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

Business analytics assignment, Hey I need help with the Part 3 of my busine...

Hey I need help with the Part 3 of my business analytics assignment

.Bureaucratic Management, whether bureaucratic approach will be appropriate...

whether bureaucratic approach will be appropriate for the organizational performance or not?

Preparation of maintenance programmes, The next step is to prepare mai...

The next step is to prepare maintenance programme. It is a sequential list which allocates specific maintenance work to a specific period.

International Business, select a product and a country that you want to exp...

select a product and a country that you want to export, trade manufacture or doing business. write your proposal to fulfill all the requirement

Business Report, Select an Australia based mobile service provider. This bu...

Select an Australia based mobile service provider. This business should have its operations in the Australian market and should have a legitimate website. Some of the options could

Market segmentation, analyize the consumer segmentation in blackberry mobil...

analyize the consumer segmentation in blackberry mobile

Discuss the steps for preparing and conducting presentation, QUESTION ...

QUESTION Being able to convey a stunning presentation has become increasingly important in the development of a successful managerial career Based on your own experience, d

Explain about the management information system, Explain about the Manageme...

Explain about the Management Information System. Management Information System: It is defined as like a formal method of making obtainable to management the precise and t

Strategic operations, Integrate operations management analysis into general...

Integrate operations management analysis into general business management planning and decision making

The emergence of e-business, QUESTION (a) With the help of appropriate ...

QUESTION (a) With the help of appropriate examples, describe Porter's five force model for E-business companies. (b) How has Web page standards contributed to the emergence

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