CENTRE FOR FOUNDATION STUDIES

(KAMPAR CAMPUS)
FHBM1024
MICROECONOMICS AND MACROECONOMICS
TRIMESTER 202401

Tutor: Ms Devagi a/p Erusan

Tutorial
No UTAR ID Name
Group
1 2305262 Chew Wei Jiun
2 2302980 Chan Win Ying
3 2303796 Lee Hui Ying
T1
4 2302949 Moo Jing Xuan
5 2303180 Ong Huai Zhou
6 2304224 Sim Cheing Yi

Submission Date: 27.03.2024 (Week 9 - Wednesday by 2pm)

Total Marks [Assignment Report] /100 marks
Total Marks [Presentation] /50 marks
 CONTENT PAGE

No Descriptions Pages
Cover Page -
Content Page -
Q1 Case Study
1.1 Explain the company’s background 1
Explain the company’s chosen goods or services
1.2 Explain the types of barriers to entry faced by the chosen monopoly 2-3
firm above.
1.3 With a relevant diagram, explain the economic profit possibilities 4
(refer to the latest annual report) for the chosen monopoly firm above.
1.4 Examine the use of price discrimination for the chosen monopoly 5
firm above.
Q2 Structured Questions
2.1 Explain the company’s background 6-7
Explain the company’s chosen goods or services
2.2 Explain by applying the characteristics to prove that the particular 8
firm falls under the monopolistic competition market structure.
2.3 Explain why perfect competition market structure is not found in real 9
markets
2.4 If the firm becomes an oligopoly, identify 3 benefits generated by the 10-11
oligopoly that would be difficult to gain from a monopolistic
competition market structure.
2.5 Compare the price and other relevant information of the good or 12-13
service with its two close substitutions within the same place. Present
your findings in table form.
State 3 reasons why the firm can sell at a higher price or same price
or lower price compared to its competitors.
2.6 From the viewpoint of the customer, discuss 3 advantages and 3 14-15
disadvantages of buying the good or service under the monopolistic
competition market structure.
References -
Appendices -
Peer Evaluation Form -
Group Written Assignment Marking Rubrics -
Group Presentation PowerPoint Slides -
Group Written Presentation Marking Rubrics -
1.1 Explain company’s background

Tenaga Nasional Berhad (TNB), also known as Tenaga Nasional or Tenaga, is the
largest electricity utility company in Malaysia with an international presence in the
United Kingdom, Kuwait, Turkiye, Saudi Arabia, and India. It is not only the sole
electric utility provider in Peninsular Malaysia but also the largest publicly listed
power in Southeast Asia. TNB serves millions of customers throughout Peninsular
Malaysia and also Sabah through Sabah Electricity Sdn Bhd, except for Sarawak.
Moreover, TNB is one of the ten firms that make up the Malaysian sovereign wealth
fund Khazanah Nasional, as well as one of the 13 Malaysian companies that made the
Forbes Global 2000 list in 2018.

TNB’s Chosen Goods or Services

The main business of TNB is energy generation, transmission, and distribution which
is led by TNB Power Generation Sdn Bhd, also known as TNB Genco. In addition to
repairing, testing, and maintaining power plants, Tenaga Nasional Berhad engages in
various activities such as providing engineering, procurement, and construction
services for power plant-related products, assembling and manufacturing high-voltage
switchgear. In recent years, TNB has increased its focus on renewable energy projects
as part of Malaysia’s commitment to sustainable development. This includes
investments in solar, wind, and hydroelectric power generation.

Besides, TNB also offers higher education through its university, Universiti Tenaga
Nasional (UNITEN), established in 1997. UNITEN benefits from its strong
connection with TNB, allowing the university to provide academic programs, research
services, engineering/technology skills training, and consultancy services. These
offerings are specifically designed to address the continually changing requirements
of the power and energy sectors.

1
1.2 Explain types of barriers to entry faced by TNB

The first barrier to entry is the legal barrier which only allows the monopoly to
provide services to the entire nation. Therefore, the government undertakes rules and
regulations to restrict competition in the power industry in the form of licensing,
patents, and copyrights. A copyright protection may apply to TNB’s creative works,
such as software, manuals, technical documentation, and marketing materials. This
protection can prevent competitors from copying or reproducing TNB’s intellectual
property directly. For example, Tenaga Nasional Berhad has its own logo which
cannot easily be copied. Moreover, TNB’s patents for proprietary technologies in
power generation, transmission, distribution, or energy efficiency can act as barriers
to entry by prohibiting competitors from utilizing or duplicating these technologies
without authorization. As a result, legal barriers become a high barrier to entry as
competitors may encounter difficulties in creating similar technologies or introducing
competing products or services due to TNB’s patent protection.

Besides that, licensing and permitting regulations may pose barriers to entry for
new competitors aiming to penetrate the market. Many countries, including Malaysia
where TNB operates, mandate that the establishment and operation of power
generation, transmission, and distribution facilities necessitate obtaining various
licenses and permits from regulatory bodies. These licenses are crucial for ensuring
adherence to safety, environmental, and operational standards. Since the Malaysian
government strictly regulates the power and energy sector. only TNB has held the sole
license for electricity transmission and distribution in Peninsular Malaysia, and Sabah.

The second barrier to entry is the economies of scale. Economies of scale are
defined as the cost advantages that a company experiences when it increases its scale
of production or operations. Established in 1949 as the Central Electricity Board,
TNB has served as Malaysia's primary electric utility company, playing a pivotal role
in the development and expansion of the country's power infrastructure. TNB may
benefit from economies of scale, meaning they can produce electricity at lower
average costs due to their large-scale operations. Therefore, TNB holds a pioneering
position in the Malaysian power market, which means that new entrants may struggle
to compete on cost efficiency initially. Other than that, due to bulk input, Tenaga
Nasional Berhad operates conventional steam turbine and steam generators fueled by

2
coal, oil, or natural gas, as well as gas-fired or diesel-fired open-cycle gas turbine
generators and combined cycle turbine generators. While TNB has covered the cost of
acquiring these machines, new entrants have not, resulting in higher costs for them
compared to TNB.

Last but not least, the barrier to entry is the control of important input. A
monopoly can exist because the firm can control most of certain resources, so others
cannot get them easily. TNB's dominance over the electricity transmission and
distribution network creates a formidable entry barrier for new competitors in
Malaysia's electricity market. This control over a critical input, the electricity grid, is
essential for any company that aspires to sell electricity to consumers. Without access
to the grid, new players are effectively shut out of the market. Furthermore, Tenaga
Nasional Berhad (TNB) can maintain its market dominance by controlling key inputs
such as fuel sources, raw materials, or specialized equipment, thus hindering potential
competitors from entering the market and challenging its position.

3
 1.3 With a relevant diagram, explain the economic profit possibilities (refer to

the latest annual report) for the chosen monopoly firm above.

Economic Profit
Price

MC

TR = RM50867.7 million
Profit = RM3557.4 million
TC = RM47310.3 million
C
Price / A ATC
D
ATC / B

MC
MR D=P=AR

Quantity
0 Q

Based on the diagram above, during 2022 TNB generated a total profit of RM3557.4
million (referred to latest annual report 2022) and the area ABCD shows the total
profit of TNB. TNB has earned a total profit of RM3864.7 during 2021 which shows
that TNB has earned RM307.3 less compared to the year before. Although TNB has
earned more revenue during 2022 than year 2021, RM48119.9 during 2021 and
RM50867.7 during 2022 but referring to the TNB consolidated statement of profit or
loss, the company has higher finance cost in 2022 than 2021, which is RM4343.4
during 2022 and RM3793.3 during 2021. This might be due to higher tax expenses
like Cukai Makmur FY22 which amounted to RM340.8. Additionally, according to
the diagram, the Average Total Costs (ATC) is lower than the price proves that the
company is in an economic profitable condition. In conclusion, although TNB earned
less profit in 2022 compared to 2021, TNB will still remain in a profitable condition
as they are the only electricity provider in Malaysia. Thus, the consumers are not price
sensitive with monopoly firms and they will stay pay even for higher prices.

4
1.4 Explain the use of price discrimination for the chosen monopoly from above
Price discrimination is a strategy used by monopoly firms to charge different
consumers with different prices for the same good or same service they provide.

Monopoly Power

The first condition that TNB must fulfill in order to engage in price discrimination is
monopoly power. Every household, outlets and even power plants in Malaysia needs
electricity supply and TNB is the one and only utility that supplies electricity in
Malaysia since the year 1949. Besides, if there is other company supplying electricity
in the market, consumers who chose the other company rather than TNB will cause
the problem of mixed cable connecting to households and raising number of station
towers in Malaysia.

Market Segregation

According to TNB’s official website, only for industrial consumers, there are 6
different categories of customers, which are domestic, commercial, industrial, mining,
street lighting, and specific agriculture. TNB charges different categories of customers
differently. For example, for the first 200kWh used per month by low voltage
industrial tariff category is charged 38.00 sen/kWh while for low voltage mining tariff
category is charged 38.10 sen/kWh. This is because price discrimination requires the
ability to separate customers according to their willingness to pay as all the monopoly
firms want higher profit. If the more consumers use, the more the firm will charge.

No Resale

Price discrimination can only work if there is no reselling of any product sold. TNB
offers different categories of customers with different amounts of discounts, for
example Welfare organizations are eligible to a 10% discount on their monthly bills
and customers in the mining tariff category are entitled to a 25% discount on their
monthly bills, TNB must make sure that customers will have difficulty in reselling the
product to prevent reselling of discounted products to customers being charged more.
TNB has installed metering systems in every household that help monitor and detect
any abnormal electricity usage that may indicate unauthorized reselling. Besides,
there will be heavy penalties example for meter installation tampering will be fined
not exceeding RM1 million or imprisonment not exceeding 10 years or both.

5
2.1 Nivea’s company Background

Nivea is a German brand that created by a German multinational company that called
Beiersdorf AG. Beiersdorf AG is a company that founded in 1882 years ago. It has
been established over 141 years. The brand of Beiersdorf AG’s, which is Nivea,
Eucerin, Hansaplast, La Prairie and Chantecaille. In 1882, Beiersdorf AG has created
by the pharmacist Paul C. Beiersdorf. He used his knowledge and ability to establish a
laboratory to provide services to doctors. Together with dermatologist Professor Paul
Gerson Unna, he developed a manufacturing process for medical plasters, for which
he registered his first patent. March 28, 1882, is the date of the patent specification
and is considered the company's founding date.

In 1890, pharmacist Dr. Oscar Troplowitz purchased the laboratory of Paul C.

Beiersdorf. In 1892, Troplovitz purchased a piece of real estate and moved Beiersdorf
to Hamburg-Emsbüttel as the new company headquarters. This allowed the company
to move towards mechanical systems and expand its product range. He built a new
factory in Hamburg Ansbitt to produce plasters and medicines under the Labello and
NIVEA brands. He has an international mindset and is customer and market-oriented
to expand the market. Additionally, he is committed to further developing products
based on sound science. Therefore, he continued his collaboration with Professors
Paul C. Beiersdorf and Paul Gerson Unna, and hired Dr. Isaac Lifschütz, the chemist
who invented Eucerit.

6
Explain the Nivea’s chosen goods or services
The product chosen by Nivea is Nivea Cream. Nivea Cream is the first stable water-
in-oil emulsion. The emulsifier Eucerit is made from lanolin, which is found in wool
and is key to the unique properties of NIVEA Crème. Suitable for all skin types
including oily skin, dry skin, normal skin, combination skin and sensitive skin. Nivea
crème have rich of Provitamin B5 can deeply moisturizes nourishes and protects skin
from a rough, dry feeling. This moisturizer for face, hands and body deeply hydrates
and soothes skin with every use.

In 1890, Dr. Oscar Troplowitz purchased the laboratory of Paul C. Beiersdorf.

Troplowitz's scientific advisor, renowned dermatologist Professor Paul Gerson Unna,
introduced him to an innovative emulsifier called Eucerit. This sets the stage for
Nivea Cream. In addition to Eucerit, the original cream also contains glycerin and a
small amount of citric acid. Also scented with rose and lily of the valley oils.
Although Nivea Cream's formula is often refined to suit the latest scientific
discoveries, at its core it has remained virtually unchanged over the past 100 years.

7
2.2 Explain by applying the characteristics to prove that the particular firm falls
under the monopolistic competition market structure.
Nivea is a firm that falls under the monopolistic competition market. There are
various characteristics which shows that Nivea falls under monopolistic competition
market.
One of the characteristics that shows Nivea falls under monopolistic competition is
Nivea has many sellers selling its company product. Nivea product can easily be
found in supermarket, minimarket, and pharmacy in the whole Malaysia. For
example, there are Nivea products selling in 99speedmart. Other than that, there are
also other sellers in the market. For example, Vaseline, Dove, L’Oréal and Olay.
These sellers are also selling products similar to Nivea on the market.

Besides that, Nivea acts as a price maker for its company goods in the market.
This shows that Nivea falls under monopolistic competition market. Nivea are free to
raise or lower the prices of its goods to increase or maintain its profit margins.
However, there are a lot of sellers in the market, if Nivea raises the price of the
product, the consumers may switch to buy similar goods from other companies.

Moreover, Nivea has used the feature of monopolistic competition which is

product differentiation. Nivea brands represents high quality beauty care products
compared to other brands, to attract more consumers. Besides that, Nivea is a long-
established brand compared to other brands, and it gives its consumers’ confidence in
the safety and effectiveness of its product.

Other than that, Nivea is also able to enter and exit the market easily because it
falls under monopolistic competition market. Nivea can enter easily because it has
low capital requirements and exit the market easily if its company experience loss.
Shortage will not occur when Nivea exits the market as there are still a lot of suppliers
in the market.

Apart from that, every company falls under monopolistic competition market
needed advertisement to promote its product, and Nivea is also one of the
companies. Nivea have used various promotional methods such as TV advertisement,
online advertisement and radio advertisement. For example, Nivea’s advertisement
can be easily seen on TV. Nivea needed advertisement to promote its product because

8
fierce competition occurs as there are a lot of sellers in the market. Nivea needs to
increase its reputation so that Nivea can increase the size of its customer group.

2.3 Explain why perfect competition market structure is not found in real
markets.

Perfect competition market structure is not found in real markets it is because

perfect competition is an idealized market structure that is impossible to happen in
real markets.
Firstly, perfect competition market structure is not found in real market as the
reason is the impossible of homogeneous product. Homogeneous product is means
one product has the same quality and uses as another product. It will make the
difficult of buyers chosen the uses product between the same price and additional
functions. Therefore, buyers cannot distinguish the produce when chosen these
products. However, it is not easy to be achieve in the real market. As a result of the
different quality and branding. Most of the company have their own design, impact,
and advertising. It makes the difficult to replace or substitute as their differences.
Forasmuch, it is difficult to establish perfect competition in the real market.
Secondly, perfect competition market structure is not found in real market as the
reason of cannot be freedom to enter or exit the market. In perfect competition
market, company or firm can be easy to enter or exit the market because of the start-
up and production costs are low. For example, if Nivea suffers a loss, they can easily
to quit out the market and others company can take their place to meet supply
requirements. However, in the real market, it has a high cost when entering the market
or some restriction such as, legal restriction and technological problem. It's made the
difficult to freedom entry or exit the business in real market.
Thirdly, perfect competition market structure is not found in real market because
of the difficult having large number of seller and buyers. In real market, it has
many of difference product and brand according to difference requirement. This
results in not all products having a larger number of products. But in perfect
competition market, there have larger numbers of buyers and sellers in the market. Its
means buyers and sellers have maintained the demand and supply chain constancy.
So, it would not affect to the price in the market. For example, vegetables, eggs, gold,
and rice are included into perfect competition market because of the larger demand.
However, to achieve the perfect competition market in real market, it means a product

9
must have larger demand by the sellers and buyers. It is difficult to achieve because
not all products are accepted by the customers.
2.4 If NIVEA becomes an oligopoly, 3 benefits generated by the oligopoly that
would be difficult to gain from a monopolistic competition market structure.

An oligopoly is a market structure in economics that occurs when a small number

of powerful sellers (oligopolists) control a given industry, it provides numerous pros
for business operation and development. If Nivea become an oligopoly, there are a lot
of benefits as a oligopoly firm.

Firstly, the market of oligopoly firm usually more stable than monopolistic firm as
there are less seller in the market. According to data, competitors are targeting Nivea’s
primary advantage of being the preferred cold cream while Nivea plans to venture
into new frontier. Therefore, if Nivea becomes an oligopoly, the likelihood of abrupt
disruptions or market failures is reduced. For example, when Nivea is trying to launch
a new product, the company don’t need to concern itself with pricing and profit
margin issues. In contrast for monopolistic market, the market competition in
oligopoly is lesser causes the price in the market more stable. As a result, the profit
margin is guaranteed.

Moreover, If Nivea becomes an oligopoly, Nivea can increase their scale

economics in skincare market. Nivea can engage high production activities for their
products, then it can help them lower average costs per unit to produced. Through
this, Nivea will have more input costs to increase their quality of skincare products
through giving more attention on investment. For instance, Nivea can invest on
innovation aspects which produce more unique and high-quality products to attract
customer. Differing from monopolistic market, it is difficult to wider scale economics
then cause higher costs on their skincare production and leading to less customer to
buy products due to higher prices in market.

In addition, Nivea will have high reputation of brand and consumer loyalty due
to oligopoly firm have high dominance and development in marketing. As an
illustration, Nivea will do research and focus on development of global marketing
which how to promote their product to customer worldwide effectively. Consequently,
recognition of Nivea in worldwide is guaranteed. If Nivea become trustworthiness
brand for customer, they will definitely repeat purchases Nivea products in aspect of

10
consumer loyalty. In contrast, in monopolistic market, Nivea will difficult to establish
strong recognition brand and reliability of consumer due to highly competitive with
other brand and constrained market share.

In conclusion, if Nivea operate as an oligopoly in market, it is undeniable that

giving advantages for company to become a high reputation global brand in this era of
competitive skincare industry.

11
2.5 Compare the price and other relevant information of the good or service with
its two close substitutions within the same place. State 3 reasons why NIVEA can
sell at lower price compared to its competitors

Products Nivea Vaseline Hazeline

Image

Price (RM) 12.9 13.9 19.50

Volume 150 100 100
(g/ml)
Features Moisturizing Moisturizing Moisturizing
Ingredient Water, Mineral Oil, Ingredients: Water, Stearic
Petrolatum, Glycerin, Water, Glycerin, Acid, Sodium
Microcrystalline Wax, Stearic Acid, Hydroxide, Methyl
Lanolin Alcohol, Isopropyl Stearate, Benzoic
Paraffin, Panthenol, Palmitate, Glycol Acid, Fragrance,
Magnesium Sulfate, Stearate, PEG-100 Methylparaben,
Decyl Oleate, Stearate, Propylparaben
Octyldodecanol, Dimethicone,
Aluminum Stearates, Petrolatum,
Fragrance, Citric Acid, Mineral Oil,
Magnesium Stearate, Hydroxystearic
Methylchloroisothiazolin Acid, Stearamide
one, AMP, Glyceryl
Methylisothiazolinone Stearate, Palmitic
Acid
Availability Shopee App Shopee App Shopee App

12
 Nivea, as a successful company in skincare industry, is sell lower price to
customer compared to its competitors. This help Nivea products become greatly
popular with large audience.

Firstly, Nivea have high intelligent market research teams, which utilise curve
some pricing strategies to increase their market share. In order to satisfy the most
demanding customers for its products, Nivea aware about the importance of
affordability toward people. So, Nivea focuses on the lower income category of the
population and keeps to a reasonable price. Due to the intelligent idea of Nivea, They
has keep persistent pricing policy because not only wants to cater to more buyers, but
also improve confidence and trustworthiness of consumer population.

Secondly, Nivea have made effort to lower their input price to avoid higher
prices to customers. Nivea will always make sure a strong distribution network
facilitates fast and effective delivery of the goods to consumer markets. Because of its
efficient distribution network, this maintains low-cost prices by the use of
wholesalers, retailers, and distributors, production costs are lowered. Moreover, most
of the retailer need to gain more revenue by maintaining affordable prices for
consumer, they provide numerous incentives, including minimum pricing on large
purchases, gifts, free merchandise, and discounts.

Thirdly, Nivea operates in a highly competitive skincare market through

competitive pricing. To modifies its prices in response to rivals, Nivea have an
intelligent idea which make sure that its prices are competitive especially in highly
competitive categories like lotions and face care. Nivea make commitment in doing
market research to understand rivals pricing strategy. For instance, they analyzing
other brand of their prices of similar products to recognize any pricing trend and
fluctuations. If Nivea competitor have any adjustment and changes for their price of
products, Nivea will react quickly and adjust prices as need to make sure become the
first choices of lower price skincare products for customers.

In conclusion, it is undeniable that Nivea provide a lower price and high quality of
product to consumer worldwide. That is why, Nivea become a trustworthiness and
widespread popularity brand in skincare markets.

13
2.6 Advantages and disadvantages of buying the good or service under the
monopolistic competition market structure.

The advantage of buying the good or service under the monopolistic competition
market structure is a variety of products and differentiation (refer to appendix
2.6.1). In a monopolistic competition market, there are more products for consumers
to choose compared to a monopoly market. Nivea is a well-known brand that
specializes in skin and body care; there are a lot of substitute brands in the market,
such as SK-II, SKINTIFIC, Y.O.U, and so on. Each company creates a slightly
different product than its competitors, making it unique in some way. Product
differentiation can be based on quality, design, features, branding, or other factors.
This variety enables customers to select products that suit their preferences, tastes,
and needs better. As a result, the customers have more options to choose from the
products.

Moreover, the advantage of buying the good or service under the monopolistic
competition market structure is the high quality of the product and service. In
monopolistic competition market , the company is incentivized to enhance their
customer services, product quality and other non-price aspects to differentiate
themselves from competitors. Since customers can easily switch from one brand to
another, companies are under pressure to produce high quality products to retain the
customers. Most of the companies will also provide a customer care hotline, which
can assist customers when they need to inquire about information about the product,
usage guidelines or any other issues they seek help with. Overall, the companies
provide high quality products and good services to stay ahead of the rivals, which
finally benefits the customers.

Apart from that, the advantage of buying the good or service under the
monopolistic competition market structure is can experience innovative product
(refer to appendix 2.6.2) . To remain competitive in a monopolistic competition
market, the companies must continually differentiate and innovate their products. The
company will invest in research, development, and innovation to improve the quality
of their products and create more new products to meet customer expectations. For
example, Nivea has developed many new products through co-creation and

14
innovation, including Nivea Invisible FOR Black & White, the best-selling deodorant
in the company's 130-year history. Finally, the customer will benefit since they can
have a good experience by accessing innovative technology and features.

The disadvantage of buying the good or service under the monopolistic

competition market structure is needed to pay the hidden price of the product,
which includes advertising costs. In monopolistic competition, companies use
marketing and advertising to differentiate their products. For example, Nivea's parent
company, Beiersdorf, allocated about 2.1 billion euros towards global advertising,
trade marketing, and related expenditures in 2023(refer to appendix 2.6.3). This can
lead to unnecessary spending as firms compete for consumer attention, which could
raise production costs overall without commensurate enhancements in product quality.

Besides, the other disadvantage of buying the good or service under a

monopolistic competition market structure is misleading advertising (refer to
appendix 2.6.1). In a monopolistic market, there exist a lot of competitors which sell
highly similar products. The company will exaggerate their product function through
advertisements to attract customers. From a consumer's perspective, it is not a good
situation. This can cause buyers to base their decisions on inaccurate or overstated
claims about a product's features, advantages, or capabilities. Therefore, before
purchasing, the customers should conduct their research and read reviews to better
understand the product's performance and quality.

Furthermore, the disadvantage of buying the good or service under the

monopolistic competition market structure is needed to pay a higher price for the
product. In a monopolistic market, the firm can easily enter and exit the market. So,
there are a lot of competitors in the market. This makes it harder for companies to
achieve economies of scale. The companies cannot achieve maximum manufacturing
efficiency due to the absence of economies of scale. This may cause higher average
production costs. Therefore, the consumers may need to pay more for the product.

15
 REFERENCES

Reference Books, Journals or Internet Sources Links

Q1 Case Study
1.1 https://technode.global/2023/03/27/gds-tnb-sign-supplemental-
agreement-for-powering-data-center-campus-in-malaysia/

https://www.tnb.com.my/about-tnb/

1.2 https://www.tnb.com.my/assets/newsclip/17042023d.pdf
https://www.tnb.com.my/assets/newsclip/01042023a.pdf

1.3 https://www.energywatch.com.my/blog/2022/06/02/surging-fuel-costs-
rattle-the-worlds-electricity-prices-what-does-this-mean-for-malaysia/
https://www.nst.com.my/business/2023/02/884075/tnbs-fy22-earnings-
drop-54pct-rm346bil-higher-expenses

1.4 https://www.tnb.com.my/commercial-industrial/pricing-tariffs1/
https://www.mytnb.com.my/safety-and-advisory/electricity-
theft#:~:text=A%20consumer%20is%20also%20subject,exceeding
%2010%20years%20or%20both.

Q2 Structured Questions
2.1 https://www.beiersdorf.com/brands/brand-history/nivea
https://www.beiersdorf.com/about-us/our-history/founding-history
https://www.nivea.com.my/en-my/about-us/nivea-history

2.2 https://www.investopedia.com/terms/m/monopolisticmarket.asp

2.3 https://www.wallstreetmojo.com/perfect-competition/

2.4 https://www.investopedia.com/terms/o/oligopoly.asp
https://www.linkedin.com/pulse/niveas-marketing-strategy-case-study-
saurabh-bhandari
https://learnbusinessconcepts.com/advantages-and-disadvantages-of-
monopolistic-competition/?expand_article=1

2.5 https://shopee.com.my/Nivea-Cream-60ml-150ml-
i.53411448.7235869415?sp_atk=1f241f13-39fc-4752-9c25-
 521b11c212a0&xptdk=1f241f13-39fc-4752-9c25-521b11c212a0
https://www.linkedin.com/pulse/niveas-marketing-strategy-case-study-
saurabh-bhandari
https://www.marketing91.com/marketing-mix-of-nivea/
2.6 https://learnbusinessconcepts.com/advantages-and-disadvantages-of-
monopolistic-competition/?expand_article=1

https://value-co-creation.blogspot.com/2011/02/co-creation-story-behind-
niveas-new.html

https://www.statista.com/statistics/261974/expenditure-of-beiersdorf-ag-
on-advertising-and-trade-marketing-worldwide/

Appendix

1.3

2.3
2.4
2.5
2.6