You will create this assignment following the Assignment Detail instructions below.Review the tutorial titled How to Submit the Intellipath Submission Assignment.Please submit your work to this week’s Intellipath Unit Submission lesson. Click the Upload button within the submission lesson to access the submission area. Click the Select File button to upload your document, and then click “OK” to finish.Assignment DetailsYour company is considering entering a new market and has asked you to conduct some research and write a report about the new market and its potential competitors. From the company research you conducted in your Unit 3 submission, write a paper about the company you chose that describes the firm and its strategy. Using information from AIU’s Library, IBIS World, and the Internet and feedback from your instructor on your PowerPoint slideshow from Unit 3, address the following points: Describe the firm, including such information as its products and annual sales.Describe the product market(s) in which it operates.Which of the 4 market models that you are studying applies most closely? Explain.Be sure to define terms like oligopoly or monopolistic competition.What is the geographic market that it serves? Does it operate in only one region of the United States? Does it operate nationally or internationally? Explain.Who are its competitors?As part of the market description, identify the largest 2-4 firms in the market, and report their total market sales.Provide a description of each of these firms.Explain whether competition from these firms poses a threat to the firm you have chosen for the paper.As part of the description of the firm, identify, describe, and explain at least 2 economic concepts that this firm seems to use to its advantage. Examples might include product differentiation; attainment of economies of scale; advertising; whether the firm is regional, national, or international; and so on. You may include an explanation of how any significant recent events or changes in this market have affected this firm. Examples are mergers and acquisitions, technological change, legal issues, whether market demand is expanding, and so on.Provide your evaluation of how this firm might better respond to the challenges it faces.Utilize at least 2 credible sources to support the arguments presented in the paper. Make sure you cite appropriately within your paper and list the reference(s) in APA format on your Reference page. Your paper should be 6 pages in length, not counting the Title page and Reference page. In accordance with APA formatting requirements, it should be double-spaced and include a running head and page numbers.Please note the following:The following are some questions that you might use as guidelines while you are preparing your presentation (answering these questions directly is not required):What are the firm’s strong points?What challenges is the firm facing?Is it expanding into new product lines or new geographic areas?How intense is the threat from competitors?Are there any changes in technology that threaten it?Is the market expanding or contracting?IBIS World Industry Reports are available through AIU’s Library in the Find Articles and E-books section of the e-Resources area