Problem:
I am working on a project that will consist of about 110-125 words per question. I need to analyzing the current market conditions of "Starbucks" (selected Business)Please address the following topics in your analysis: (all information is about Starbucks only)
1. Prices
2. Technology
3 Price elasticity of demand
With one reference per question
1. Competition can take many forms. Price competition includes collusion, price discrimination, price leadership, loss leaders, and game theory (thinking about what the other "players" will do in response to your "move"). Non-price competition includes product differentiation and advertising.
a). List a few products that are marketed using price and non-price competition.
b). Identify an advantage of each strategy and under what conditions you might use each.
2. How do market prices differ between perfectly and imperfectly competitive markets?
a). How do the cost structures and ability of a firm to differentiate its product from a competitor's product help to determine market structure?
b). Provide a real world example of each of the following market structures:
· Perfect competition
· Monopoly
· Monopolistic competition
· Oligopoly