Question

Examine a representative array of high tech firm in the United States. Discuss / analyze their practices and their strategies. See if their activities contributes to the enchancement of competitive practices or if their behavior emulate imperfect market. ( In answering the question you MUST provide pertinent data and statistic to substantiate your statements ).

Answer 1

Some of top notch high tech companies like Verizon is known for offering innovative technology solutions like Internet of Things to businesses. The market faces stiff competition from top players like Vodafone, AT&T, Sprint, Tmobile, Telstra across the globe. The strategy is to attract maximum customer and penetrate untapped markets with competitive pricing. The market thus is competitive and has no monopoly powers.

The telecommunications sector is purely Oligopolistic with high entry barriers and high capital expenditure.

The market share in terms of revenues is evenly distributed and contributes 4% of Us GDP and has revenues potential of 1 trilliin dollars by 2022 as per Mckinsey reports .