Assignment:
· Introduction
Describe a US based organization to analyze. State its commodity, business model, target market, specialization, product differentiation, pricing strategy, and market share. In addition, describe the market structure it operates in (monopoly, oligopoly, monopolistic competition, or perfect completion) and state the characteristics of this business that make it fall into this market structure. State the organization's main competitors and the strategies it uses to remain competitive in the market. If possible, state that one characteristic that its commodity has that makes them unique in their market.
· Data
o Obtain three credible sources to provide facts about market share, pricing strategy, growth, revenue, and profit maximization approaches.
o Use tables, graphs, and figures to support your argument (if available).
· Analysis
Determine whether the commodity this organization provides is elastic or inelastic, and why. Then discuss the advantages and disadvantages, as well as opportunities and threats, of operating in this market. In addition, discuss the profit maximization strategies this organization uses. Moreover, discuss the level of market power this organization has in the market they operate in and the reasons they have such market power. Do they have control over prices (price maker) or do they have no control (price taker) and why?
· Conclusion
Provide your own final thoughts, opinions, and understanding of the benefits of operating in this market structure. Also, state what else this organization could do to gain more market power and to maximize their profits.
· Reference List- Use three professional sources to support this argument.