Question 1. Read the text below and then answer ONE of the questions below. The Yogurt Industry had a total sales value just under 2.2 billion Pounds in 2022. The Yogurt and Sour milk food category has been recovering from a period of period of loss of annual sales. The industry has been challenged by the emergence of alternative dairy products and consumers health concerns. More recently the industry has been affected by raises in input prices, leading to an increase in consumer's prices. In the last year it had a year-on-year growth of 7.3 according to Passport Euromonitor. In the UK both national brands (say brands from Danone) and private labels (supermarket brands) have significant market share. The table 1 below shows the market shares in percentage of sales for the years 2021-2023 (estimate): United Kingdom: Company Shares | National - Historical Owner | Historical | % breakdown Category Company Name 2021 2022 2023 Danone Ltd 22.1 22.6 21.7 Yoghurt and Sour Milk Products Yoghurt and Sour Milk Products Yoghurt and Sour Milk Products Yoghurt and Sour Milk Products Yoghurt and Sour Milk Products Yoghurt and Sour Milk Products Yoghurt and Sour Milk Products Yoghurt and Sour Milk Products Yoghurt and Sour Milk Products Yoghurt and Sour Milk Products Yoghurt and Sour Milk Products Yoghurt and Sour Milk Products Yoghurt and Sour Milk Products Yoghurt and Sour Milk Products Yoghurt and Sour Milk Products Yoghurt and Sour Milk Products Yoghurt and Sour Milk Products Yoghurt and Sour Milk Products Yoghurt and Sour Milk Products Yoghurt and Sour Milk Products Question 1: Müller Dairy (UK) Ltd Yeo Valley Farms (Production) Ltd Yoplait UK Ltd Fage UK Ltd Tesco Plc Epicurean Dairy (UK) Ltd Biotiful Dairy Ltd Onken Dairy (UK) Ltd Benecol Ltd J Sainsbury Plc Arla Foods Ltd Lactalis Nestlé Chilled Dairy Co Ltd Asda Group Ltd Yakult UK Ltd Rachel's Dairy Ltd Unilever Foods UK Ltd Other Private Label Others Total 17.3 15.7 15.0 6.9 6.6 6.8 6.1 6.2 6.0 5.4 5.4 5.4 3.5 3.4 3.3 3.4 3.3 3.1 2.3 2.7 2.8 3.4 3.2 2.7 2.8 2.7 2.6 2.2 2.4 2.3 2.0 2.4 2.2 1.9 1.9 1.9 2.0 2.0 1.9 1.9 1.8 1.8 1.8 1.7 1.8 7.4 7.8 7.7 7.7 8.5 11.1 100.0 100.0 100.0 Source: Euromonitor 2023 A. Determine the competitiveness of this industry calculating the C4 and the Herfindahl Hirschman (HH) index for this industry. B. How would you classify the structure of this industry? Is there a dominant firm? How do firms compete? C. Are the differences between in the way national and private label companies compete in this industry? Use your knowledge on the different types of market stsructures to justify your answer. Question 2: Option 2 A. Which market structure best characterizes the British Yogurt and Sour Milk Industry. Justify B. How do firms compete to keep long-term profits in this industry? C. You were selected to be Danone Greek Yogurt category manager. Explain what opportunities and challenges you face to increase sale in this category by 15 % over the next 3 years