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Business Notes – Business Assignment
on Business Market Structure and
Communication
Subject (Business)
This is a comprehensive summary note focuses on the
business market structure and the different types of buyers and
sellers related to the sale of a given product or service and
their bargaining power. It presents the structure of the market
and the elements that determine the price and the amount that
will end up being trade. These notes present the result of a
short investigative exercise exploring the microeconomic
factors affecting businesses in a business environment.
By reading these notes, it will help students to be able to
identify different market structures and how they work. In
addition, students will also learn about the various methods of
business communication and how to effectively use them. This
will allow them to better understand the needs of their
customers and clients, and ultimately help them to succeed in
business.
Business Market Structure and Communication
Table of Contents
This is a comprehensive summary note focuses on the business market structure and the different types of buyers and sellers related to the sale of a given product or service and their bargaining power. It presents the structure of the market and the elements that determine the price and the amount that will end up being trade. These notes present the result of a short investigative exercise exploring the microeconomic factors affecting businesses in a business environment............................................... 1
- Introduction................................................................................................................ 2
- Procedures................................................................................................................ 2
- Findings..................................................................................................................... 4 3.1 Brief introduction to the organization....................................................................... 4 3.2 The organization’s strategy statement for customer care....................................... 5 3.3. Details of the system, standards, and staff standards........................................... 5 3.4 Collection, storage, and usage of customer feedback............................................ 6 3.5 An evaluation of the customer care strategy........................................................... 6
- Conclusion................................................................................................................. 6
- Recommendations..................................................................................................... 6
- References................................................................................................................ 7
1. Introduction
The Market structure describes the characteristics of markets based on the buyers and sellers, service, or the industry. The market structure is considered to be the different types of buyers and sellers related to the sale of a given product or service and their bargaining power (Vagliasindi & Besant-Jones, 2013). This report presents the result of a short investigative exercise exploring the microeconomic factors affecting businesses in a business environment. The report's rationale is to examine how the firms operate and analyse the impacts of economic factors such as business communication.
2. Procedures
In this procedure, we want to examine the characteristics of a market structure based on a practical exploration and the level of communication used in forms. The procedure involves examining the properties of the market structure to determine which business communication is presented (Shubik & Levitan, 2013). The practice is conducted in the electronic market through the administration of questionnaires and the collection of data. The data is then analysed, and the market structure is determined based on the data. Under the theory of the firm, also theory of the company or theory of the firm, one understands different models, which try to explain the company, its emergence and function
The average total cost is the sum of all all production costs over the total output quantity. This is the sum of all variable and fixed costs, divided by the sum of units produced. The following diagram represents the three costs as used to explain the cost-quantity model of a firm;
3. Findings
The finding established various business communication models based on the characteristics gathered. Business communication can take the form of oral interaction through conversations and meetings, whether in person, online or over the phone (Veltsos, 2017). It can also be done through written documents such as emails, marketing materials, websites, social media posts, blogs, reports, and proposals. 3.1 Brief introduction to the organization The business examined in this report is Apple which exhibits the characteristics of a Monopoly. This is an American multinational company that specializes in consumer electronics (Green, 2015). The business is characterized because there are several buyers but
only one seller who has greater bargaining power. Through targeted marketing communication strategies, Apple has managed to become known as an innovative company and as a global player in binding customers to the company. 3.2 The organization’s strategy statement for customer care Good communication helps you get more opportunities. We are going to examine how businesses can improve communication in any situation, as well as strategies that will help you increase your effectiveness in different areas. Apple's marketing strategy can be analysed using the marketing mix model, according to Jerome McCarthy (Johnson et al., 2012). This can be done by analysing the four instruments of the marketing mix presented: production policy, price policy, distribution policy, and communication policy. Given these conditions, Apple Competitors seek to differentiate themselves (Linzmeyer, 2004). Businesses communicate in different ways throughout the day; there are many ways to do it (Waldeck et al., 2012). Business communication is defined as the way of interacting, spoken or written, between the people who make up the company and is classified as internal communication and external communication of the organization (Thill et al., 2013). 3.3. Details of the system, standards, and staff standards With more than 500 Apple retail stores and 137,000 employees, Apple Inc. is one of the world's top-selling companies, with annual sales of approximately USD 265 billion. Today, Apple is one of the most innovative, powerful, and well-known companies in the world, whose products have shaped communication and entertainment technology like no other. It is obvious that communication in the workplace must be very active and fluid, I have had the opportunity to work in different environments and business sectors, and in most companies or sectors, this is difficult because each sector has its own jargon way of communicating within the departments, environment.
Particular attention should be paid to the timing of the release of the products, their sales trends, and competitors.
6. References
Johnson, K., Li, Y., Phan, H., Singer, J., & Trinh, H. (2012). The Innovative Success that is Apple, Inc. Green, S. (2015). Apple. Bellwether Media. Linzmayer, O. W. (2004). Apple confidential 2.0: The definitive history of the world's most colorful company. No starch press. Shubik, M., & Levitan, R. (2013). Market structure and behavior. In Market Structure and Behavior. Harvard University Press. Vagliasindi, M., & Besant-Jones, J. (2013). Power market structure: revisiting policy options. World Bank Publications. Guffey, M. E., & Loewy, D. (2014). Business communication: Process and product. Cengage Learning. Thill, J. V., Bovée, C. L., & Cross, A. (2013). Excellence in business communication (p. 672). New York: Pearson. Waldeck, J., Durante, C., Helmuth, B., & Marcia, B. (2012). Communication in a changing world: Contemporary perspectives on business communication competence. Journal of Education for Business, 87(4), 230-240. Veltsos, J. R. (2017). Gamification in the business communication course. Business and Professional Communication Quarterly, 80(2), 194-216.
