There are many market structures in the market, namely monopoly, perfect competition, monopolistic competition as well as oligopoly. The market structure we choose for our businesses is monopolistic competition. In this market structure, there are many competitors compete with each other to increase the sales so that they can earn profits. The product we choose to conduct our assignment is Pringles, one of the kinds of tidbits in the market. Pringles are a type of potato chips which are very thin, very crispy and have a sort of wavy shape. Pringles come in a variety of flavours such as Original, Cheese, BBQ, Hot and Spicy, Sour Cream and Onion. Pringles are packaged in tubular, air-tight, cardboard cans with plastic lids. Then, Pringles come out with a logo for their potato chips. So, “Julius Pringles” was born. “Julius Pringles” represented a man’s head with bushy black moustache, eyes, eyebrows, and parted black hair and a bow tie below the man’s head. The purpose we are choosing Pringles to conduct our assignment is that there are many similar products in the market and Pringles is doing very well despite the large number of sellers in the market for the similar product. Pringles is made by the food giant Procter and Gamble and are sold in 140 countries, their sales every year is nearly one billion dollars. Undoubtedly, Pringles are a favourite snack of many people.
Next, we conduct our research on Pringles by doing survey of different business outlets in Sri Petaling area. We compare the prices of the original flavour of Pringles at different shops such as Mydin, Guardian, KK Mart, Family Store and 7-Eleven. We found out that there are different prices selling between the business outlets although they are selling the same product, Pringles. We also conduct our research by searching the information through valid internet websites. We had read through the history of Pringles, the characteristics of Pringles from the web pages so that we can be