Imagine you are part of a strategic planning group for a franchise juice and smoothie shop. You are considering adding some sort of game/exercise station in your store to attract patrons and differentiate yourself from competitors. It has been suggested to equip stores with Wii play stations. The marketing director has asked your team to do a competitive market analysis to determine the idea's potential success. The analysis will focus on your primary competitor in the product's market.
Access and download from IBIS World 72221B Coffee and Snack Shops in the US Industry Report.
Write a 1,400 - 1,750-word paper analyzing the current market conditions. Address the following topics:
• A short history of the organization and a description of their product
• Factors that affect demand, supply, and equilibrium prices in the market in which the competitor organization operates: Define the market for your chosen product, including an analysis of its competitors, potential customers, or potential buyers.
• 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
• Factors affecting variable costs, including productivity and others that change the supply of and demand for labor
• Factors affecting fixed costs
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.
Access and download from IBIS World 72221B Coffee and Snack Shops in the US Industry Report.
Write a 1,400 - 1,750-word paper analyzing the current market conditions. Address the following topics:
• A short history of the organization and a description of their product
• Factors that affect demand, supply, and equilibrium prices in the market in which the competitor organization operates: Define the market for your chosen product, including an analysis of its competitors, potential customers, or potential buyers.
• 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
• Factors affecting variable costs, including productivity and others that change the supply of and demand for labor
• Factors affecting fixed costs
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.
