Let us imagine you are a consultant who has just been hired by a small business owner as an industry specialist. For this discussion you will identify one specific small business that you own, know the owner well or frequent as a customer.
As the business consultant for this specific business exactly what would you recommend based on all the information you have just learned about monopolistic competition? Specifically include:
product or service type
level of competition that currently exists
strategies for expanding market share
short and long run goals
how to achieve these goals
Feel free to do additional research on this topic and post the URL along with a summary of what you found.