Differentiating Between Market Structures Evangelista Hernandez University Of Phoenix ECO/365 Professor Michael Polakaff September 17, 2014 Abstract In this paper the writer will discuss the strategies companies will use in order to be competitive in the market and stay as the number one in the industry. The writer has chosen to discuss how Harts Local Grocers, can be competitive and still provide low cost and organic foods to the community in comparison with larger grocery stores, such as Wal-Marts. Differentiating Between Market Structures Competitive strategies allows business to be able to sell and produce goods more easily and effectively than any other business. Business will commonly develop strategies in order to maintain a competitive advantage. Having flexibility is an important feature to have when implementing business strategies (Vitez, 2014). Strategies Cost of leadership, is a …show more content…
• Oligopoly: Several large companies that have some type of control with their price. • Monopoly: single Company with control over all prices. • Monopsony: single buyer with considerable control over the demand and the prices. Industry- Harts Local Grocers- Wal-Mart Harts Local Grocers, began by Glenn Kellogg, urban economic developer who at the time resided in Washington, DC with his wife who grew up in Rochester, NY. Kellogg, who studied in many different cities across the United States, was looking for a city that offered the right mix, as well as cultural spark. In 2012 Kellogg drafted a business plan the task they faced was to be able and launch a city market where the perfect combination of local food, regional cuisines and daily grocery needs. Mr. Kellogg studied the demographics of the community prior to launching his plan. Harts Local Grocers, market structure would fall under an oligopoly structure, even though there is only one location in Rochester,