Market Structures in Sony Corporation Essay Example | Topics and Well Written Essays - 1000 words

Market Structures in Sony Corporation - Essay ExampleThe organization has gained recognition throughout the world following its high awareness of products to the customers. Electronics devices manufacturers such as Sony corporation offer unique quality of various television sets, music systems, and laptops and computers that appeal the customers hence, with the effectual update in technology, management style, the market plan strategies towards existing competition and the corporate goals ensures that the organization is successful and distinguish the company from opposite similar militant companies. The process of determining a market structure comprises the research on the rival companies by efficiently exploring their differences and relationships. The features of the market structure affect the routine of the backup in the specific market, which has to be appealing to the customers look ats. There are different market structures used by various organizations, which are found on the tot of business participants in the industry and the extent of market control of the involved participants. The market structures include monopolistic competition, perfect competition, and oligopoly and monopoly market structures (OConnor, 2004). The prime(prenominal) of the market structures in an organization depends on the different characteristics of each type as explained below. The products produced by each of the business are similar to each other hence, this gives the traffickers and buyers the full impropriety of joining or leaving the organization options.... The products produced by each of the business are similar to each other hence, this gives the sellers and buyers the full liberty of joining or leaving the organization. In addition, the buyers and sellers are aware of the prices and technology in use despite the product being produced by a number of companies. Practically, perfect competition does not exist but only forms a benchmark used in the analysis of the real world market structures. The equalization of price and marginal cost through the exchange of quantity goods contributes to efficient allocation of resources (OConnor, 2004). Monopoly Market Structure Monopoly market structure has a single seller and competitor, who control the supply side of the market. The product sold is unique with no similar substitutes. The demand of the monopoly product translates directly to the market demand hence the need of government regulation because of the insufficiency on market selling side. Monopolistic Competition The feature that distinguishes monopolistic market structure from others is the fact that it has a extended number of relatively small competitors with each having a modest degree to control the market on the supply side. The products in the market are come together for each firm but are not identical in terms of the production technology involved. Consequently, this structure diversifies the needs of the consumer. Oligopol y Market Structure A small number of comparatively large competitors with each having a considerable market control characterize the oligopoly market structure. Sellers under oligopoly have interdependent decision-making lead story to high competition, which necessities the cooperation through collusion and mergers. The