Every business that operates today falls into one of four market structures:
- Monopoly
- Oligopoly
- Monopolistic competition
- Perfect competition
To be successful in their respective industry, business owners and managers should understand the strengths and weaknesses of the market structure in which they operate and ways of maximizing their profitability. This assignment allows you to apply the impact of market structures professionally.
For this Individual Project, compare and contrast 2 of the following market structures:
- Monopoly
- Oligopoly
- Monopolistic competition
- Perfect competition
Once you have identified the market structures you would like to compare, please complete the following
- Identify a company that operates in each of your chosen market structures. Think about the products or services offered by each of the companies. Then, answer the following questions:
- Who are the customers of each company?
- Who are the competitors of each company?
- Who are the suppliers for each company?
- Create 10-12 slides for a PowerPoint presentation (excluding the title, conclusion, and reference slides) with a minimum of 200-250 words on each slide in the notes section.
When completing this PowerPoint presentation, consider the following:
- Identify 2 market structures and 2 companies.
- Compare and contrast the characteristics of each market structure.
- Discuss each company in terms of the following:
- Products and services
- Competitors o Suppliers
- Identify and discuss barriers to entry and exit for each of the industries your chosen companies operate in and the role that market structure plays.
- Identify suggestions for improved competitiveness.
How could your companies better compete in their given industries? Consider the following and provide relevant examples: - Pricing
- Branding
- Customer loyalty o Ingenuity
- What role does the market environment play in the development of competitive strategies?
- Provide a conclusion that highlights the key points of your presentation
