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

Explain the different wireless technologies, Question 1 Explain any five a...

Question 1 Explain any five architectural components of CRM solution Question 2 Explain the different wireless technologies Question 3 Explain the meaning of Elect

Organizations corporate structure, Select an organization of your choice. T...

Select an organization of your choice. The organisation could be one where you work or one where a close family member, or friend, works. It is important that you have access to a

Problems that reload might come across includ, b) Problems that Reload migh...

b) Problems that Reload might come across include  Rivals such as Delifrance and Subway are better known multinational companies with well-established customer networks. This p

#title. group international expansion report and presentati., The Bank has ...

The Bank has developed a reputable brand in the Australian and New Zealand markets and is now looking for suitable acquisitions and strategic partnerships in foreign markets in ord

Memo format addressed to the vp marketing, As a Sales Manager, prepare a on...

As a Sales Manager, prepare a one page report in memo format addressed to the VP Marketing, providing sales updates for a newly launched FMCG product

International business and managerial implications, International business ...

International business and managerial implications As Havana tries to expand its business internationally, there are few aspects that need to be taken into consideration. Firs

Office administration, how to draw a stock control card and discuss the com...

how to draw a stock control card and discuss the completion process .

What is the prime aim of a good inventory control, What is the prime aim of...

What is the prime aim of a good inventory control? A good inventory control will aim to: 1. Procure material of good quality within time 2. It doesn’t to face shortage of

Branch Manager, How to make a business plan for fmcg products and what are ...

How to make a business plan for fmcg products and what are the key points!

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