It is important to understand what market structure a company resides in because different market structures have different rules for competitors and customers.
Understanding market structures means that you can make more effective decisions based on the impact of the company's motivations, opportunities, and the decisions made by other participants in that market.
With this in mind, please answer the following:
- Choose 1 market structure you did not discuss in the previous week's Individual Project. Discuss the characteristics of that market structure.
- Identify 1 company that operates within that market structure. Discuss the company's products, services, and competitors.
- How does the competitive environment influence company leaders' decisions? Illustrate your thinking with examples of potential decisions.