search query: @indexterm CORPORATE STRATEGY / total: 2034
reference: 113 / 2034
| Author: | Geroski, P. A. |
| Title: | Thinking creatively about markets |
| Journal: | International Journal of Industrial Organization
1998 : NOV, VOL. 16:6, p. 677-695 |
| Index terms: | Markets Strategy Corporate strategy |
| Freeterms: | Market boundaries |
| Language: | eng |
| Abstract: | The paper takes a view of how economists identify market boundaries. Three types of definition are distinguished: trading markets, anti-trust markets and strategic markets. The first is based on the familiar law of one price, while the second follows US DIJ guidelines and is designed to identify positions of market power. Neither of these definitions suits the needs of one of the more recent and fastest growing users of economics, namely those responsible for corporate strategy decisions inside firms. The paper reviews why market definitions are a fundamental part of strategy decisions, and identifies several ways that such users might define market boundaries. |
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