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In Todays World

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Submitted By annetra
Words 1414
Pages 6
In today's world technology continues to advance at an alarming rate, which means consumers can now obtain his or her favorite reading material within a click of a button. Through advancement of technology, it has not only help to keep the cost of production down, but also lower the amount that it will take to print and ship materials to stores or consumers' homes. Although a technology continues to increase on larger levels, consumers are still enjoying it literacy within the computer realm. The focus of this proposal paper is to analyze Will Bury invention for the digitized program which allows readers to read on heighten levels. The paper will also identify the market structure, elasticity of the product marginal cost and marginal revenue, mixing prices and non-pricing strategies. Will Bury Invention
Entrepreneur Will Bury is an inventor who has dreams of expanding his invention to a wider domain, however order to accomplish this a change in his current business structure will have to take place. The type of changes that MR. Bury has considered implementing is adding staff and providing a workable environment to continue to invent the latest digitalize program. Research reveals that when changes such as this take place, it can help to improve consumer satisfaction, increase work productivity, increase quality and lower cost. Therefore, if Mr. Bury chooses to implement this changes it will not only provide improvement within his product, but also the longevity within a competitive market
Identifying the Market Structure
The type of market that Mr. Bury operates within is an monopolistic structure which is define as "relatively large number of sellers producing a differentiated products" (McConnell, Brue &Flynn, 2009, p.277). Mr. Bury product falls within the category of a non-price

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