Competitive Markets and Barriers to Entry - Understanding Market Dynamics

The video explores competitive markets, focusing on barriers to entry and market structures. It discusses how these factors influence market dynamics, using examples from the airline and smartphone industries. A case study of Marks & Spencer illustrates changes in competitive landscapes over time.

What impact do technological advancements have on market competition?

What factors contribute to the increase in competition in markets?

In what ways can incumbents maintain their market position despite competition?

How has the competitive landscape changed for Marks & Spencer over time?