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Submitted by pegster1958 on February 7, 2007
Category: Business
Words: 2234 | Pages: 9
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Introduction
The United States economic market can be divided into four market structures; pure monopoly, oligopoly, monopolistic competition, and pure competition. While each of these market structures represents a generic portrayal of the market, each can be used to explain and predict market outcomes through a study of the competition within the market. We will review and identify both pricing and non-pricing strategies used by a specific company within each of the four market structures to distinguish themselves from competitors.
In addition, we will follow a fictional company as it progresses through each of the above market structures during its lifecycle. This demonstration shows how decisions made by this company change as the competition within the marketplace changes.
Industrial Organization
Monopoly: Microsoft Corporation
Microsoft Corporation is one of the world’s largest computer technology companies, with annual revenue of $44.28 billion (Wikipedia). This corporation holds more than 90% of the market share and continues to dominate the operating systems industry (Moore, 1999) which indicates a strong monopolistic power within the computer technology industry. However, because Brue and McConnell (2005) describe a pure monopoly as “when a single firm is the sole producer of a product for which there are no close substitutes,” Microsoft Corporation’s power can be regarded as a near monopoly since it is the sole provider of operating systems.
Microsoft controls the prices of products by using price-making strategies as opposed to price-taking. This can be seen when competition arises and the company prices its products aggressively and competitively (Rothfeder, 1999). Microsoft uses other methods of price control including charging PC manufacturers different prices for its software depending on whether the companies comply with expectations that Microsoft’s operating system be pre-installed on the...
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