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Analysis Of Perfect Competition By Kristina For Urban Outfitters

615 Words3 Pages

The market described by Kristina for Urban Outfitters is “Perfect Competition” is definitely the right market. In this market a business will compete for attention of consumers, however; not one company dominates that market

Kristina provided a background in regards on how well the company can adapt to the changes in the economy reflecting elasticity in the product. In addition, she properly identified the market structure (Perfect Competition) Urban Outfitters would fall under

Keeping prices at a certain level and only offering discounts on black Friday, the day after Christmas assist to maintain revenues not necessarily to increase revenues

Offering the 2 for the price is a good way to bring customers, however; this is not something that …show more content…

With the pricing this is a tactic it would target only a certain group of people (mid to high paying individuals) and today even after the recession or still in the recession many people can’t afford to pay what Urban Outfitters is asking for their clothing. As shown on the income statement it was a lost for April 2014 5.5% versus 7.3% in 2013.

Because the company is part of a perfect competition this can set their own price allowing the company to target niches within the market. In addition, the strategy of layout is definitely a good way to influence customers to purchase those items that they didn’t think at the time of searching for their products

This was not address in the proposal. I would say because this is part of the perfect competition this market present very few, if any, barriers but the one barrier that I could see that it can come up is the price that is determined by the market and this does not have any leverage. For instance, if Urban Outfitters decides to increase their prices consumers do have the option to go to the nearest competitor to get a better price for the same or similar product. This would create that any other company that makes the decision to increase their prices they are going to lose market share as well as

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