Assignment: Strategic Plan
Length: 5 to 8 pages.
Share your revised paper from Milestone Two, which provides an overview of your competitors' position in the marketplace, the available and future marketplace, and a plan for how to address a change in business conditions. Ensure this section includes the following information.
I. Analyze the competitors' relative strengths in the marketplace. Use Power BI to create charts on the growth rates.
i. What is the growth rate of each competitor?
ii. How much of the market does each competitor now own? Do you see a trend of gaining or losing market share?
iii. Determine each competitor's market strength by looking at the financials for each competitor.
II. Explain how your company's market share compares to your competitors'. Use Power BI to create charts on your and your competitors' market share.
i. Is your company gaining or losing market share?
ii. What is your company's growth potential in the industry?
iii. How do your company's financials look compared to your competitors'?
III. Identify future potential total available market (TAM) and growth for chosen product/service and technology.
i. What is the TAM for cars and light trucks?
ii. What is the TAM for IoT-connected cars and light trucks?
iii. What is the projected compound annual growth rate (CAGR) for cars and light trucks?
iv. What is the CAGR for IoT-connected cars and light trucks?
IV. Identify ways to adjust if business conditions change.
i. What can you do if your customers are slow to respond (buy) the innovation?
ii. What can you do if one competitor is overtaking all the others, including you?
V. Describe the steps your company needs to take from concept outline to launch.
i. What is the size of development that will be required?
ii. Will you require additional capital and personnel?
iii. How would you approach determining the timeline from the beginning of development until initial product launch?
Format your assignment according to the following formatting requirements:
i) The answer should be typed, using Times New Roman font (size 12), double spaced, with one-inch margins on all sides.
ii) The response also includes a cover page containing the title of the assignment, the student's name, the course title, and the date. The cover page is not included in the required page length.
iii) Also include a reference page. The Citations and references must follow APA format. The reference page is not included in the required page length.