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Imagine
you are part of a strategic planning group at a large corporation that is
considering developing a new proposed product. The marketing director has asked
your team to do a competitive market analysis to determine the product’s
potential success. The analysis will focus on your primary competitor in the
product’s market.
Select a
potential competitive organization and a product in that organization.
Write a
1,400 – 1,750-word paper of no more than analyzing the current market
conditions. Address the following topics:
·
A short history
of the organization and a description of their product
·
Factors that
affect demand, supply, and equilibrium prices in the market in which the
competitor organization operates: Define the market for your chosen product,
including an analysis of its competitors, potential customers, or potential
buyers.
·
Any issues or
opportunities your organization or industry faces that affect its
competitiveness and long-term profitability with regards to your product: This
may include, but is not limited, to the following elements.
o Price
elasticity of demand
o Technological
innovation
o The
relationship between the amount of labor & capital employed and the law of
diminishing marginal productivity
o Cost
structure
·
Factors
affecting variable costs, including productivity and others that change the
supply of and demand for labor
·
Factors
affecting fixed costs
Make
recommendations on how your organization can maximize their profit-making
potential, and successfully compete in the new market. Consider the effect your
recommendations may have on marginal revenues and costs.
Format your
paper consistent with APA
guidelines.
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