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Competitive Analysis 1) Identify a business, market, or industry (your choice). Describe the overall business environment,...

Competitive Analysis 1) Identify a business, market, or industry (your choice). Describe the overall business environment, identifying the underlying determinants of both supply and demand for the participants involved. What are the elements that shape the market you have chosen? Are there currently any internal or external dynamic changes occurring? Are there surpluses or shortages? 2) Regarding supply, describe the primary fixed and variable costs involved. Which costs most affect production? Is the business experiencing diminishing returns of any kind? How does current production relate to overall capacity? Describe. How are costs relative to production? Describe. Regarding demand, how responsive are buyers to price changes in the market, and how elastic or inelastic is the demand for the products involved? Are there different groups of customers with differing demand elasticities? 3) What is the nature of competition in the market you have chosen? Where does your firm fit into the range of market structures? Do barriers to entry exist? What types of pressures do the firms involved face? Is there price pressure? Is regulation an issue? 4) Create a conclusion or overall assessment of the success of the business in both the short and long term. Is it a winner or loser? Does something fundamentally have to change for the firm to succeed? Why or why not?

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