Finance:Captive market
A captive market is a market where the potential consumers face a severely limited number of competitive suppliers; their only choices are to purchase what is available or to make no purchase at all. The term therefore applies to any market where there is a monopoly or oligopoly.
Examples of captive-market environments include the food markets in cinemas, airports, and sports arenas, college textbooks, US cable companies, the Kosher food market in the United Kingdom , printer refills, truck stops due to fueling contracts and semi truck regulations, and phone calls and food in jails and prisons. Academic publishers, such as Elsevier, operate captive markets.[1]
During the 2020 NBA Bubble, Jimmy Butler sold coffee for $20 a cup; "You can't get coffee anywhere here... People here can afford it," he said.[2] Professional team sports have often been described as an example of captive markets,[3] with strict self-policing rules amongst supporters making it virtually impossible for fans to switch allegiances,[4] and unwritten conduct rules dictating that official club merchandise should normally be worn to games by a majority of fans,[5] allowing the teams themselves to raise prices as high as they feel like, knowing that their supporters have little choice but to keep buying.[citation needed]
See also
- Captive audience
- Right to repair
References
- ↑ "University Times » Protest launched against journal publisher". http://www.utimes.pitt.edu/?p=19679.
- ↑ "Jimmy Butler is charging $20 a cup from his NBA bubble coffee shop" (in en). ESPN. 2020-08-16. https://www.espn.com/nba/story/_/id/29674158/jimmy-butler-charging-20-cup-nba-bubble-coffee-shop.
- ↑ Rick Duniec (January 2011). "Football Governance: Written evidence submitted by Rick Duniec (FG 72)". House of Commons. https://publications.parliament.uk/pa/cm201011/cmselect/cmcumeds/writev/792/fg72.htm. Retrieved 15 November 2014.
- ↑ Rupert Hawksley (26 February 2014). "Why aren't football fans allowed to swap teams?". The Daily Telegraph. https://www.telegraph.co.uk/men/thinking-man/10658105/Why-arent-football-fans-allowed-to-swap-teams.html. Retrieved November 15, 2014.
- ↑ Bill Simmons (February 27, 2002). "Rules for being a true fan". ESPN. http://espn.go.com/espn/page2/story?page=simmons/020227. Retrieved November 15, 2014.
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