MEQA501, Business Management

Assignment Help:
Today is your first day working for MarmaMed, a firm that produces and sells a small range of medical diagnostic products. MarmaMed’s main product is the DiagnoKit™, a simple-to-use test for the rapid diagnosis of Hepatitis C. The test is intended for use by trained personnel in medical facilities, clinical laboratories, emergency care situations, and physicians'' offices as a screening assay capable of providing a result in less than 30 seconds. There is only one competing product in the marketplace, the HepaFind™, which is manufactured by the firm JerryPharma .

Last week, MarmaMed’s business analyst, Jo Green, didn’t show up for work. Rumour has it that Jo went to Vegas for the weekend and ended up joining Cirque du Soleil, but nobody really knows. The police have been informed.

Before she disappeared, Jo was working on an important and time-sensitive project for MarmaMed’s CEO, Harry Harrison. The project involves four interrelated tasks:

1. Estimate an empirical demand function for DiagnoKits™.
2. Interpret the estimated demand function for DiagnoKits™.
3. Make pertinent recommendations to senior management based on the empirical demand
function.
4. Write a short report summarizing the results of the analysis and any recommendations.

Harry asks you to complete the project. He tells you that he’s particularly interested in knowing
if the current price of the DiagnoKit™ is optimal and, if not, whether it should be increased or
decreased. He tells you that the current price of a DiagnoKit™ is $30.00 and that since the
production process has been set up, the marginal cost of producing additional kits is essentially
zero. Harry is also interested in knowing whether or not the firm’s advertizing expenditures
over the last three years have been a good investment and anything else relevant that your
analysis uncovers.

You only have a week to complete the analysis, interpret the results, and summarize your
findings and recommendations in a brief report. Harry tells you that the main body of the
report must be short (a 1000 words at most excluding the title page and any appendices), to
the point, and not overly technical. He tells you that his formal knowledge of mathematics,
economics, and statistics is somewhat limited, and asks you to keep that in mind as you write
the main body of the report. Nevertheless, your conclusions and recommendations must be
based on a rigorous analysis of the available data and you should provide a concise summary of
any technical details in an appendix. Harry also tells you to be explicit about any important limitations that your analysis might have.

Related Discussions:- MEQA501

Modes of Entry and Internalisation, ‘Although the elegance and comprehensiv...

‘Although the elegance and comprehensiveness of transactions costs reasoning has provided the internalisation approach with a powerful logic (Rugman, 1981, 1985), it is still defic

Benefits of computer aided design, Explain the benefits of Computer Aided D...

Explain the benefits of Computer Aided Design (CAD) and Computer Aided Manufacturing (CAM) to an organisation Reduced material wastage By precise design and pattern making

Performance management, You just got an important request from the organiza...

You just got an important request from the organization's President to conduct an audit of the company's current appraisal system.  By far the most problematic and volatile issue a

What are the scopes of management information system, What are the scopes o...

What are the scopes of Management Information System? Scope of Management Information System is: a. For giving timely, accurate, relevant and whole information. b. For gi

Ledership and organization behaviors, what are the challenges of only seein...

what are the challenges of only seeing the behaviors?

Reflection, My university lecturer asked me to prepare a reflection on how ...

My university lecturer asked me to prepare a reflection on how was the class and how will the business edge subject will reflect to my life? please answer as soon as possible. abou

Explain any five seam class along with illustration, Question 1 What is sa...

Question 1 What is sampling? Explain types of the samples Question 2 Write short notes on following The main elements of a computer-controlled cutting system Round k

BUSI-600, ETHICS OF RESEARCH is my research paper topic of 3000 words

ETHICS OF RESEARCH is my research paper topic of 3000 words

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd