Assume that you are part of a strategic planning group at a big corporation which is considering developing a new proposed product. The marketing director has asked your team to do a competitive market analysis to find out the product's potential success. The analysis will focus on your main competitor in the product's market. Choose a potential competitive organization and a product in that organization. Write down a 1,400 to 1,750 word paper of no more than analyzing the present market conditions. Address the given topics:
a) A short history of the organization and an explanation of their product.
b) Factors which influence demand, supply and equilibrium prices in the market in which the competitor organization operates: Define the market for your preferred product, comprising an analysis of its competitors, potential customers or potential buyers.
c) Any issues or opportunities your organization or industry faces which influence its competitiveness and long-term profitability with regards to your product: This might comprise, however is not limited, to the given elements.
- Price elasticity of demand
- Technological innovation
- Cost structure
d) Factors influencing variable costs, comprising productivity and others that change the supply of and demand for labor.
e) Factors influencing 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 might have on marginal revenues and costs. Format your paper consistent with the APA rules.