Assignment:
Imagine you are part of a strategic planning group at Walmart that is considering developing a new proposed product, eco-friendly bath towels. 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.
Write a 250-word paper analyzing the current market conditions. Address the following topic:
1. 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
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.