ECO 365 Week 3 Current Market Conditions Competitive Analysis

Jun 5th, 2016
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University of Phoenix
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Week 3 Current Market Conditions Competitive Analysis 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 competitor in the product's market. Select a potential competitive organization and a product in that organization. Write a 1,400- to 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 prices in the market in which the competitor organization operates • Define the market for your chosen product, including an analysis of its competitors, and customers. • Any issues or opportunities your organization faces that affect its competitiveness and long-term profitability with regards to your product: This

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Running head: MARKET STRUCTURE1Market Structure Spirit AirlinesUniversity of PhoenixECO/365 Principles in MicroeconomicsAbstractThe following paper will examine Spirit Airlines competitive market analysis todetermine the airlines potential success while focusing on primary competitors in the airlineindustry market.MARKET STRUCTURE2A Competitive Analysis of Spirit AirlinesSpirit Airline is known for its discount, no frizz airfares, and is developing as a leader inthe airline industry. The following will examine Spirit Airlines competitive market analysis todetermine the airlines potential success while focusing on primary competitors in the airlineindustry. We will identify and analyze the competitors and customers of Spirit Airlines thataffect supply and demand. At the center of our focus, we will explain the potential opportunitiesSpirit Airlines has to surpass its competitors gaining long-term profits by way of innovations intechnology, productivity, labor, and customer satisfaction. The success of Spirit Airlines hingeson customer satisfaction. After all, Spirits mission for this growing company is to fill seats.Humble BeginningsIn 1964, Ned Homfeld started a trucking company named Clipper Trucking Company.Several years later, Mr. Homfeld founded Charter One. Charter One sold travel packages todestinations like Las Vegas, Atlantic City, and the Bahamas. They began to offer travel serviceto Rhode Island, Boston, and Providence. Meanwhil

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