Analysis Of Market Structures And Relating Pricing Strategies

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Pricing strategy varies significantly across different market structures. The pricing guidelines in a monopoly market are relatively straightforward. Since the company is the only producer offering the product, it can mark-up the price as far as the customer can bear. The pricing strategies for a producer operating in a perfect competition structure are also fairly intuitive. They are price takers, and hence price is set at the marginal cost of the product. This is due to the fact that there are many firms offering nearly identical products. However, there is optimal pricing for the market structures offering differentiated products with many competitors (oligopoly) or a few producers (monopolistic competition). These are much more complex and involved. It has been stated that differentiation in products that creates differences in customer valuation is the most prevalent type of competition. In such markets pricing strategies may include the three C’s of cost, competition, and customer.

Develop a paper 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.

Your paper should be around 10 double spaced pages, in APA Format and structured as follows:

Cover page with a running head
Abstract
1. Perfect Competition
1.1. Description
1.2. Pricing Strategies
2. Monopolistic competition
2.1. Description
2.2. Pricing Strategies
3. Oligopoly
3.1. Description
3.2. Pricing Strategies
4. Monopoly
4.1. Description
4.2. Pricing Strategies
5. Case Study
6. Conclusion
References

Your paper needs to include at least three scholarly sources, i.e. peer reviewed articles. I strongly recommend the use of the APUS library for these sources, as most acceptable resources can only be found in protected databases.

Sample Solution

hroughout the many eras such as the Byzantine, the Elizabethan, the Romantic, and many more, the ideas of a social hierarchy system have remained the same. However, the mobility between classes has dramatically changed through various time periods. Throughout this journal, authors Marco H.D. van Leeuwen and Ineke Maas discuss their historical research on social mobility and structure, as well as the shifts in the social imbalance in earlier years and what factors caused these outcomes. Marco H.D. van Leeuwen is an honorary research associate at the International Institute of Social History as well as a Professor of Historical Sociology in Utrecht. Ineke Maas is a Professor at the Department of Sociology at the Universiteit Amsterdam and studies trends in mobility throughout generations, in careers, as well as in marital situations. Due to their many qualifications, Leeuwen and Maas act as an exceptionally reliable source for my topic. This article connects to the Status Mobility and Reactions to Deviance and Subsequent Conformity journal by Elihu Katz, William L. Libby Jr., and Fred L. Strodtbeck because they both discuss the differences of social mobility throughout various eras.

Zollman, Kevin James Spears. “Social Structure and the Effects of Conformity.” Synthese, vol.
172, no. 3, 2010, pp. 317–340. JSTOR, www.jstor.org/stable/40496044

Conforming to the rules and standards of one’s society can cause harmful or beneficial effects on a person, depending on the severity of the situation. Throughout this journal article, author Kevin James Spears Zollman discusses the overall effects conformity has on a person, and more specifically what effects conformity has on different obdurate social networks and their structure. By analyzing a mathematical model of the conformist behavior, Zollman was able to distinguish the positive effects conformist behavior has on individual reliability and the negative effects it has on a group’s reliability. Due to Zollman’s familiarity and research focus on game theory — the study of mathematical models of calculated reactions between reasonable decision makers — and his profession as an associate professor in the Department of Philosophy at Carnegie Mellon University, he serves as an extremely credible source on this topic. In Voltaire’s Candide, Candide is influenced by his wealth and confidence about what lies ahead. It isn’t until Candide is throw out of his home that he realizes the hardships other people encounter and that he was wrong to be optimistic. This journal article written by Kevin James Spears Zollman has provided me an extensive amount of effective information on the positive and negative effects conformity has on a person or group, as well as how these effects are reflected in social structures.

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