Number of Producers
Similarity of Products
Ease of Entry
Control Over Price
There are many producers such as large companies (Liz Claiborne, Fruit of the Loom, and Polo Ralph Lauren), and small and private brands.
A large chunk of producers are small companies, but individually, the large companies bring in a lot of money.
There are few barriers to entry, but many times small businesses fail quickly.
The producers have some control over prices due to new conditions, technology, etc. In 1997, prices were reduced due to a drop in labor prices.
Products differentiate. For example, some clothing stores sell shirts and pants, some sell shoes, some sell dresses, etc. Also, the design of the product changes between brands. While one brand may sell plain blue shirts, another brand may sell red striped shirts.
McKenna Howell & Destan Stewart