Assignment:
You have been given the responsibility of working with your organization's CEO to do a competitive market analysis of the potential success of one of their existing products.
Select your organization and a product produced by that organization fromIndustryWeek.
Write a 2,100-word analysis of the current market conditions facing your product, making sure that you address the following topics:
• Define the type of market in which your selected product will compete, along with an analysis of competitors and customers.
• Analyze any comparative advantages and international trade opportunities.
• Explain the factors that will affect demand, supply, and prices of that product.
• Examine factors that will affect Total Revenue, including but not limited to:
• Price elasticity of demand
• Factors that influence productivity
• Various measures of costs, including opportunity costs
• Externalities and government public policy and their effect on marginal revenue and marginal cost
• Recommend how your organization can maximize their profit-making potential and increase their presence within the market served by the product.