WEEK 4 ECONO
Research project 1: Market 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 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.
This research paper must be documented in Microsoft Word, APA formatted, and includes at least three scholarly peer reviewed articles.
The paper is required to be about 10 double spaced pages and submitted it in the Assignment section of the classroom by midnight, EST, Day 7. Upon submission, your paper automatically will be submitted to “Turnitin.com” for plagiarism review. Your paper must be structured as
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
References
Schmidt, K. M., Spann, M., & Zeithammer, R. (2015). Pay What You Want as a Marketing Strategy in Monopolistic and Competitive Markets. Management Science (INFORMS), 61(6), 1217–1236. https://doi-org.ezproxy2.apus.edu/10.1287/mnsc.2014.1946
Sirur, A. J. N., & Rajasekharan, P. K. (2024). Pricing of hospital services: evidence from a thematic review. Health Economics, Policy and Law, 19(2), 234-252. https://doi.org/10.1017/S1744133123000397
Ellickson, P. B., Misra, S., & Nair, H. S. (2012). Repositioning Dynamics and Pricing Strategy. Journal of Marketing Research (JMR), 49(6), 750–772. https://doi-org.ezproxy2.apus.edu/10.1509/jmr.11.0068