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Differentiating Between Market Structures
Angela Graham
ECO/365
January 6, 2015
Biagio Vultaggio

Differentiating Between Market Structures
The hospitality industry has always been above and beyond for excellence. In today’s hospitality industry, the competitive structure is not so much aggressive but more unique with tactics. Every company tries to one up the next person by using creative approaches to intrigue each consumer when they are on vacation. Since we do live in Vegas, how does that work? Every structure is owned by this guy or that guy, and that’s where loyalty comes into play. My job, Hard Rock Café has everything possible for an independent company. Hard Rock Café continues to grow and flourish without changing the purpose of the café, “To create the spirit of rock and roll by using innovation” (Hard Rock Cafe', 2015 ).
The market structure for the café is based on music, and the lovers of music. In 1971 Isaac Tigrett and Peter Morton wanted to create a place with Americana vibes and food. The music came later on when artists like Eric Clapton and Paul McCartney would come out and eat hamburgers after shows. Today the café does have similar companies like Planet Hollywood and Harley Davidson Café trying to fill the shoes of the original, but nothing replaces Hard Rock Café. By creating this original idea, others used the same marketing techniques but with different perspectives such as movies, TV, and automobiles. This has always been a natural competition, but how it competes with other hospitality companies is the flexibility of creating new hotels, cafes’ and venues. And if I am not mistaken Hard Rock Café would be built on a perfect competition market.
A perfect market completion market is defined as, “Perfect competition is characterized by many buyers and sellers, many products that are similar in nature and, as a result, many

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