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In this case, the company has been trying to build and defend its leadership position in the market. It has been using the strategy of product differentiation and development of innovative uses of the product so that it can create a loyal consumer base and encourage them to use the product more frequently. The company had developed this product first and so it has the first-mover advantage in this product. However, due to presence of competition, the market structure was moving towards perfect competition since the product was similar in use and looks. Therefore,...
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