Market Definition
- Product Market (paras 25 ff Notice)
- interchangeability
- price, quality, functionality → possible substitute products (para 26 Notice)
- 3 competitive constrains (para 23 Notice)
- demand substitutability
- supply substitutability
- potential competition
- SSNIP test
- e.g. all soft drinks are in one Product Market
- Geographic Market (paras 38 ff Notice)
- different countries/regions may have different markets
- global to local geographic markets
- Temporal Market (paras 13 ff Notice)
- seasonal work
- fresh fruits
- Christmas decorations
- train/flight tickets during peak times (e.g. Christmas time)
Challenges
- innovation
- products in digital platforms
- price might not be monetary
- ecosystems
Undertaking, not Company
- undertaking → meant is a “company”
- local definitions for “company” → Bulgaria vs Austria have different definitions
- undertaking … an entity which carries out economic activity