User Account

All Pages

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

Differentiate between tall and flat organizations, QUESTION (a) (i)...

QUESTION (a) (i) What is information overload? Illustrate your answer through a practical example. (ii) How could each of the factors below contribute to information ove

Benefits of oral business communication, What is oral business communicatio...

What is oral business communication? Explain its benefits to the organisation and to the individual employee.

Explain how you would write a scientific grant, Question 1: a) Your su...

Question 1: a) Your supervisor and you have different expectations and you start to realise that poor communication is getting in the way of your progress. Discuss strategi

Safety programme, Safety programme In very case of work  connected  inj...

Safety programme In very case of work  connected  injury there  must be some  degree of hazarded and unsafe or otherwise  faulty behaviour. Therefore  in every  plant small or

An important role of management in promotion of productivity, How can manag...

How can management play an important role in promotion of productivity? Productivity means that more number of goods or output through the same amount resources or input. Manag

Prepare an eia for an integrated resort scheme, As an EIA Consultant you ha...

As an EIA Consultant you have been requested by a promoter to prepare an EIA for an Integrated Resort Scheme (IRS) project consisting of 150 Villas, an 18 Hole International Level

non verbal communication, Describe three specific situations at the workpl...

Describe three specific situations at the workplace where positive non verbal communication could be used effectively to enhance verbal communication.

What is new public management, QUESTION 1 (i) What is New Public Manage...

QUESTION 1 (i) What is New Public Management? (ii) Describe the New Public Management principles which help to transform public sector organisations into entrepreneurial age

Cost leader and differentiation strategy in business, Ernst & Young's Strat...

Ernst & Young's Strategy for Competitive Advantage As per today's globalized business scenario, Ernst & Young is using different innovative and attractive strategies in order

What are the features of an intelligent agent, QUESTION (a) Distinguish...

QUESTION (a) Distinguish between an Internet Incubator and Venture capitalists. (b) Describe the components of a supply chain management? (c) What is included in the deve

Write Your Message!

Captcha
Order Assignment

Featured Services

Order Now

Popular Subjects

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!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +91-977-207-8620

Phone: +91-977-207-8620

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

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