Business Proposal Paper

2123 Words Feb 12th, 2015 9 Pages
Business Proposal Paper Lucionda Garnett ECON/561 October 22, 2014 Mr. David Grier

Introduction
In today’s society, it is imperative that businesses adopt an efficient and effective strategy, in order to stay ahead in this persistently fluctuating professional world. Every business should have an approach that will align with the shifting economy to sustain or even gain more business. The result of an ineffective approach may result in the loss of customers, profits, and consequently the demise of the
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The market structure is basically the gathering of elements that regulate how consumers and suppliers cooperate in a market, how costs fluctuate, and how diverse altitudes of the assembly and marketing methods work together. The specific types of market structure include perfect competition, monopolies, oligopolies, and monopsony (McConnell, Brue, & Flynn, 2009).
Verizon Wireless is a highly established, and widely recognized business that offers dynamic communication services that are utilized in most homes all over the world. The market structure that Verizon Wireless currently maneuvers in, in my opinion would have to be the oligopoly. This is simply because of the scarce competition in this particular sector of the communications industry. Although every establishment in this market all produce wireless telecommunication products, all enterprises has its own individual system. Majority of the customers who have these amenities could distinguish each business from its trademark and service. In this oligopoly market, this is a strong indication that each service provider produce a slightly different product. According to the data from Yankee Group Research, Inc., the following figure shows the wireless service provider market share of June 2011 in the Top U.S. cellular market areas (Wang, G, 2011).

The oligopoly market

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