Differentiating Between Market Structures Coursework

Differentiating Between securities industry Structures - Coursework ExampleIn such context, fast fodder outlets give be the best place to childs play a precooked burger and a hot beverage for the morning meal. With increasing consumption of fast food, the States is experiencing substantial growth in the industry. Market statistics indicate that this industry is likely to experience a get on hence its future prospects seem promising. Organizations in the Fast Food Industry In practical context, examples of accomplished organizations within the fast food industry include McDonalds, Burger King and Kentucky deep-fried yellow-bellied, among other companies. inside the essay, we will focus on Kentucky Fried Chicken, which features as one of the most successful business franchise in the world. Kentucky entered the industry, upon which it established itself as an icon in preparation and sale of cowardly products and other fast food items. It is known for its finger licking chicken a nd attracts a wide range of consumers into its outlets worldwide. Currently, the organization has franchises located in different geographical regions including China and Indian foodstuffs. With current increase in fast food consumption, Kentucky Fried Chicken is repositioning itself in the global market in order to reap maximum benefits. Within the American market and beyond, Kentucky is tied with other established fast food giants like McDonalds, Wendys and Burger King. ... r of buyers and sellers, level of competition, prospects of market entry and range of products and services offered to consumers within a given market segment. establish on these attributes, the four basic market structures include gross(a) competition, oligopoly, monopolistic competition and monopoly. Kentucky Fried chicken operates its business within a perfect competition environment. Characteristics of Perfect Competition From a theoretical perspective, perfect competition is sometimes referred to as pure competition. In ideal situation, pure competition is characterized by movement of numerous sellers all offering identical products and services to potential consumers. Because all products and services offered are identical, accordingly individually seller enjoys a proportionate share of the market. According to Colander (2010), scathes within such a market are not determined by a single seller. Rather, bell elasticity of consider is attributed to consumer preference based on merit of product and service offered by a given seller. Consequently, price of goods tend to be stable since no single seller had the economic influence to induce price dynamics. In this regard, consumers are protected from illegal pricing techniques since all sellers shall have to adhere to prevailing market regulations created by competition. In actual sense, perfect competition may not exist as ideally portrayed in theoretical constructs. However, typical characteristics of firms in practical business settings will place each organization under one of the market structures mentioned above. Marketing Structure of Kentucky Fried Chicken Kentucky Fried Chicken operates within an environment with infinite number of product sellers. Currently, there are thousands of fast food outlets crossways the world. Some of these