What kind of market is in place?

The first half of the year is over. Here’s what is happening now. Even more of your competition has left the industry. You and a handful of others really determine what happens in the market. Nike has just signed Dwayne Johnson (wasn’t he called “The Rock” when he wrestled professionally?) to a three year contract and is paying him like a Bizzilion dollars to endorse their products. You, Nike and Converse now have a huge impact on the market. Converse has just announced that they have lowered their prices by 5% and they are giving a 100% guarantee on all of their products. If the customer is not completely satisfied they will get a refund and an additional $20 to pay for gas to get you to the store. What are the strengths and weaknesses of this strategy? What kind of market is in place?

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