MARKET CONSTRUCTIONS What is a Market structure? In economics Market structure is the way industry is organized, based largely on the quantity of firms in the marketplace, number of purchasers and levels of competition, for example Monopoly, oligopoly, Excellent Competition. Monopolistic competition is a market composition is the market structure I am going to base this kind of assignment in. Monopolistic Competition
Monopolistic Competition is a sort of imperfect competition such that manufacturers sell items that are differentiated from one one other as goods but not as perfect alternatives, they vary in terms of brand, quality, and location.
In monopolistic competition a good takes the prices charged by its competitors as given and ignores the impact of its own rates of different firms. Monopolistic competition has the following Characteristics: – ¢ There are many makers and customers in the market with out company provides total control of the market value. There are very barriers in the entry , exit of firms. ¢ Producers have a degree of control over rates. ¢ There may be product differentiation. ¢ Self-employed decision making. Samples of Monopolistic competition: – Businesses involving the providing toothpastes, soaps, electronics, and automobiles are examples of monopolistic competition. EVALUATION OF A FIRM IN MONOPOLISTIC COMPETITION Business name: MICROMAX Regarding Micromax Micromax is a electronics Company found in 1991 and based in Gurgaon, Haryana, India.
It focuses primarily on the sale of Mobile phones, LED televisions as well as tablets. They have 23 home offices as well as offices in Honk Kong, Dubai, UNITED STATES and also utilizes over 1400 employees. Micromax is the 3rd largest handset manufacturer as well as the 12th greatest manufacturer on the globe. As of 2012, Micromax potential clients the Of india tablet market with a talk about of 18. 4% which can be higher than however, likes of Apple and Samsung, also, it is the 3rd major mobile phone merchant in terms of volume.
The company’s rapid market share growth since 2008 is mainly attributed to it is aggressive low pricing and entry level sections of usana products and its vast distribution setup. ANALYSIS OF ANY PRODUCT BY MICROMAX Product name: MIcromax A116 Painting HD The Micromas A116 Canvas HIGH-DEFINITION was launched at the start of January 2013 and is also the latest Mobile phone to be introduced by MIcromax and is likewise their best phone yet and aims to competitor even the greatest Smartphones of international companies like Samsung, and Micromax has searched for to do this with aggressive low pricing.
Here are the technical specs of the Micromax A116 HD |Screen and Resolution |5 HD(1280X720 pixels) | |Camera |8MP with LED flash , front facing camera | |RAM |1 GB | |Operating program |Android four. Jelly bean | |Memory storage |4 GB, expandable to 32 GB | |Processor |1. 2ghz quad key ARM cortex | |Battery |2, 90 mAh Battery(approx 21 hours) |
Guide The Micromax A116 Painting HD has a plastic developed and contains a very effective chipset and processor, and has no physical keys since it is a full touchscreen display. The Touch screen phone also goes along with the latest main system from Android os which is Jellybean, the power supply is a 2, 100 mAh battery that can last intended for an approximate 21 years old hours. Value The Micromax A116 HIGH DEFINITION is priced at 12-15, 000 Rupees. COMPETITION AND THEIR PRICES
The subsequent tables a few competition from International Corporations for Micromax: – The samsung company |Samsung Galaxy Grand |21, 500 | |Samsung Galaxy S3 |35, 000 | |Samsung Galaxy S3 mini |24, 1000 |
THE ALL NEW HTC |HTC 1 X |34000 | |HTC One H |22999 | |HTC One particular V |18000 |
LG ELECTRONICS |LG Optimus G |35, 000 | |LG Optimus L9 |19, 899 | Nokia Nokia Lumia 620 |15, 1000 | |Nokia Lumia 920 |35, 490 | |Nokia Lumia 900 |31, five-hundred | Listed below are some competition from Home Companies pertaining to Micromax: – Karbonn Karbonn S1 Titanium |11, five-hundred | ELASTICITY OF THE ITEM Price elasticity of Require If the value of the system is increased with a particular amount, then the require of the product will lower by a additional amount, while the consumer contains a host of other alternatives to choose from and may choose the item which will give him the most satisfaction at a lower cost, hence the demand for these phones are highly elastic.
Elasticity Of Supply In the event the Market price of the product decreases by a particular amount then the firm will give fewer goods than the quantity in which the selling price has increased, while the company does not need to sell their products at a lower price and can wait till the price increases to again increase their supply, as a result Micromax posseses an elastic supply. , , , , , , , , MONOPOLISTIC COMPETITION MARKET COMPOSITION RHYS CAMARA ROLL NUMBER -1 INDUSTRY STRUCTURE
