| Pure Competition Essay Good thesis writing Essay done for you

Pure competition a market characterized many independent firms. The natures of products sold in this are identical. There are many independent sellers in the industry. There are barriers to the businesses one can enter and exit at will. Firms operating in this market structure have no control over the prices of their products. Profits in pure completion are extremely minimal. Firms have to adopt unique marketing strategies in order to make profits. The product and their prices are perfectly known by consumers. Any slight adjustment in prices is easily noticed by buyers. Transaction costs are minimal meaning that sellers and consumers incur limited costs through exchange. There is a perfect factor mobility pure competition market structure. This means that the means of production perfectly adjustable leading to free long term adjustments to alternating market conditions (O’Brien, & Hubbard, 365).

Skechers’ Market Structure

Skechers is a shoe company based in the based, in Manhattan Beach, California united states. The company was started in 1992. The company is a renowned shoe manufacturer mainly focusing on sports footwear. Skachers is one of the successful shoemakers in the United States. Currently it is among the fastest growing shoe companies in America. Instead, of influencing the company, skachers attracted a unique marketing strategy choosing to concentrate on other trends. The company launched Casual and hype fashions primarily targeting the youth. Skachers designs and sales close to 2000 diverse styles of footwear. I think the company’s market structure played a crucial role in its growth (O’Brien, & Hubbard, 365).

Skechers operates in an environment that has many buyers and sellers. The company did not experience barriers when entering the business. In this industry, there are many other companies engage in the business of manufacturing and selling shoes with each having a limited impact on the total market out put and market price. Skechers sells products that are homogenous in nature making the company passive in price control matters. This situation is typical in pure competition. Firms that operate in this market structure have no power of price matters because the consumer already knows the price. Similarly, consumers have perfect knowledge concerning prices. Products from competing firms can access the market without any extra costs.

Pure Competition in the Shoes Industry

Pure competition exists in the industry of manufacturing and selling shoes. There are no barriers for any firm to enter the business and leave. The natures of products in this business are identical. It is not easy for firms to make massive profits in this market structure. Firms in this market structure need to adopt other factors to attain a competitive advantage.

Comparative advantage essentially means that a company or organization, for that matter, has the potential to manufacture products at a lower cost and more efficiently. This situation comes about because of other factors. For instance, skachers have an upper hand in production and distribution of footwear compared to its competitors. That is why since its inception, the company has been always expanding irrespective of the circumstances. Sketchers has decided to zero in on the manufacture and distribution business. Businesses should focus on areas that they have more advantages than disadvantages. That way, the business would be able to survive competition. In order for businesses to boost their comparative advantage, they need to reduce cost of production and boost revenue at the same time.

Consumer preferences are significant in any business. Consumer like or dislike can break or make a business. For some unclear reasons, consumers may just decide to stick to products from a manufacturer for no apparent reason. For example, in this case, most people in America prefer schools made by sketchers. Among many brands that are on the market, most people still prefer to wear footwear from skechers despite the fact that there are other brands available. This trend is common among consumers. Like in the motor industry, most people prefer to buy a white car than other colors. For some reasons, people are more comfortable driving in a white vehicle. Consumer preference is tricky. Businesses need to carryout extensive research about consumer preference before storming into the market. Skechers might have done some noble research about consumer preference before launching the brand (O’Brien, & Hubbard, 367).

Pure competition is common in circumstances where the markets and its competitions are common. In pure competitive markets, both producers and consumers are many. The purchasing tastes of consumers are clearly demonstrated in monopolistically competitive markets. Such markets are quiet challenging on the part of businesses. Like in the case of skachers, the shoe manufactured had to skillfully distinguished their products from others. Skachers has many brands, but they have perfected in setting their products a part in order to gain competitive advantage.

Type of assignmentWriter levelTitle of your paperPages
Essay Term paper Coursework Research paper Research proposal Grant Proposal Case Study Case Brief Discussion Board Post Reaction paper Response paper Literary analysis Article Review Article Critique Movie Review Movie Critique Book Report Book Review Synopsis Poem Letter Motivation letter Memo Scholarship essay Article writing Blog Article Annotated Bibliography Literature Review Outline Online Test Questions-Answers Multiple Choice Questions Interview Questionnaire Speech Dissertation Dissertation chapter – Abstract Dissertation chapter – Introduction Dissertation chapter – Hypothesis Dissertation chapter – Literature review Dissertation chapter – Methodology Dissertation chapter – Results Dissertation chapter – Discussion Dissertation chapter – Conclusion Thesis Thesis Proposal Thesis/dissertation chapter Capstone Project IB Extended Essay Lab Report Business Report Business plan Marketing Plan White paper Formatting Editing Proofreading Rewriting Revision Powerpoint Presentation Powerpoint Presentation Poster PDF Poster Excel Exercises High School College University Master’s PHD 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 48 49 50 51 52 53 54 55 56 57 58 59 60 61 62 63 64 65 66 67 68 69 70 71 72 73 74 75 76 77 78 79 80 81 82 83 84 85 86 87 88 89 90 91 92 93 94 95 96 97 98 99 100 101 102 103 104 105 106 107 108 109 110 111 112 113 114 115 116 117 118 119 120 121 122 123 124 125 126 127 128 129 130 131 132 133 134 135 136 137 138 139 140 141 142 143 144 145 146 147 148 149 150 151 152 153 154 155 156 157 158 159 160 161 162 163 164 165 166 167 168 169 170 171 172 173 174 175 176 177 178 179 180 181 182 183 184 185 186 187 188 189 190 191 192 193 194 195 196 197 198 199 200 201 202 203 204 205 206 207 208 209 210 211 212 213 214 215 216 217 218 219 220 221 222 223 224 225 226 227 228 229 230 231 232 233 234 235 236 237 238 239 240 241 242 243 244 245 246 247 248 249 250 251 252 253 254 255 256 257 258 259 260 261 262 263 264 265 266 267 268 269 270 271 272 273 274 275 276 277 278 279 280 281 282 283 284 285 286 287 288 289 290 291 292 293 294 295 296 297 298 299 300 301 302 303 304 305 306 307 308 309 310 311 312 313 314 315 316 317 318 319 320 321 322 323 324 325 326 327 328 329 330 331 332 333 334 335 336 337 338 339 340 341 342 343 344 345 346 347 348 349 350 351 352 353 354 355 356 357 358 359 360 361 362 363 364 365 366 367 368 369 370 371 372 373 374 375 376 377 378 379 380 381 382 383 384 385 386 387 388 389 390 391 392 393 394 395 396 397 398 399 400 401 402 403 404 405 406 407 408 409 410 411 412 413 414 415 416 417 418 419 420 421 422 423 424 425 426 427 428 429 430 431 432 433 434 435 436 437 438 439 440 441 442 443 444 445 446 447 448 449 450 451 452 453 454 455 456 457 458 459 460 461 462 463 464 465 466 467 468 469 470 471 472 473 474 475 476 477 478 479 480 481 482 483 484 485 486 487 488 489 490 491 492 493 494 495 496 497 498 499 500
SpacingTimeframesCurrencyTotal price
Single spaced Double spaced 11 days 9 days 7 days 5 days 4 days 3 days 48 hours 24 hours 12 hours 8 hours 6 hours 3 hours USD EUR GBP AUD

Under pure competition, markets are heterogeneous in nature. Entry and exit in such a market is subject to other conditions. Surviving in monopolistically competitive market is tricky. Businesses need to explore other ways to survive. Skachers knew this earlier that is why the market tilts in their favor year in year out. In the shoe industry, there is a rise in non-price competitions the market is at equilibrium. Skachers had to use non-price tactics like increasing their stores to boost their revenue. Pure competition is common in circumstances where the markets and its competitions are common. In this market structure, both producers and consumers are many. The purchasing tastes of consumers are clearly demonstrated in pure competitive markets. Such markets are challenging on the part of businesses. Like in the case of skechers, the company had to distinguish skillfully its products from those of other firms. The company brought unique tests in the market. This is what gave the company a competitive advantage. Their unique branding impressed many consumers across the United States (O’Brien, & Hubbard, 368).

Comparative advantage essentially means that a company or organization for that matter has the potential to manufacture products at a lower cost and more efficiently. This situation comes about because of other factors. For instance, in this scenario skachers have an upper hand in manufacturing and distributing shoes compared to its competitors in the business. That is why since its inception, the company has been always expanding irrespective of the circumstances. Skachers have decided to zero in on shoes manufacture and distribution business. Businesses should focus on areas that they have more advantages than disadvantages. That way, the business would be able to survive competition. In order for businesses to boost their comparative advantage, they need to reduce cost of production and boost revenue at the same time.

Businesses operating in pure market structures rely on other marketing techniques to gain market dominance in the industry. This is because it is difficulty for consumers to distinguish products and prices are determined by market forces. Firms are forced to focus on what they can produce quickly and cheaply in order to attain a comparative advantage. Sketchers adopted a unique marketing approach that gave it an upper hand in the market. They creatively segmented their products according to consumer demands with priority being given to sports shoes. Firms in pure competition have limited powers in setting the price of their products. They have to use other marketing strategies to stay ahead of the competition.

Works cited
O’Brien, Anthony. & Hubbard, Glenn. Microeconomics: third edition. Prentice Hall publishers. Boston: Miami. 2009. Print.
Tucker, Irvin. Microeconomics for Today. Cengege learning. New York. 2008. Print