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Differentating Between Market Structures Essay

1251 words - 6 pages

Differentiating Between Market Structures
Jacqueline Carr
ECO/365
April 22, 2013
Daniel Rowe

Differentiating Between Market Structures

As a hired consultant a market analysis is performed for the Kudler Fine Food Virtual

Organization. To gain full review of the company's potential the organizations strategic plan,

marketing overview, customer’s views, and market surveys are reviewed. The information will

allow an understanding of the company's competitiveness within the industry. The market

structure that best relates to the virtual organization is revealed to access whether the

organization has the ability to achieve long term profitability. At the end of the ...view middle of the document...

This has

been done by the company expanding it services such as parties and frequent shopper programs

(Apollo Group, 2011). The development of these programs will create an increase revenue and

customer base. These programs have not been initiated by other food stores allowing

the organization to remain in the lead by offering what the customer wants. Another way the

company is competitive in the marketplace is that the owner Kathy is geared towards providing

customers with new gourmet selections (Apollo Group, 2011). This allows the company to

follow trends of its customers and being able to set a price on those items. By being flexible on

price the company can change prices when there is need to stimulate the sales on a product.

Kudler Fine Foods remains competitive in the marketplace because of its ability to be flexible

and provided products and services based on customer needs.

The market surveys located on the store intranet site allows the identification of the

organizations strengths and weaknesses. The organization strengths is the appearance of the

store, store hours, and value of products (Apollo Group, 2011). The market survey shows high

strongly agreements on the selected strengths. This shows that the company has made a

appealing store and welcomes customers. This is the first step in gaining loyalty from its

customers. The weaknesses that the store shows is the knowledgeable and courteous staff

(Apollo Group, 2011). This is an astronomic fail on the management staff. Customers are

coming to the store but can feel intimated by non courteous staff and decide to never go back

their again. Knowledge of the products that are available is a must by staff members, and at this

time the market surveys found that customers did not find the staff members knowledgeable.

This shows that Kudler Fine Foods must get back to the basics of the training programs. Lack of

training can be why the market survey showed so low results.

Based on the information provided, the Kudler Fine Foods belongs to the oligopoly

market structure. Oligopoly markets have only a few numbers of sellers in the market (Colander,

2010). Kudler Fine Foods only has a handful of competitors in the market that offers the same

products and service to its customers. The market structure that the organization is involved in

has negative and market can drive the competition between the few companies and make

massive profits by setting prices (Colander, 2010). This is beneficial during economic hardship

because the company will be able to sustain itself during the recession. The profits in the

oligopoly market structure allows the company to enter (Colander, 2010). The disadvantages of

an oligopoly market structure is the prices (Colander, 2010). This does not benefit the customer

because he or she is not able to find an alternative, thus having to pay the price of what the

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