Current Market Conditions Competitive Analysis

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Current Market Conditions Competitive Analysis

Imagine you are part of a strategic planning group at a large corporation that is considering developing a new product (please select a product that already exists in the market. Do not discuss a new product you would like to invent). The marketing director has asked your team to do acompetitive market analysis to determine the product’s potential success (this is why you are using a product that already exists, so you can compare with existing products). The analysis will focus on your primary competitors in the product’s market.

Select a potential competitive organization and a product in that organization. 

Write a 1,400 – 1,750-word paper of no more than analyzing the current market conditions. Address the following topics:

• Title page in APA format (5 points related to APA)

• Start the paper with an Introduction for the paper (what is the paper about, why is this important, list topics to be discussed)    (5 points)

• A short history of the organization and the products/services it produces/offers. You must discuss a real company and a real product that already exist. (5 points)

• Describe the product you have selected for this paper. You MUST select one specific product. (5 points)

• Competition: List and discuss the main competitors offering this product/service (2.5 points). Include graphs, data, charts, tables, comparing prices for the selected product across competitors (2.5 points).

• SUPPLY: Discuss one supply shifter that is relevant to your product). Has this factor led to a shift outward (increase) or to a shift inward (decrease) in supply overall for competitors)? (5 points)

• DEMAND: List and define potential customers / potential buyers who do/could consume (demand) this product. Discuss one demand shifter that is relevant to your product). Has this factor led to a shift outward (increase) or to a shift inward (decrease) in demand overall for potential buyers)?  (7 points)

• Discuss the following topics for your organization and the chosen product within the organization from the perspective of how they affect its competitiveness and long-term profitability: This MUST include TWO of the following elements (Select 2 only): (4 points per item for a total of 8 points for this subsection)

1.  Price elasticity of demand (justify your answer. See below some comments on factors that determine elasticity. It is preferable that you include an elasticity for this product found in your research).
2. Technological innovation (must  discuss at least one specific technology that is new and innovative in your industry)
3. Cost structure: factors affecting variable costs, factors affecting fixed costs (these must be specific costs that relate to your industry)
4. Advertising and promotion (you must include comparisons of how much the main competitors and your firm are spending on advertising. Discuss this, do not just show the numbers).
5. Outsourcing production to lowest-cost countries (to which countries are they outsourcing and why)
6. Impact of government regulations (explicitly discuss one policy that does/could affect your product)

• Make recommendations on how your organization can maximize their profit-making potential, and successfully compete in the new market. Please cite the textbook and explain howmarginal revenue and marginal cost must relate to maximize profit. (5 points)

• Finish with a conclusion (summarize all the topics covered in the paper) (5 points)

• Include a Reference page. Include a minimum of 2 references. One of the references mustbe the class textbook. All references must be cited somewhere in the paper to get credit. (5 points)