can differentiate its product; (3) Differentiated oligopoly-A few companies produce partially differentiated products or services that are marketed within a given area. Differentiation may be based on quality, features, styling, or services offered along with the product; (4) Monopolistic competition-Many competitors offer partially differentiated products or services. Most competitors focus on market segments where they can meet customers' needs somewhat better than their competitors; and (5) Pure competition-Many competitors offer undifferentiated products or services.

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