All organizations belong to one of four different market structures; perfect competition, monopoly, monopolistic competition and oligopoly. The market structure in which an organization is grouped is based on characteristics such as competition, products, and ease of market entry. Powerlifting is a specialized sport with only a few companies selling the custom equipment required. Titan is one of the companies that sell powerlifting equipment. The following paragraphs will identify which market structure Titan belongs to and how that market structure compares to others, identify three competitive strategies for Titan, evaluate competitive strategies within Titan's market structure, and make recommendations on how Titan can maximize its profits. is a specialized way of lifting weights. One of the companies that provides the necessary equipment for the sport is Titan. Titan falls into the oligopolistic market structure. A limited number of companies and each company using the decisions made by other companies to make their decisions characterizes an oligopoly (Colander, 2010). The International Powerlifting Federation, also known as the IPF, must approve equipment during a powerlifting competition. There are only eight companies approved by the IPF and five of them only for knee pads. There are only three companies licensed to sell squat, deadlift, and powerlifting suits, and one of them is Titan (International Powerlifting Federation, 2013). Since there are a small number of IPF-approved companies and companies pay close attention to what others are doing when making decisions, oligopoly best describes Titan. Monopolistic competition, monopoly and perfect competition, Titan qualifies a...... middle of paper ......rs and their equipment needs and adapt to the oligopolistic market structure. Titan would benefit from a few competitive strategies that would give it a greater competitive advantage in the market. Regardless of the market structure a company is in, it will benefit from pursuing competitive strategies to increase its profit margin and become a more efficient business. References Colander, DC (2010). Economics (8th ed.). Retrieved from the University of Phoenix eBook Collection Database. International Powerlifting Federation. (November 21, 2013). Approved list of clothing and equipment to be used in IPF sanctioned competitions. Retrieved from http://www.powerlifting-ipf.com/17.html Thompson, A., Peteraf, M., Gamble, J., & Strickland, A. (2011). Strategy Development and Execution: The Quest for Competitive Advantage: Concepts and Cases (18th ed.). New York, NY: Mcgraw-hill/irwin.