ECO 365 Week 3 Current Market Conditions Competitive Analysis

ECO 365 Week 3 Current Market Conditions Competitive Analysis

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 Industry Week. 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. Use a minimum of 3 peer-reviewed sources from the University Library. Format your paper consistent with APA guidelines.
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