Current Market Conditions Competitive Analysis - Team Assigment

My part is only the introduction

and this answer this question:

Any issues or opportunities your organization 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

Product M Imagine your team is 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. MacDonalds (Big Mac) vs. Burger King Whopper.