One of the main characteristics of an oligopolistic market are the few number of sellers in the industry and a large number of buyers. Therefore, Samsung Group is in an oligopolistic market structure because a small number of vendors that have sizeable market shares characterize the smartphone industry. Lee and Andrews state that an oligopolistic market structure is different from the other market structures in that there are only a small group of sellers while in a monopoly there is only one seller and in perfect competition and monopolistic competition, there are scores of dealers. The level of competition Samsung Group will face in each of the market structures.
The market structure in which Bimbo Bakeries, USA is most closely identified with is monopolistic competition.
A decisive explanation for categorizing Bimbo Bakeries, USA in this market structure will be offered as well as how this market structure differentiates from the other alternatives.
Strategies that may be used by the organization to maximize its profits over the long run will be summarized and an evaluation of the efficacy of these strategies in the monopolistic competition will be offered. Finally recommendations related to the strategies the organization may consider maximizing its profits will be made.
Market Structure Bimbo Bakeries, USA is most closely identified with the market structure monopolistic competition because of the shear nature of the industry.
Although it is the leading maker of baked goods in the industry it has many competitors. The top four companies are composed of only The bakery industry includes many smaller bakeries, but recent trends lean toward consolidation and economies of scale.
These businesses compete in the arenas of price, quality, differentiation, and relationships with key suppliers Roe, Differentiating Between Market Structures Monopolistic competition differs from the other market structures in varying ways.
When compared, monopolistic competition appears to be the easiest market structure to enter. Monopolistic competition is comprised of independent firms who are not dependent on other firms in the system for decisions about production and profit making endeavors. On the other hand oligopolistic firms, for instance, are mutually interdependent.
Oligopolies take into account the reactions of other firms; monopolistic competitors do not Colander, Monopolistic competition differs from monopoly as well in that monopolies exist because of the barriers to entry preventing competition.
There are few barriers to entry in the monopolistic competition model. With the monopoly model these barriers can be legal barriers take, for example, a firm that has a patent preventing new firms from enteringsociological barriers where entry is prevented by customs or traditions, natural barriers where the firm is the only one with the ability to manufacture what other firms cannot reinvent, or technological barriers where the size of the market will support only one firm.
Last, when comparing monopolistic competition with perfect competition, one will find that monopolistic competition is much more realistic. Consequently, "although perfect competition has a high level of restrictive assumptions, itDifferentiating Between Market Structures Coca-Cola is one of the world’s top selling soft drink companies.
Coca-Cola has continuously progressed since it began Coca-Cola has continuously progressed since it began Clearly indicate why the market structure was decided upon and how this market structure differentiates from the other alternatives. Describe the level of competition the organization will face if under each of the following market structures.
Differentiating Between Market Structures ECO April 6, Differentiating Between Market Structures Market structure is the state of the market with respect to its competition. There are several different market structures such as perfect competition, monopolies, and oligopoly.
Differentiating Between Market Structures Essay one of four different market structures; perfect competition, monopoly, monopolistic competition, and oligopoly. The market structure an organization is grouped in is based on characteristics such as competition, products, and ease of entry into the market.
Differentiating between Market Structures The structure of a market is defined by the number of firms in the market, the existence or otherwise of barriers to entry of new firms, and the interdependence among firms in determining pricing and output to /5(1).
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