TITLE

The Rule of Three

AUTHOR(S)
Sheth, Jagdish N.; Sisodia, Rajendra S.
PUB. DATE
February 2001
SOURCE
Rule of Three - Business Book Summaries;2001, Vol. 1 Issue 1, p1
SOURCE TYPE
Book Summary
DOC. TYPE
Book summary
ABSTRACT
Traditional economic wisdom supposes that most industries fall into one of two categories. According to Sheth and Sisodia, however, & x201c;natural& x201d; competitive market structures evolve by a process that is analogous to the selection processes found in nature, which favor those who are the strongest, the fittest, and the most efficient. In other words, industries evolve into an efficient, complementary structure that is simultaneously both oligopolistic and monopolistic: Three full-line generalists control a major share of the market, while numerous specialists operate in unserved niches. Anchoring the mall structure and getting most of the mall traffic are major department stores, offering a full line of products and services. In the Rule of Three, the &x201c; mall&x201d; is anchored by three full-line generalists, with numerous product and market specialists occupying positions that are largely noncompetitive. This kind of market structure, based on three major players, is very stable and very competitive.
ACCESSION #
16898437

 

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