1. This is for a Masters Level Managerial Economics course. Here is the assignment and structure
provided by the instructor:
ECON600 Research Project
Intro: (Pricing strategy varies significantly across different market structures
. The pricing guidelines in a monopoly market
are relatively straightforward. Since the company is the only producer offering the product, it can mark-up the price as far as the customer can bear. The pricing strategies for a producer operating in a perfect competition structure
are also fairly intuitive. They are price takers, and hence price is set at the marginal cost of the product. This is due to the fact that there are many firms offering nearly identical products. However, there is optimal pricing for the market structures
offering differentiated products with many competitors (oligopoly) or a few producers (monopolistic competition). These are much more complex and involved. It has been stated that differentiation in products that creates differences in customer valuation is the most prevalent type of competition. In such markets
pricing strategies may include the three Cs of cost, competition, and customer. )
Assignment: Develop a paper detailing an analysis of market structures
and relating pricing strategies that are suitable for each of these structures
. Furthermore, include a real world example of optimal pricing strategy for a specific company by identifying its market structure
Your paper should be between 2500 and 4000 words, in APA Format and structured
1. Cover page with a running head
3. Introduction to market structures
3.1. Perfect competition
3.2. Monopolistic Competition
4. Pricing strategies as they are specifically related to each of the above market structures
5. Case Study
Here are my needs for this paper. Please make this paper aprox 2700 words - 9 pages. Choose a company for the case study that relatively well known. Include an abstract (not to exceed 120 words per APA format) and references/works cited section as mentioned below. Use at least 8 sources (one source must be the text book Managerial Economics, 6th ed, William, Samuelson, please cite this book three (3) times in the paper (Chapter 7,8,9 cover the market structures
perfect comp, monopoly, oligopoly, etc.). The sources should be credible publications such as New York Times Online, American Business Journal, etc.. (not Wikipedia). Please give real-world examples (i.e. Netflix, Starbucks, etc..) for all 4 of the pricing strategies as they relate to market structures
. One paragraph for each real-word example in this section should be enough. The case study should be approximately 1.5 to 3.0 pages and the case study company should be not a company mentioned elsewhere in the paper. I will use turnitin.com so the sources should not be more than 15 to 30% of the total paper- use a combination of quotations and paraphrasing. When citing a reference please incude the page number so I can find it. Also below is the grading rubric, please follow accordingly (I will send it to you as a resource since it did not copy well below.
The sources/references must be ONLINE sources, with a direct online link (they cannot be password required).
You can access the textbook, Managerial Economics, Samuleson at https://online.vitalsource.com/signin, email: firstname.lastname@example.org, password: dcdcdcdc1 . Thanks a lot, If u have any questions I will get back to u asap.
3. Here is the grading rubric provided by the instructor (i will send it as an attachment since it does not copy we here)
ECON 600 Research Project 1 Rubrics
Score Criterion Unsatisfactory Satisfactory Exceptional
15% Identification of Market Structures
Did not fully identified the market structure
Identified the industry structure
correctly. In addition to meeting the requirements of satisfactory, provided an analysis of each requirements i.e., number of firms, uniformity of products, ease of entry and exit.
35% Identification of Appropriate Pricing Strategies Did not identify appropriate pricing strategies. Identified all appropriate pricing strategies. In addition to identifying all appropriate pricing strategies provided a detailed analysis of which pricing strategies are appropriate to each market structures
15% Identification of Application of Pricing Strategies to market structures
Did not clearly identify appropriate applications of pricing strategies specifically related different market structures
. . Clearly identified appropriate applications of pricing strategies specifically related different market structures
. In addition to clearly identifying applications of pricing strategies specifically related different market structures
, developed a real-world example of such correlation between market structures
and pricing strategies.
10% Demonstrate Critical Thought in Analyzing Information Does not demonstrate critical thought in the analysis of the information, or analysis is disjointed Demonstrates critical thought in analyzing the information by presenting various perspectives on the concepts In addition to meeting requirements of satisfactory, synthesizes information across concepts effectively
10% Demonstrate Quality and Effectiveness in Written Communication Written communication is ineffective, with numerous spelling and grammatical errors or poorly constructed sentences Written communication is effective In addition to meeting the requirements of satisfactory, the paper is engaging to the reader with concise and clear communication
10% Adhere to APA Writing Style Requirements Numerous errors in format, style, or reference citation Few errors in format, style, or reference citation Virtually no errors in format, style, or reference citation
5% Citation Did not provide an appropriate citation. Provided an appropriate citation N/A
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Bennett, D., Hagiwara, Y., & Kitamura, M. (2011, September 5). Toyota Bets on Japan. Bloomberg Businessweek, pp. 70-73,. Retrieved from http://web.ebscohost.com/ehost/detail?sid=fbe40510-c02e-4a4c-afc8-b21dbb1445c3%40sessionmgr11&vid=1&hid=10&bdata=JnNpdGU9ZWhvc3QtbGl2ZQ%3d%3d#db=bth&AN=60477158
Cusumano, M.A. (2011). Technology Strategy and Management Reflections on the Toyota Debacle. Communications of the ACM, 54 (1), 33-35.
John Petersen (2011). Bernstein and Ricardo Report: Cheap Will Beat Cool in Vehicle Electrification. Retrieved from http://www.altenergystocks.com/archives/2011/11/bernstein_and_ricardo_report_cheap_will_beat_cool_in_vehicle_electrification.html
Lipsey, R.G., & Chrystal, K.A. (2007). Economics. Oxford: Oxford University Press. Retrieved from http://books.google.com.pk/books?id=HgXWV8JMC10C&printsec=frontcover&dq=Economics+lipsey&hl=en&sa=X&ei=qPIuT9DdPM7wrQeQ_LzYDA&redir_esc=y#v=onepage&q=Economics%20lipsey&f=false
Moffatt, M. (n.d.). Price Elasticity of Demand. Retrieved February 4, 2012, from About.com: http://economics.about.com/cs/micfrohelp/a/priceelasticity.htm
Ohnsman, A., Green, J., Inoue, K., Welch, D., Fisk, M.C., Levin, D., et al. (2010, March 22). The Humbling of Toyota. BusinessWeek, pp. 32-36. Retrieved from http://www.businessweek.com/magazine/content/10_12/b4171032583967.htm
Samuleson. (2010). Managerial Economics. New Baskerville: John Wiley & Sons.
Saporito, B., Schuman, M., Szczesny, J.R., & Altman, A. (2010, February 22). Toyota Tangled . Time, pp. 26-30. Retrieved from http://www.time.com/time/magazine/article/0,9171,1969287,00.html
Welch, D., Naughton, K., & Helm, B. (2010, Febraury 22). Detroit's Big Chance . BusinessWeek, pp. 38-44. Retrieved from http://www.businessweek.com/magazine/content/10_08/b4167038017102.htm
Wessels, W. (2000). Economics. New York: Barron's. Retrieved from: http://books.google.com.pk/books?id=Q5OfIb9LJQgC&printsec=frontcover&dq=economics&hl=en&sa=X&ei=r_AuT5fMM4bqrAes1LjyCw&ved=0CDQQ6AEwAA#v=onepage&q=economics&f=false