Maket Structure-Micromax
MARKET STRUCTURES
What is a Market structure?
In economics Market structure is the way the market is organized , based largely on the number of firms in the industry, number of buyers and levels of competition , for example Monopoly, oligopoly , Perfect Competition. Monopolistic competition is the market structure is the market structure I am going to base this assignment on.
Monopolistic Competition
Monopolistic Competition is a type of imperfect competition such that producers sell products that are differentiated from one another as goods but not as perfect substitutes, they differ in terms of brand, quality, and location. In monopolistic competition a firm takes the prices charged by its rivals as given and ignores the impact of its own prices of other firms.
Monopolistic competition has the following Characteristics:-
• There are many producers and consumers in the market and no company has total control over the market price.
• There are very barriers in the entry & exit of firms.
• Producers have a degree of control over prices.
• There is product differentiation.
• Independent decision making.
Examples of Monopolistic competition:-
Firms involving the selling toothpastes, soaps, electronics, and automobiles are examples of monopolistic competition.
ANALYSIS OF A COMPANY IN MONOPOLISTIC COMPETITION
Company name: MICROMAX
About Micromax
Micromax is a consumer 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. It has 23 domestic offices as well as offices in Honk Kong, Dubai, USA and also employs over 1400 employees.Micromax is the 3rd largest handset manufacturer and the 12th largest manufacturer in the world. As of 2012 , Micromax leads the Indian tablet market with a share of 18.4% which is higher than even the likes of Apple and Samsung, it is also
What is a Market structure?
In economics Market structure is the way the market is organized , based largely on the number of firms in the industry, number of buyers and levels of competition , for example Monopoly, oligopoly , Perfect Competition. Monopolistic competition is the market structure is the market structure I am going to base this assignment on.
Monopolistic Competition
Monopolistic Competition is a type of imperfect competition such that producers sell products that are differentiated from one another as goods but not as perfect substitutes, they differ in terms of brand, quality, and location. In monopolistic competition a firm takes the prices charged by its rivals as given and ignores the impact of its own prices of other firms.
Monopolistic competition has the following Characteristics:-
• There are many producers and consumers in the market and no company has total control over the market price.
• There are very barriers in the entry & exit of firms.
• Producers have a degree of control over prices.
• There is product differentiation.
• Independent decision making.
Examples of Monopolistic competition:-
Firms involving the selling toothpastes, soaps, electronics, and automobiles are examples of monopolistic competition.
ANALYSIS OF A COMPANY IN MONOPOLISTIC COMPETITION
Company name: MICROMAX
About Micromax
Micromax is a consumer 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. It has 23 domestic offices as well as offices in Honk Kong, Dubai, USA and also employs over 1400 employees.Micromax is the 3rd largest handset manufacturer and the 12th largest manufacturer in the world. As of 2012 , Micromax leads the Indian tablet market with a share of 18.4% which is higher than even the likes of Apple and Samsung, it is also