ECO 365 Week 3 Learning Team - Current Market Conditions Paper

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Imagine you are part of a strategic planning group at a large corporation that is considering developing a new proposed product. 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 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:
• A short history of the organization and a description of their product
• Factors that affect demand, supply, and equilibrium prices in the market in which the competitor organization operates: Define the market for your chosen product, including an analysis of its competitors, potential customers, or potential buyers.
• Any issues or opportunities your organization or industry faces that affect its competitiveness and long-term profitability with regards to your product: This may include, but is not limited, to the following elements.
Price elasticity of demand
Technological innovation
The relationship between the amount of labor & capital employed and the law of diminishing marginal productivity
Cost structure
Factors affecting variable costs, including productivity and others that change the supply of and demand for labor
Factors affecting fixed costs
Make recommendations on how your organization can maximize their profit-making potential, and successfully compete in the new market. Consider the effect your recommendations may have on marginal revenues and costs.
Format your paper consistent with APA guidelines.

Preview:
LTC - SuperMix
Learning Team C are members of a company known as LTC Appliances. LTC Appliances is a company that specializes in selling kitchen and food-related appliances in department stores. LTC Appliances is marketing a new appliance, a mixer similar to the KitchenAid mixer. The team at LTC is looking to produce and market the new mixer as a lower-cost option to the KitchenAid mixer without sacrificing quality.
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