Problem:
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 competitior in the product's market.
Select a potential competitive organization and a product in that organization: My team has selected McDonalds as a potential competitve organization
We are working for In and Out Burger and we want to incorporate a kids meal as our new product.
I would like help with finding out what type of issues or opportunities our organization or industry might face that may affect its competitiveness and long-term profitability with regards to the new product: this may include, but is not limited, to the following elements.
1. Price elasticity of demand
2. Technological innovation
3. The relationship between the amount of labor & capital employed and the law of diminishing marginal productivity
4. Cost Structure