KUDLER
Option
Differentiating Between Market Structures Table
Compare the four market structures by filling in the table.
Perfect competition
Monopoly
Monopolistic competition
Oligopoly
Example organization
Grocery stores
Utility companies
Cable companies
Automobile companies
Goods or services produced by the organization
Indistinguishable from others unique
Very unique
Fairly unique
Barriers to entry nonexistent
Virtually insurmountable high
Relatively high
Number of organizations many few
A small group
Price elasticity of demand
Highly elastic none
Relatively inelastic
Relatively inelastic
Is there a presence of economic profits?
negligible yes yes
Kudler Fine Foods Virtual Organization:
The firm's strategic plan and marketing overview
Kudler Fine Foods is a purveyor of fine, gourmet and all-natural foods. It has a relatively small array of stores in the state of California. All stores offer products to customers that desire something out of the ordinary in their food selections. Kudler stocks wines, cheeses, and specialty items as well as fresh produce for 'foodies.' Kudler also has an online component. It currently adopts a differentiated market strategy -- it offers uniquely wholesome products to its consumers rather than competes on price alone. It also offers a wide array of international goods. This enables it to capitalize both upon the trend towards more 'organic' eating, as well as the appetite for more exotic foodstuffs. Both locavores that desire to eat California-grown fruit as well as serious wine aficionados in search of German wines can be satisfied at Kudler. But the firm faces a wide array of competitors in all the fields in which it sells goods and services and may be insufficiently differentiated to establish a unique market niche.
Food...
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