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

Contemporary Management, I''m kindly asking to make an assignment against "...

I''m kindly asking to make an assignment against "Contemporary Management Issues" in maximum words of 2,500 words as per the attachment. kindly try to finish them as soon as possib

Consumer behaviour when making a purchase, Describe briefly the main stages...

Describe briefly the main stages included in the (rational) process of consumer behaviour when making a purchase.   Problem/Need recognition The purchasing process is a pro

Factors that help to prevent resistance to change, Question 1: (a) Disc...

Question 1: (a) Discuss three different levels of Management. (b) Differentiate between omnipotent and symbolic view of managers. (c) Explain the different functions of M

Mensa INC, 1. Describe the situation facing Mensa at the time of the case. ...

1. Describe the situation facing Mensa at the time of the case. This should include the major issues facing the company and the decisions that need to be made. You are to spend no

Investment in information technology, Investment in information technology ...

Investment in information technology can permit a business to lock in customers and suppliers by building valuable new relationships with them. Earlier this approach was utilized t

Tangy spices Ltd, What is the background of Tangy Spices Ltd?How did it sta...

What is the background of Tangy Spices Ltd?How did it start?

Write individual reflections after observing, Write individual reflections ...

Write individual reflections after observing three hours of instruction and analyzing three instructional tools (assessments or project assignments).  Requirements: For ea

Organization for maintenance, Organization structures for maintenance var...

Organization structures for maintenance vary across companies the deciding factors on a particular type being the nature of industry ( electrical chemical or mechanical) size

Frauds of the century: the case of bernard madoff, what were the ethical is...

what were the ethical issues involved in the madoff case?

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