Answer :
Final answer:
The macro strategy demonstrated by Starbucks having more retail outlets compared to Dunkin' Donuts is called market saturation; this is a form of monopolistic competition aimed to increase market share and discourage competitors.
Explanation:
The difference between Starbucks' extensive number of retail outlets compared to Dunkin' Donuts reflects a macro strategy known as market saturation. Market saturation involves establishing a strong presence in a particular market by opening a large number of stores in order to become the dominant player and limit competitors' growth. This strategy can lead to increased brand visibility and convenience for customers, thereby encouraging loyalty and repeat business.
Starbucks, by having a store on seemingly every corner, employs this strategy to outcompete rivals such as Dunkin' Donuts. The concept of market saturation falls under the broader framework of monopolistic competition where firms strive to maximize their market share by differentiating themselves through various means like location convenience, product offerings, customer service, and branding.
Understanding the impact of market saturation and monopolistic competition can influence consumer choices, as these strategies contribute to the uniformity and predictability of customer experiences, as highlighted by the McDonaldization of society. However, despite these large chains' prevalence, small Mom and Pop firms occasionally persist by catering to niche markets or offering personalized services that larger companies cannot match.
The type of macro strategy for Starbucks represented by the difference between these two companies is locational excellence.
Macroeconomics studies the economy as a whole. This economics study specifically learns about the economy on a large scale and comprehensively. Macroeconomics is often used as an instrument to analyze and design a series of policy targets related to inflation, employment, economic growth, and a sustainable balance of payments balance.
This economic study can also be used to analyze producers as a whole. Consumers are also not left behind; Macroeconomics analyzes them in the context of how to allocate income to buy goods and use services.
There are several types of macroeconomic objectives, and they affect the economy of a country. Each of these goals is aimed at solving problems that arise in a country.
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