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.