Assignment Task: Structures and Pricing Strategies
Pricing strategy varies significantly across different market structures of perfect competition, monopolistic competition, oligopoly and monopoly which are complex. As discussed in detail in your textbook, the assessment of market structure is conducted on the basis of
- intensity of competition, depending on the number of firms in the industry,
- homogeneity of products, evaluated by the extent of substitutability of a firm product by the products of its rivals,
- barriers to entry, estimated by the complexities and obstacles confronting potential firms from entering the industry,
- information asymmetry, assessed by the degree of availability of knowledge of price to buyers.
Develop a summary detailing an analysis of market structures and relating pricing strategies that are suitable for each of these structures. Furthermore, include a real world example of pricing strategy for a specific company by identifying its market structure.
This research summary must be documented in Microsoft Word; APA formatted, and includes at least three scholarly peer reviewed articles.
Section 1: Abstract
Section 2: Detailed analysis of perfect competition market structure and its specific pricing strategies,
Section 3: Detailed analysis of monopolistic competition market structure and its specific pricing strategies,
Section 4: Detailed analysis of oligopoly market structure and its specific pricing strategies,
Section 5: Detailed analysis of monopoly market structure and its specific pricing strategies,
Section 6: Case study: choose a business and discuss its market structure and pricing strategies.
Section 7: Conclusions
Section 8: References
Principles of Managerial Economics. (2012). Saylor Academy.