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many different companies compete for your attention by having/producing similar products

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Advantage one- the consumers have the same information as the business
example- calories or nutrition facts on menus

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different water brands use different packaging to win over customers

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companies also use famous people in their ads to persuade others to buy their products

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disadvantage one- lack of standardized goods
example- starbucks known for their coffee can/has ran out of coffee and coffee cups

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advantage three- a high variety of similar products
example- starbucks,dunkin and caribou menus

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disadvantage two- excess of capacity
example- long lines could lose consumers or business having to turn people down

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different coffee brand compete for your sale by selling similar varieties of drinks

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starbucks will come out with secret menu items and seasonal drinks to keep customers active with their company

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you can start your own business at anytime in the monopolistic field

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advantage two- always active environment
example- price changes, new products, specials

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disadvantage three- inefficient distribution of resources
example- deciding on who to give resources to, such as if a drought happened

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companies use ads/phrases like "vegan" or "fresh" to win you over