Ansorena Case Study

Identify the firm's competitors and the market in which the firm operates. You could think of drawing a map where you would locate the firm's competitors. Explain the process you followed to reach your conclusions.

Ansorena is a company who has a long tradition of working in art market. Art gallery Ansorena was opened in 1845. There celebrated art exposition of young artist and featured artist as well. Moreover, Ansorena is an auctioneer of fine and decorative art, jewelry and collective, and also it is possible buy drawn, furniture, and jewelries. The market of art is the sole mechanism for conferring value onto art and antiques. It is imperfect and difficult to access, consisting of thousand of élite, specialist retailers, proportion of who receive support government. [ Understanding International art Markets and Management. Routledge 2005 p. 13] The firm's competitors offer the same or similar items for sale as Ansorena do. The Ansorena's competitors are located around the center of Madrid and Salamanca, these places attract artist, attention and demand. We identify few competitors around this zone. (See appendix 1)

Identify the market structure. Justify.

The art market today is not efficient comparing it to an almost efficient market. The market takes on the market monopolistic supply competitor, there is no real transparency. It is thus imperfect and difficult to access. There are various players such as many producers and many consumers that are involved in the market. The market is perceived as glamorous and exciting, reminding outsiders of the fashion, film or media industry [ Management of Art Galleries Business Models. Bruno Frederick 2011. p. 37] and the consumers perceive the offered products are similar but no identical. The work of art are unique an even two works on the same theme by the same artists are no substitutes for one another. The art market offers a broad range of collecting, buying and selling opportunities.