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. Say something about your primary competitor in the product’s market and current market conditions.
Select a potential competitive organization and a product in that organization.
Write a 1,400 – 1,750-word paper using the following highlighted items as guidelines for headings in the body of your analysis.
· A short history of the organization and a description of their product (For the organization I was thinking car company ie Ford, technology company ie microsoft. Let me know what you guys think.)
· 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.
1. Price elasticity of demand
2. Ttechnological innovation
3. The relationship between the amount of labor & capital employed and the law of diminishing marginal productivity
4. Factors affecting variable and fixed costs.
· 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.
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