Sotheby's Competitive Analysis
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This paper provides a competitive analysis of Sotheby's auction house, determining its competitive set in which only Christie's is a competitor. Additionally, the paper determines the competitive nexus, establishing the necessary conditions, and identifying the sufficient conditions.
From the Paper:"The competitive set for Sotheby's needs to consist of other firms engaged in the same business as Sotheby's and at approximately the same level, namely its chief competitors in its industry. Sotheby's is a world-renowned auction house so local auction houses-or even most of the best houses-do not belong in its competitive set. The right firms to include in the competitive set are those that a customer desiring to use Sotheby's might seriously consider in its stead. The competitive set for..."
Cite this Analytical Essay:
Sotheby's Competitive Analysis (2008, December 01) Retrieved June 25, 2019, from https://www.academon.com/analytical-essay/sotheby-competitive-analysis-122367/
"Sotheby's Competitive Analysis" 01 December 2008. Web. 25 June. 2019. <https://www.academon.com/analytical-essay/sotheby-competitive-analysis-122367/>