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

Knowledge management, 1. Discuss the extent to which knowledge building thr...

1. Discuss the extent to which knowledge building through research, development and innovation can generate benefits to both firms and the economy. 2. Why do firms find it necessar

Business leader''s, Explain the business leader's primary business or busin...

Explain the business leader's primary business or businesses, highlighting how the leader got started and examine the leader's three (3) main business challenges in establishing an

Point easticity, calculate point elasticity of demand for demand functionq=...

calculate point elasticity of demand for demand functionq=10-2p for decrease in price from rs 3 to 2

Organising behaviour, what could you do to make Rajinder?s transition easie...

what could you do to make Rajinder?s transition easier?

Case Study, Part 2 There are two short cases at the end of the Daft. The f...

Part 2 There are two short cases at the end of the Daft. The first is Lisa Benavides, Forest International and the second is Acme and Omega. Choose one of the cases and 1) Using

IT, #questionExplain the changes in recent years in society, especially wit...

#questionExplain the changes in recent years in society, especially with regard to in technology usage, as it relates to the steady increase in; available computing power, availabl

Show the major fiduciary duties of the board of directors, Many state laws ...

Many state laws require a corporation to form a board of directors to represent shareholders and make decisions on their behalf. The board of directors is ultimately responsible f

Oil and gas, hi there I''m studying for oil and gas management, how could y...

hi there I''m studying for oil and gas management, how could you help me? thanks

Short term finance, briefly discuss the three shorth term financing problem...

briefly discuss the three shorth term financing problem and provide relevent examples of each?

Discuss ways to prevent inter-cultural misinterpretations, QUESTION No...

QUESTION Non-verbal behaviour is prone to being wrongly interpreted in intercultural encounters (Guirdham, 1999). Therefore, using a level of assertiveness which is appropriat

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