market_defintion

market_defintion - Overview: Credit Card Case Market...

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1 Overview: Credit Card Case • Market Definition – Review – Market Participants – Pricing Discussion • Other Issues in Case – Timing and Strategic Interaction –Marke t Power – ... Market Definition : Review • Definition : collection of buyers and sellers that, through actual or potential interactions, determine the price of a product • Point of departure: `If I try to raise (lower) prices, where will current customers go (new customers come from)?' •R
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2 Market Definition Current Customers Potential Customers Current Suppliers Substitutes Potential Entrants Market U.K. Credit Card Industry • Who are the players? • What are the issues?
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3 The Product 'Credit Card'
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4 Direct Substitutes Longer-range Substitutes • Note : Lecture 7 discusses network effects
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5 Increasing the Interest Rate • Note : Lecture 19 discusses adverse selection Important Consumer Characteristics
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6 Charging a Fixed Fee • Note : Lecture 9 and 10 discuss pricing schemes
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market_defintion - Overview: Credit Card Case Market...

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