Marketing Analysis Perfect Competition - 2982 Words

Introduction Markets do not have control of how their products are sold to consumers who strive to purchase merchandise. Every market has its own particular regulations relating to how buyers purchase items and how sellers sell them. This concept aids businesses in regulating how they function and how they must operate in future. I will provide an adequate amount of information concerning perfect competition, monopolistic competition, oligopoly, and monopoly. I will also discuss how each term is important to consumers and how it affects the market. Perfect Competition Perfect Competition is a theory of market structure based on four assumptions: there are many sellers and buyers, sellers sell a homogeneous good, buyers and sellers have all relevant information, entry into or exit from the market is easy (Arnold.214).This market structure is relatively easy to enter and exit which is convenient for anyone who wants to own a company. A perfectively competitive firm is a price taker, which is a seller that cannot control the prices of the product they sell. â€Å"There is no government interference in the market in the form of taxes, subsidies, rationing of essential goods etc.†(Dutta.63) Consumers have many substitutes if the products they want to buy become too expensive or its quality is poor. For markets to have incentives for substitute for the products will be easy because consumers will be willing to buy as long as the rules apply. (Berta, Julien, tripcou. 2012) ItShow MoreRelatedThe Strength of Competitive Analysis905 Words   |  4 PagesINTRODUCTION: Competition Theories Compete It is never doubted by academic circles and business environments that the strength of competitive analysis, if not the top, is one of the most important critical success factors in creating and managing marketing strategies. 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