Discussion:
Imagine you are part of a strategic planning group at a large corporation (company 1, C1) that is considering developing a new proposed product (product A, PA). 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.
Select a potential competitive organization (company 2) and a product(product B) in that organization.
Write a 1,050 - 1,400-word paper analyzing the current market conditions. Address the following topics:
1. A short history of the company 2, C2 and a description of product B, PB.
2. Factors that affect demand, supply, and equilibrium prices in the market in which C2 operates: Define the market for your PA including an analysis of PA competitors, potential customers, or potential buyers.Â
Any issues or opportunities your C1 or industry faces that affect its competitiveness and long-term profitability with regards to your PA: This may include, but is not limited, to the following elements.
Price elasticity of demand