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

Advantages of functional structure, Organisations tend to organise their wo...

Organisations tend to organise their working areas by function, e.g. production, warehouse, sales and marketing, etc.  Business processes occur across these functional groups requi

Safety organization, Safety Organization  A safety organization consis...

Safety Organization  A safety organization consists of a systematic procedure by means  of which  interest is  co rated and  maintained and all safety activities  are co relat

How will environmental management tools be used, Tourism development places...

Tourism development places additional pressure on the environmental resources upon which it is based, compromising the future prospects of the local population and, indeed, the ex

Define worker stress, Question 1: a) Define conflict and explain how i...

Question 1: a) Define conflict and explain how it can arise in an organization b) Describe the levels at which conflict can occur c) Describe fully two sources of inte

Describe the term e-procurement, (i) Compare the categories of electronic c...

(i) Compare the categories of electronic commerce and explain how e-commerce is changing consumer retailing and business to business transactions. (ii) Describe the term ‘e-pro

Different delivery styles , Explain the different delivery styles that spea...

Explain the different delivery styles that speakers can select for their presentation

Find the total waiting cost, If the waiting time cost per hour for a FAST t...

If the waiting time cost per hour for a FAST truck is $100 and the waiting time cost per hour for a non-FAST truck is $40. Build the following ARENA models to help you decide which

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