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 your team to do a competitive market analysis to determine the product's potential success. The analysis will focus on your primary competitior in the product's market.
Select a potential competitive organization and a product in that organization: My team has selected McDonalds as a potential competitve organization
We are working for In and Out Burger and we want to incorporate a kids meal as our new product.
I would like help with finding out what type of issues or opportunities our organization or industry might face that may affect its competitiveness and long-term profitability with regards to the new product: this may include, but is not limited, to the following elements.
1. Price elasticity of demand
2. Technological innovation
3. The relationship between the amount of labor & capital employed and the law of diminishing marginal productivity
4. Cost Structure
One of the issues that the organization may face for achieving competitiveness and longer term profitability in the kids meal segment is health concerns related to the kids meal. Today's consumers and parents are becoming increasingly concerned about the health consequences of eating junk food or restaurant food and have become more conscious about eating healthy food made from fresh, organic and healthy ingredients. They are increasingly making their kids aware about eating healthy food. Hence, in order to sustain long term profitability and enhance competitiveness, the organization would need to ensure that its menu offerings for kids meal focus on health concerns and offer healthy menu for kids. Leading industry players such as Mcdonald's are increasingly focusing on healthy ingredients and healthy menu items to attract customers of all ages, including kids as well as increasingly delivering message to ...