Funeral Home Analysis
However, I do recall that some things needed for funeral arrangements incur some additional costs in addition to the funeral package prices. So, that is something to factor in also when deciding on which funeral home to use. Personally, I know that when we had my grandmother 's funeral she specified way in advance of her death which funeral home she wanted to handle her arrangements. Therefore, we did not tend to look around very much for other options. All the more, we knew there were more than one option in which could have been chosen but her decision was based on longevity in the business, how the deceased looked, cost, and the fact that the funeral home in which was chosen was highly reputable and went over and above to help the families during the time in which decisions were quite cloudy and inconsistent. So, I truly believe that your company is a perfect competitive market because essentially mainly all funeral homes employ many of the same packages around the same prices. However, many just choose one based on familiarity or from what they have seen or heard about the …show more content…
In my opinion, I believe that many consumers look at small details such as this in making decisions as to what funeral home to utilize. Even though they all generally provide the same type of services, I agree some do provide services that help them to stand out and be noticed by consumers.
Likewise, your company would fall into the perfect competitive market because I believe they do make up the 3 vital characteristics that define what is considered perfect competition. Funeral homes are price- takers, they all mainly offer a homogeneous product or service, and the entry and exit into the market are unrestricted (Thomas & Maurice,