Homework!

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.

(I picked Hormel foods inc.)

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.

Format your paper consistent with APA guidelines.