![]() ![]() ![]() Many makers of printing machines have a captive market for toner sales. “A group of consumers who are obliged through lack of choice to buy a particular product, thus giving the supplier a monopoly.” We call a market with just one seller a monopoly.Īccording to Collins English Dictionary, a captive market is: In Mexico, for example, you can only fill your car with gas (UK: petrol) from a PEMEX filling station. In some countries, where there is just one supplier of a product or service, there is a captive market. As they have a captive market, they can charge what they like. However, while the passengers are on board and movie viewers are at the theater, they are are ‘captive.’ Food and drink at the cinema are ridiculously expensive. To be fair, sellers at movie theaters and cruise ships have to compete with sellers in other movie theaters and ships. They do not let you consume things that you bought outside. Sports stadiums and airports also have this regulation. If you want to eat and drink at the movies, you have to buy their products. ![]() If there is only one shop on the liner, consumers have no choice but to get all their supplies from there. However, passengers still need to buy painkillers, toothpaste, diapers (UK: nappies) for their babies, and other basic items. It is a captive market.įor example, a shop on a cruise ship has no competition. Captive market on cruise ships Passengers can’t buy painkillers and other essential items anywhere else. The seller can raise prices without worrying about competitors grabbing its customers. In this type of market, the seller has the upper hand. In other words, unless they buy from just one or two suppliers their only other option is not to buy. A captive market is one where the potential buyers have very limited choice. ![]()
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |