ECO 365 Week 3 Current Market Conditions Competitive Analysis

Purpose of Assignment 

Students will develop cost curves on which firm behavior is based and will utilize these cost curves to determine the behavior of their chosen organization in the market served. Using the concept of comparative advantage, students analyze trade opportunities and use the model of supply and demand to explain factors that could affect demand, supply and prices. Students will determine various factors that could affect their organization's total revenue and will recommend actions the firm could use to maximize their profit and their presence in the market served. 

Assignment Steps 

Scenario: 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. 

Research an organization and a product produced by that organization in which an analysis can be conducted. 

Write a 1,750-word analysis of the current market conditions facing your product, making sure 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. 

Cite a minimum of three peer-reviewed sources from the University Library. 

Format your paper consistent with APA guidelines. 

Click the Assignment Files tab to submit your assignment.