Question 3
The retail industry in Singapore consists of several large retailers, such as Giant, NTUC Fairprice and Metro in prominent locations, and thousands of small neighbourhood retailers scattered all over Singapore. Nowadays more internet retailers also enter the retail market to compete with brick and mortar retailers. Competition is very keen and many small retailers have ceased operations. While large retailers often seem to be able to survive better than the small retailers, large retailers have also exited the market from time to time.
(a) Describe the differences in the cost structure of larger versus small retailers in Singapore in a market for a well-defined good (or category of goods). Conduct research into the reasons for these differences in cost structure, and the role that these differences play in explaining why large retailers tend to have competitive advantages. Be sure to name specific examples of the larger and smaller retailers you discuss. (12 marks)
(b) Explain and discuss the market structure of the industry you are examining. Is the market structure closer to that of perfect competition or to monopoly, and why? (8 marks)
(c) From the perspective of the long run market equilibrium, what are the prospects for whether small retailers can continue to exist in the market you are examining? Explain and support your answers with suitable real life illustrations. (10 marks)
Looking for Plagiarism free Answers for your college/ university Assignments.
- AVET104 Journey Through the Cell Assignment: A Molecular Adventure into Life’s Inner Workings
- Workplace Risk-Based Assessment 1: Evaluation of Hazards, Accidents, and Safety Compliance
- SRM Reflective Assignment 2: Applying Gibbs Model to Overcome Workplace Report Challenges
- ACLP M1P TAE Written Assignment: Skills Framework & Lesson Plan Design Using Gagne’s and Kolb’s Models
- EGH222 Healthcare Analytics Assignment 2: Predictive Model for Sick Days Based on Employee Demographics and Lifestyle Data
- Sustainability Strategy Assignment: Selected Company Case Study on Addressing Sector Challenges and Driving Behavioural Change Campaigns
- 7WBS2012 Executive Career Development Assignment: Career Pathway & Readiness Post-MBA in Education Management
- CVE2322 Gantry Build Prototype Assignment: Sustainable Civil Engineering Model Using Recyclable Materials
- BMG706 Strategic Quality Change Assignment Report: Enhancing Operational Excellence at any Organization
- CVE2323 Structural Analysis Assignment: Matrix Method & STAAD.Pro Evaluation of Frame Systems