>> Marketing Management
Our goal in marketing class is to create a new product and we have chosen "heated insoles using kinetic energy."
Heated insoles are what you put inside your shoes to keep your feet warm during cold weather.
a. Identify the current and prospective competitors - how many are there; how big are they (in total sales dollars); what is their relative strength (market share) in the marketplace?
b. Describe the structure of the industry or market e.g. monopoly, oligopoly, monopolistic competition
c. Identify substitute products and/or processes d. Identify competitive barriers to overcome.