AGCM

The notifying party must supply a brief description of the relevant markets affected by the agreement. The relevant product and geographic markets determine the scope within which any restriction on competition deriving from the agreement must be appraised. They are, respectively, the smallest group of products and the smallest geographic area for which it is possible that, in view of existing substitution possibilities, a substantial restriction on competition may result in relation to the object or effect of the agreement.

The relevant product market. A relevant product market includes all the products and services which consumers see as interchangeable or substitutable by reason of their characteristics, prices and intended uses.

Factors relevant to the assessment of the relevant product market include elements explaining why certain products or services are included and others are excluded, vis -à-vis the definition given above and taking into account, inter alia, the characteristics of the products, prices, functions and intended use, and any other factors relevant to the definition of the product market.

The definition of the relevant product market focuses generally on demand-side substitutability. However, in order to assess the overall competitive conditions in a market, the Authority also considers the possibility of substitution on the supply side, namely, the possibility for other producers to easily reconvert their own capacity, to enable them to place products or services on the market in substitution of those offered by the parties to the agreement.

The relevant geographic market. A relevant geographic market is the area in which the parties to the agreement supply the relevant products and services, and which may be regarded as distinct from neighbouring geographic areas because of the absence of significant possibilities of geographic substitution .

Factors relevant to the assessment of the relevant geographic market include the nature and characteristics of the products and services concerned, transport costs, the existence of other entry barriers, consumer preferences, the existence of appreciable differences between neighbouring geographic areas, and the existence of significant price differences.

Section 2 - Other informtation on the relevant markets 

For each relevant market affected by the agreement, please supply: (a) an estimate of the total value and volume of the Italian market and (b) of the relevant geographic market for the agreement; (c) an estimate af the sales volume of the products affected by the agreement, in Italy and on the relevant market and where available 
(d) an estimate of the value and if possible the volume of imports and exports of the products affected by the agreement (taken separately in terms of geographic origin) and the percentage of these imports and exports concerning from foreign affiliated undertakings of the undertakings parties to the agreement.

For each relevant market describe: (a) the nature and trend of the demand, indicating in particular its elasticity in terms of price; (b) the type and approximate number of purchasers, and (c) the organisation for the production and sale of the products, indicating the main distribution channels and service networks.

When the agreement affects several production and/or service markets: (a) provide an analysis of the technological, production and distribution links between those markets and (b) state whether the entry of a new undertaking into one of the markets requires the simultaneous entry into another market.