Matrix Market Analysis
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.
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
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.
