Identify the market structure in which Beats mobile Headphones comp...

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QuestionQuestion

Identify the market structure in which Beats mobile Headphones compete.
Clearly indicate why the market structure was decided upon and how this market structure differentiates from the other alternatives.
Identify three or more competitive strategies of your choice that may be used by the organization to maximize its profits over the long run.
Evaluate the effectiveness of these strategies in the market structure you identified. Consider the following:
Expected changes in supply and demand
Price elasticity of demand
Market structure
Government regulations
400-600 words
Cite a minimum of 2 peer reviewed sources.
Format consistent with APA guidelines.

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Beats mobile headphones is the organisation that competes with traditional companies like Phillips, JVC, Sony and all these companies account for nearly more than 40% and Beats headphones account for nearly 20% of the world market in headphones. However the headphones market is a highly competitive market and belongs to the market structure of monopolistic competition (Futuresource, 2013). Monopolistic competition differs from other market structures like perfect competition and monopoly in that it is not the price taker or a firm that sells homogenous products as in perfect competition, nor is it a single seller of headphones in the world market...

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