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Battery Retail Industry Case Study

1252 Words6 Pages

1. Introduction Hyderabad district has an area of 217Km2. Hyderabad district is considered to be a major center for manufacturing as well as retailing batteries. Batteries here do not apply to electrical ones. There are a wide range of batteries that are sold in the market depending upon the use. As we have entered the 21st century, technology has developed to a large extent and so has the battery industry. In such a developing and important market, it has become necessary to measure the competitiveness within the retail market in order to determine and manipulate market’s growth. The following research question and hypothesis have been developed in order to determine the competitiveness of the battery retail market in Hyderabad district in a …show more content…

3. Realism of the Market Theory Before learning about the theory of a perfectly competitive market, it is necessary for us to understand that to what extent the theory is real. Only a few small local markets close to the perfectly competition market theory but is not possible in a larger market. Examples includes local fish, wheat and other markets. But economists observed that some large industries and markets were described more accurately by the model of perfect competition than by any other type of market structure. 4. Theory of perfectly competitive market While devising market structures, economists developed a model referred to as the Theory of Perfect Competition. While analysing a particular industry, economists make use of the theory by comparing and contrasting the features of the real world industry to the theoretical model of perfect competition. The same type of method is used thoroughly in the essay to analyse and answer the Research Question. The criterions, on which the theory of perfect competition is based includes: 1. Homogenous Products 2. Many Buyers and

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