Imagine you are part of a strategic planning group at Apple considering developing a new IPhone. 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 (Samsung Galaxy) in the product’s market.
Write a 500-700 word paper analyzing the current market conditions. Address the following topics:
- Any issues or opportunities your organization or industry 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
- Make recommendations on how your organization can maximize their profit-making potential, and successfully compete in the new market. Consider the effect your recommendations may have on marginal revenues and costs.
*****Response must be consistent with NEW APA guidelines complete with level headings in-text citations as well as reference page. *****
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