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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 productâs potential success. The analysis will focus on your
primary competitor in the productâs market.
Selecta potential competitive organization
and a product in that organization.
Writea 1,400 â 1,750-word paper of no more
than analyzing the current market conditions. Address the following topics:
· A short history of the organization and a
description of their product
· 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.
·
Price elasticity of demand
·
Technological innovation
·
The relationship between the amount of labor
& capital employed and the law of diminishing marginal productivity
·
Cost structure
o Factors
affecting variable costs, including productivity and others that change the
supply of and demand for labor
o Factors
affecting 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 may have on
marginal revenues and costs.
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