Differentiating Between Market Structures;

Differentiating Between Market Structures;

Read the instructions in the University of Phoenix Material: Differentiating Between Market Structures located on the student website and select one option to complete the assignment.

Differentiating Between Market Structures

The purpose of this assignment is to identify applications of economics by evaluating strategies acted upon by firms.

Select and complete one of the following assignments:

Option 1: Differentiating Between Market Structures in Kudler
Option 2: Differentiating Between Market Structures in an Organization of Your Choice

Option 1: Differentiating Between Market Structures in Kudler

You will apply important microeconomics concepts toward the competitive strategies of the Kudler Fine Food Virtual Organization that affect its long-term profitability. You will evaluate the differences between market structures and review the organization’s strategic plan, marketing overview, market surveys, and other material to evaluate the organization’s competitiveness in the marketplace, including its customers’ views. In the process, you will identify the market structure that you believe best applies to this organization, and assess how the market structure positively and negatively affects the firm’s long-term profitability.

Complete the University of Phoenix Material: Differentiating Between Market Structures Table located on the student website. Compare the various characteristics of the market structures by completing the table.

Kathy Kudler has hired you as a consultant to perform a market analysis, review her competitive strategies, and make recommendations on how she can maximize profits.

Read the materials in the Kudler Fine Foods Virtual Organization, including the firm’s strategic plan and marketing overview.

Write a 1,050 – 1,400-word market analysis in which you address the following:

•    Based on the details available to you in the strategic plan, marketing overview, market surveys, and other material, how does the organization compete in the marketplace? What are the strengths and weaknesses of the firm as indicated by the marketing surveys completed by their customers?

•    Based on your learning, identify the market structure that you believe best applies to this organization. Defend your answer. How does that market structure positively and negatively affect the firm? How does the effectiveness of the competitive strategies in the market structure affect the organization’s long-term profitability?

•    What competitive strategies would you recommend for Kudler Fine Foods? Explain your answer. Identify real-world organizations that are comparable with Kudler Fine Foods.

Option 2: Differentiating Between Market Structures in an Organization of Your Choice

You will apply important microeconomics concepts toward the competitive strategies of an organization that operates in an industry of your choice. You will evaluate the differences between market structures and identify a group of competitive strategies consistent with the market structure that best aligns with the market in which the organization competes. You will assess how the market structure positively and negatively affects the firm and evaluate the efficacy of the structure’s competitive strategies.

Complete the University of Phoenix Material: Differentiating Between Market Structures Table located on the student website. Compare the various characteristics of the market structures by completing the table.

Write a 1,050 – 1,400-word paper

Select an industry. Identify an organization in that industry. Identify the market structure in which this organization competes. Clearly indicate why the market structure was decided upon, and how this market structure differentiates from the other alternatives.

Identify three or more competitive strategies of your choice that may be used by the organization to maximize its profits over the long run. Evaluate the efficacy of these strategies in the market structure you identified.

Make recommendations related to the strategies the organization might consider to maximize its profits.

Compare the four market structures by filling in the table.

Perfect competition    Monopoly    Monopolistic competition    Oligopoly
Example organization
Goods or services produced by the organization
Barriers to entry
Number of organizations
Price elasticity of demand
Is there a presence of economic profits?

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