Market Structure Assignment

Market Structure Assignment
Market Structure Assignment: The Market Structure assignment is part of a series of assignments designed to enhance students? knowledge and skills in integration and implementation of a business plan during their four years undergraduate business program.

The specific objective of the Critical Assignment of BUS 180 is to enhance students? knowledge and skills in evaluating and assessing the market structure for a start up business that they will develop. This exercise will provide the students with the opportunity of integration and implementation of theory to practice and will prepare them in development of a comprehensive business plan during their senior year in the capstone course.

In BUS 180, each student will experience creating a start- up business to produce a specific product (a good or service). A three to five (3-5) page written research paper on the start- up business, the product and the market structure of the industry is required. The paper needs to present sections on the product information, this may be a good (tangible product) or a service (intangible product); the four stages of the product life cycle, including the current stage; and the initial and potential scope of the market in which the product will be supplied.

In addition, the written paper should have sections on the degree of the existing competition and the characteristics of the rival producers/organizations; the characteristics of the buyers and the potential demand for the product; and the strategy of the start- up business for pricing, production and maintaining it?s competitive advantage. Finally, a critical analysis of the findings and conclusion and the implications for the start-up business need to be addressed in the paper.

More specifically, each student should follow the following guidelines in writing the research paper:
a. Specifically identify the product, it?s life cycle and the initial and future scope of the market (local, national, international/global) intend to serve.
b. Recognize and evaluate the market structure, degree of competition and the availability of substitutes initially and in the future, locally and globally for the proposed product.
c. Identify the various barriers to entry to the market structure in which the proposed business will compete. Identify the entry strategy and the application of economies of scale for the proposed business.
d. Evaluate and specify the potential demand and buyers of the proposed product.
e. Identify the degree of price, income and cross elasticity of demand for the proposed product and their influence on the various pricing and production strategies of the proposed business.
f. Specifically describe the competitors and evaluate the strategies to maintain the competitive advantage of the proposed business in the market.
g. Critically evaluate the current and future industry trend for the proposed business.