Market Structure Essay

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Market Structure Peter Ferdinand Drucker says that “Marketing is so basic that it cannot be considered a separate function. It is the whole business seen from the customer’s point of view”. Being different from other forms of marketing, tourism marketing has been defined in multiple ways and extensively documented, but The American Marketing Association is the most concise, defining marketing in a very short phrase: “finding a customer need and filling it”.Within industrial economics, two main approaches have been used to examine the behavior and performance of firms in different types of markets. The first is the structure, conduct and performance (SCP) paradigm, which played a major role. The second approach, more recently, is game theory which is used to analyze the strategies that firms adopt in relation to the probable reactions of their competitors. Discussed more detailed, there are four types of market structures: perfect competition, monopolistic competition, monopoly and oligopoly. During the analysis of market structure of British Airways company, it can be observed how these market structure types are there mainly for the purposes of organization. The goal of this market analysis is to determine the attractiveness of a market structure and to understand its evolving opportunities and threats as they relate to the strengths and weaknesses of the firm. Nowadays travel and tourism is known as the biggest industry in the whole wide world and includes all about travelling to destination, accommodation at destination and recreation. From this reason marketing has a decisive role in British Airlines because it must concentrate on highlighting the product’s value having an overview of all services from the other sectors. Market is a place where also sellers and buyers come in contact with each other. If the market has many buyers, a

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