Introduction Kuddler Fine Foods engages itself in offering quality products and services to the esteemed customers. The vision of the company is to gain high customer satisfaction and currently it has set up three business locations with further opportunities of expansion…
Download file to see previous pages...
The attraction of the consumers is ensured through high quality products. The products where the company specializes in are not available easily in the market and therefore the company has the opportunity to cement the consumer base. The company can thus control the bargaining power of the consumers. The needs of the consumers can be readily analyzed and they are assisted in taking the advantage of the buying opportunities. The customers are driven towards the shops with the help of the discounts offer. The supply chain managers of the company can recognize the importance of the customers in their business. They are aware that attracting more customers will involve more sales which in turn mean more revenue and profits. The customers are retained through the modes of product variety and low costs. The services offered are efficient and ensures that customers do not queue up in the shops of the competitors. The customer loyalty has been gained by the company through the modes of customer retention and widening up more opportunities for the customers which increases the customer sovereignty and the customers have the option to choose the products that suit their preferences. Competitors never got the chance to drive away consumers from Kedler Fine Foods. In order to compete effectively the competitors are forced to make additional expenses in terms of marketing and advertisements. Competitive strategies Branding ensures that the customers associated with the company believe in innovation and quality. The customers want value for money and so the company engages in providing top quality support to them. The efficient delivery system has paved the way for higher profits while the lack in innovation can lead to reduced sales and revenue. The company has been able to invent new product styles and effective delivery system upon placement of orders. Internet marketing is the strategy that was adopted by the company to promote the products. The website offers information on a variety of products, details on delivery system and some other information that may be necessary for the customers (Porter, 1985). The online customer relationship is an effective way of managing the business and to deal with the customers in prompt fashion. Positioning is a strategy that tends to increase profits. The company enjoys the top position in offering fine quality products to the customers who demand quality with competitive prices. The company targets the middle class customers and focuses to cement the customers’ base with time. Market Structure The company operates in the market of perfect competition. A large number of small firms comprise the market for perfect competition. Each firm is small compared to the entire market. The comprising firms set the identical products. The customers as well as the firms are well informed about the prices. In the short run the firms can change only the variable factor namely labor. The other decisions are predetermined. In the long run the firms have the potential to change their scale. In the short run when the existing price is less than the average cost curve it is better for the firm to close down. Several buyers are present in this market. The market offers products that are substitutable. There are no barriers to entry and therefore provides a level playing field for the new entrants (Etro, 2009). The forces of demand and supply determine the prices of the products and since the company under
...Download file to see next pagesRead More
Cite this document
(“Differentiating Between Market Structures Essay”, n.d.)
Retrieved from https://studentshare.org/macro-microeconomics/1466243-differentiating-between-market-structures
(Differentiating Between Market Structures Essay)
“Differentiating Between Market Structures Essay”, n.d. https://studentshare.org/macro-microeconomics/1466243-differentiating-between-market-structures.
It is evidently clear from the discussion that in a perfect competition the price is determined only by the market forces. In a monopoly the price is determined by the firm and is more than the competitive price. In an oligopoly and monopolistic competition, the prices are affected by the prices of the rival firms.
A Sony Corporation is a leading manufacturer of electric electronic gadgets all over the world such as music, online business, motion pictures, television, and computer entertainment. The organization has gained recognition throughout the world following its high awareness of products to the customers.
These market structures range from the perfect competition to monopoly, in between these two extremes are the monopolistic competition and oligopoly. Their differences may be summarized through the number of firms present in the industry, barriers to entry, their market power and the type of products they are selling (Schiller, 2006).
Coca Cola holds a marketplace leader position in the entire oligopoly market foundation, where there are barely any key market players and scarcely any stress from potential opponents. Coca Cola is a primary or a manufacturing industry. It depicts a kinked demand curve, augmented opening barriers, augmented cost sensitivity and interest group (Sutton, 2012).
al, 2011). Therefore, market structure affects the market outcomes by influencing opportunities, motivations and decisions of vast industries participating in the market. The aim of market structure analysis is to isolate the effects in an attempt to predict and explain the market outcome.
Typical fast food restaurants serve snacks like fried chicken, hamburgers, donuts and meat pies. In addition, these outlets provide a wide range of carbonated drinks and deserts to consumers. Most people, especially college students and working class professionals may lack time to prepare conventional breakfast meals.
Additionally, it is difficult if not impossible to prevent an individual from using the good.
A common resource consists of natural resources or man-made, which can be used by a large population through
Market models represent the real situation, they enable one to understand things that happen in real-life situations. These models help in the analysis and evaluation of markets; hence offering the benchmarks for development of
Beachbody LLC is a multinational corporation that was founded in the year 1998. The company uses multi-level marketing and infomercial to sell weight loss, fitness and muscle building home exercise DVDs. Among its trending home DVDs include the Tony Horton’s P9OX
4 Pages(1000 words)Essay
GOT A TRICKY QUESTION? RECEIVE AN ANSWER FROM STUDENTS LIKE YOU!
Let us find you another Essay on topic Differentiating Between Market Structures for FREE!