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.
Scenario: You have been given the responsibility of working with an organization\’s executive team to do a competitive market analysis of the potential success of one of the company\’s existing products.
Research an organization and a product produced by that organization in which an analysis can be conducted.
Select one organization from this list:
– Otis Elevator,
– Ford Motor Company,
– Johnson and Johnson,
Write a 1,750-content word analysis [don\’t count title pages or works cited pages/cited work] of the current market conditions facing the product, making sure to address the following topics:
Define the type of market [which of the 4 market structures] in which the 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 the organization can maximize the profit-making potential and increase the presence within the market served by the product.
Note: Papers with fewer than 1,750-content words, or more than 5% over 1,750 content words [@ 1,860] content words] will lose points.
Write in the 3rd person; avoid I / me / my / you / your / we.
Instead write: This analysis will…..
Include a thesis and summary conclusion.