Week 6 Reading Reflection

Something that was the most interesting and surprising to me was the section on the Barriers to Entry. I never realized there were so many factors to consider before someone can even put their product into stores. Number 6 was especially interesting to me because if you think about it, you really do have to think about your product placement on the shelves in stores because you want the new product to stand out from the old ones. Price differences, incentives, and intense selling efforts all have to be considered in order to make your product stand out.

Something that confused me about the reading was the section on exit barriers. I would like to know more about the specifics behind exit barriers and how they prevent a company from pulling their product from the shelves.

If I was able to ask two questions to the author, they would be 1) What are some examples of exit barriers and 2) How does the number of substitutes affect how you market your product?

I honestly didn't find anything that I didn't agree with in this reading. Being a Journalism major, I have very little experience in the world of economics. However, I did find this reading to be very easy to understand and it really made sense. I can see now that starting a business and building a strategy takes a lot more planning than I originally thought. The author did a very good job of explaining this process in detail.