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ECO 365 WEEK 3 Current Market Conditions Competitive Analysis

ECO 365 WEEK 3 Current Market Conditions Competitive Analysis

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ECO 365 WEEK 3 Current Market Conditions Competitive Analysis

 

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ECO 365 WEEK 3 Current Market Conditions Competitive Analysis

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 from IndustryWeek.

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.