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Comparative market and operational performance analyses.

Conduct comparative market and operational performance analyses.

Student Success Criteria
View the grading rubric for this deliverable by selecting the “This item is graded with a rubric” link, which is located in the Details & Information pane.

Scenario
You are a Business Strategy Analyst working for a mid-size retail company. You have been asked to review a current product that has decreased in sales and create a comparative matrix. You will need to research direct and indirect competitors and provide your matrix and a report to your CIO (Chief Information Officer). You have also conducted a manufacturing performance review and received the following sample size information from the product line from all of the manufacturing plants.

Instructions
Step One: Research one of the following three products and related industries. Create a comparative matrix (including your product) using the template and example provided to get some ideas. You will need to decide your objectives (Price, Easy to Use, Color Options, etc.) and your direct competitors. However, do not forget to include any indirect competitors or industries. NOTE: The template is just a starting point for your comparative matrix, and you may need to add more rows or columns depending on your building and research for your matrix. Remember, this will be an essential step in answering the questions in the next step, so you need to be mindful and thoughtful about what goes into your matrix.

Digital Cameras
Athletic Shoes
Soft Drinks

Step Two: After you have created your comparative matrix for your product, write a report for the CIO. Make sure you include your comparative matrix by copying and pasting it into your Word document. Address the following in your report:

What is the outcome(s) of your comparative matrix market analysis?
Using Six Sigma to compare the manufacturing defect rate on your product, what could be some additional reasons for the reduction in sales? What operational changes could be made to increase performance?
Discuss how the business performance management (BPM) process would impact the company.
Provide attribution for credible sources needed in completing your report.

Full Answer Section

Recommendations I recommend that we improve our marketing and distribution strategies in the following ways:

Increase our online marketing efforts.
Expand our distribution to include more retailers.
Partner with social media influencers to promote our product.

I believe that these changes will help us to increase sales and improve our market share. Manufacturing Performance Review The manufacturing performance review shows that the product line is meeting quality standards. However, there is some room for improvement in terms of production efficiency. I recommend that we focus on improving production efficiency in the following ways:

Optimize the production process.
Invest in new equipment.
Train employees on new production techniques.

I believe that these changes will help us to reduce costs and improve our bottom line. Conclusion The comparative market analysis and manufacturing performance review show that our product is competitive and that we have the potential to increase sales. However, we need to improve our marketing and distribution strategies, as well as our production efficiency. I believe that these changes will help us to achieve our sales goals and improve our profitability.

Sample Answer

Comparative Market Analysis Report Product: Digital Cameras Company: Mid-size retail company Date: 2023-07-21 Executive Summary This report analyzes the market for digital cameras and compares our product to our direct and indirect competitors. The results of the analysis show that our product is competitive in terms of price, features, and performance. However, we need to improve our marketing and distribution strategies in order to increase sales. Comparative Matrix The following table compares our product to our direct and indirect competitors in terms of price, features, performance, and marketing.

Feature	Our Product	Competitors
Price	$200	$150-$300
Features	12 megapixels, 5x optical zoom, Wi-Fi connectivity	10 megapixels, 3x optical zoom, no Wi-Fi connectivity
Performance	Good image quality, fast autofocus	Good image quality, slow autofocus
Marketing	Online and in-store	Online only

Outcomes of the Market Analysis The market analysis shows that our product is competitive in terms of price, features, and performance. However, we need to improve our marketing and distribution strategies in order to increase sales.