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

What are the causes of labour turnover, What are the causes of labour turno...

What are the causes of labour turnover? Causes of Labour Turnover: 1. Voluntary withdrawals through the worker 2. Lay-offs because of seasonal nature of industry, fuel

Explain the term internal environment of an organisation, QUESTION Many...

QUESTION Many business people tend to forget the importance of the internal environment for the success of their organisation. They rather give more importance to the impact of

Sources of change in the modern business environment, Section - Introductio...

Section - Introduction An introduction to either   An industry or   A profession or   A particular business or   A iwi/hapu group Give an introduction t

What are the uses of control chart, What are the uses of control chart? ...

What are the uses of control chart? Control chart: It is a daily graphical presentation of the collected information. Therefore information pertains to the measured or ot

Technology used for communication, Question 1 Since 2000, Tizil Company...

Question 1 Since 2000, Tizil Company Ltd manufactures Teddy bears which it exports to European countries. It has several factories located in Mauritius and in Rodrigues. With

Identify important aspects of human nature psychologist, QUESTION Throu...

QUESTION Through the study of Psychology, scientists seek to answer a wide range of important questions about human nature (a) Identify and describe carefully the important

Cycle inventories, Cycle inventories are held for the reason that purcha...

Cycle inventories are held for the reason that purchases are usually made in lots rather than the exact amount which may be needed at a point of time. Of course if all p

How is pricing affected in marketing management, How is pricing affected in...

How is pricing affected in marketing management? Pricing: The price of the products is implies whereby manufacturers acquire a fair return for their labour and replace/ra

Marketing 1, core concepts of marketing

core concepts of marketing

Explain effective decision making, Question 1: (a) List three types of ...

Question 1: (a) List three types of supervision styles. (b) Describe each of them, stressing upon their importance to you as supervisors. (c) Write short notes on two maj

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