market structure
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1. Pick any organization; determine what strategy you would recommend for the organization in terms of pricing, non price barriers to entry and product differentiation?
2. Explain which market structures are price makers and price takers. What is the difference in the demand curves and why.
3. Describe the pricing strategies in monopolistic competition, oligopoly, and monopoly market models.
Which market structure would you consider to be the most efficient in terms of meeting the economic needs of society? Which is the most inefficient? Please explain you answer
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1. Pick any organization; determine what strategy you would recommend for the organization in terms of pricing, non price barriers to entry and product differentiation?
The organization that I have picked makes plastic strapping is Blueview Plastics located near the Minneapolis Grain Exchange. The company makes plastic strapping of different sizes and qualities and markets them through hardware stores and direct to some industries in the area. Now, there are many such producers all over the USA that make plastic strapping and each strives to differentiate its product from others. The structure is monopolistic competition. The strategy in terms of price would be that the prices should be close to what the other strap makers are charging. However, it can differentiate its product through high quality printing, high compliance with specifications, and higher break strength through the use of imported additives. Differentiation will enable the firm to charge slightly higher prices for its strapping but it should not charge very high prices or the customers will move to other strap makers. The non price barriers are the access the company has to local industries, the "secret" additives it uses to increase the strength of its straps, and the close relationship its sales persons have established with its industrial customers.
2. Explain which market ...
Education
- BSc , University of Calcutta
- MBA, Eastern Institute for Integrated Learning in Management
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