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Monopolistic Competition in Dubai

Extracts from this document...

Introduction

Name: - Ritesh Jeswani Course: - BA. In Media and Communications Semester: - Third Semester Topic: - Market Structure - Monopolistic Competition Reg. No: - 0702050 Subject: - Economics (ECN 201) Firm Identification Etisalat, formed in 1976, which was a strong monopoly in the Telecom industry of U.A.E till 2006 till a competitor Du emerged into the local markets. Making Etisalat a firm operating in a Monopolistic Competitive market. Etisalat came into operation on 30 August 1976. The corporation provides telecommunication services to the U.A.E. and is one of the foremost service providers in the Middle East constituency. My Identification of this firm will be based only after 2006 with only a few insights from its history as a monopoly. Behaviour of the Firm as a Monopolistic Competition Etisalat as a monopolistic competition has gone through tremendous change. One of the most noticeable changes was its corporate identity, i.e., the Logo. Etisalat as a firm started to create a more intensive "people approach" marketing strategy by advertising on various mediums. Few of its well-known taglines were "Serving 13 million and many more" & "We thank all our 13 million customers"; something that it did not indulge in for more than 30 years. Its advertising strategy now not only focused Arabs but also included other expat residents of U.A.E. With the entry of a competitor market, Etisalat did not reduce its tariffs and talk time rates but did follow suite in the options and schemes to be provided to their customers. ...read more.

Middle

Emirates Internet Exchange Emirates Internet Exchange - EMIX is the first Network Access Point - NAP, private or public, established in the region built on multiple of STM-1's circuit worldwide. Emirates Internet and Multimedia Recognizing that the Internet would soon become the fastest growing segment in the telecommunications industry, Etisalat launched a dedicated Internet and Multimedia Unit on March 7, 2000. Etisalat Academy Etisalat Academy was founded to help people keep pace with rapidly changing technology in the field of telecommunications. Etisalat College of Engineering Established in 1989, the Etisalat College of Engineering provides a Centre of Excellence for educating a national workforce in Telecommunications and related technology. The Contact Center To meet its objective of customer satisfaction, the Corporation established a state-of-the-art Contact Centre to manage all non face-to-face interactions with its customers in or out of the UAE. UAE Lab Emirates Telecommunications Corporation, Etisalat, the UAE's national provider of telecommunication services, offers a unique service in the region, Telecom Products Type Approval. UAE Network Information Center UAE Network Information Center is the authority that manages domain name registration under .ae TLD (Top Level Domain) as well as IP Address assignment. Etisalat also has two subsidiary companies. This again goes to show the expansion and growth of the company .The companies are E- Marine and E- Vision. Attributes of Monopolistic Competition:- Many Firms * There are many firms competing for the same group of customers. Product examples include books, CDs, movies, computer games, restaurants, piano lessons, cookies, furniture, etc. ...read more.

Conclusion

In this example, the profit maximizing output quantity is 6. Any other level of production generates less profit. Advertising and Branding Firms that sell highly differentiated consumer goods typically spend between 10 and 20 percent of revenue on advertising. Overall, about 2 percent of total revenue, or over $100 billion a year, is spent on advertising. Advertising may make markets less competitive if it manipulates people's tastes rather than being informative. Advertising may give consumers the perception that there is a greater difference between two products than really exists. That makes the demand curve for a product more inelastic, so the firms can then charge greater markups over marginal cost. However, some advertising could make markets more competitive because it sometimes provides useful information to consumers, allowing them to take advantage of price differences more easily. Advertising also facilitates entry because it can be used to inform consumers about a new product. In addition, expensive advertising can be a signal of quality. Brand names may be beneficial because they provide information to consumers about the quality of goods. They also give firms an incentive to maintain high quality, since their reputations are important. But brand names may be criticized because they may simply differentiate products that are not really different, as in the case of drugs that are identical with the brand-name drug selling at a much higher price than the generic drug. The End ...read more.

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