In which ways captive market differ from non captive market? discuss with example.

Captive market and Non-Captive market

Captive market and Non-Captive market

by Sarzia huq -
Number of replies: 0

Captive market: a captive market is one where consumers have very limited choice. In this type of market, the seller has the upper hand. Because There is no competitors.

For an example –

A pharmacy on a cruise ship, passengers still need to purchase painkiller, toothpaste and others items. they have no others choice to get that. Also when you are inside a sports stadium, airports, movie theater if you want to eat food and drink you have to purchase there product. Bookshop of Daffodil international university.

Non captive market: The customer has open choice of eating opportunities both in terms of the food & drink to be consumed and the type of operation they may wish to go to.

As customers have varying preferences, your business must also be able to empathize with your clients and adjust to their needs. Thus, it is important to provide them with the best experience they can have, considering costs, time, food preferences, ambience desires, and distance for convenience.

Example : shopping malls has verity option to purchase anything. Road side street shops , expensive restaurants, Hotels.