Imagine you are part of a strategic planning group at a large corporation that is considering developing a new proposed product. The marketing director has asked you to do a competitive analysis to determine the product’s potential success. The analysis will focus on your primary competitor in the product’s market.
The selected competitive organization is McDonalds and the product is the McVeggie Burger.
Write a 500-to-600-word paper analyzing the current market conditions. Address the following topic:
Factors that affect demand, supply, and prices in the market in which the competitor organization operates.
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.
Use a minimum of 3 peer reviewed sources.
Format your paper consistent with APA guidelines.