Mr. Campbell asked us to watch a speech made by Malcolm Gladwell and to write a response to his thoughts.
I believe that this is true about how companies are competing in other ways other than price. Industries are competing against each other with the same type of product. They just differentiated the product to make it their idea. The company makes many of the same type of product just into different forms. This is what Malcolm talks about in his speech, which he talks about how his friend Howard Moskowitz change the way food companies think about the way they produce their products. Howard made it clear to the food companies that people don't know what they want. This means that the company has to provide multiple forms of the same product to fit the needs of the American people. This is common in Monopolistic Competition because in this market structure companies are competing to gain control of the consumers by making them like their product more them the other companies.
Here is a link to his speech: