Spectrum Economics Challenge 6: Cooperation vs Competition
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My point of view will be in force, will cooperate to compete and thus will grow and benefit the rest, how can this be achieved? As follows. The Thompsons Bakery is the mega bakery, with a large number of customers, due to the quality of its products and excellent prices, there are two small bakeries Yummy Yum Yum and Draxton's Cakes The products that are for sale are available in most of the cases by Thompsons but there is a small percentage that is the signature of these bakeries, this could be a weapon to compete with the giant Thompsons. Here is where Best Buy comes into play, which is a small threat at the moment, but the future may be a great competition for the Thompsons bakery because, like them, I buy a large number of products at the same price, and are able to customize Thanks to its specialized team much more efficiently than other bakeries, the most logical decision for Yummy Yum Yum and Draxton's Cakes would be to cooperate with the best purchase and thus be a strong competition for Thompsons, in this case the specialized team of the best Purchase would help to replicate the unique products of Yummy Yum and Draxton's Cakes in a much more efficient way. This and the ease of getting products in bulk would lower the costs of them. This would attract a greater number of people who would be getting new products at similar prices. in Thompsons, this would benefit the 3 smaller bakeries. This becomes a more equal competition in the market and the Thompsons obligation to improve their equipment, the equalized forces of the competition benefits everyone, both the bakeries as well as the flashy customers getting better at the products and prices, as well as to the consumers who buy are better than good price.
This would be my proposal since the competition for Yummy Yum Yum and Draxton's Cakes in the circumstances that are now would not be viable every day would lose more and more customers so a serious decision to cooperate with either Thompsons or Best Buy but which would be more willing to cooperate would be Best Buy because although it is growing little by little it needs to attract more customers and with the original products of these small bakeries could do it, for Thompsons from my point of view it would be more profitable to buy the most modern machinery of best buy to ally with Yummy Yum Yum and Draxton's Cakes to get the best buy out of the market.
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