Sotheby’s and Christie’s and Cover Gifts
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Please reference both attachments.
Please provide the responses to A, B, C & D in regards to the first attachment in a Word doc only. Please provide a one paragraph response for each.
Please provide the responses to Question 1 in regards to the second attachment in a Word doc only. Please provide a two paragraph response.
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Solution Summary
This solution explains two mini cases. The sources used are also included in the solution.
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a) The elements of competition and cooperation in the industry are as follows. The elements of cooperation are that companies include free gifts on their covers to entice readers. Cooperation is between magazine companies and the companies that give "free gifts". In women's magazines the publishers bear a large portion of the cost and music/computer' video-game magazines, the cost is borne by the manufacturer. The cooperation is between the manufacturers and the magazine. The competition is among magazines. Each magazine offers cover gifts to enhance its appeal, its brand, and to entice customers.
b) The cover gifts war is not a win-win game. It is a prisoner's dilemma. If a magazine does not offer cover gifts and its competitor offers cover-gifts, the magazine loses its customers to its competitor. If the ...
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