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

E-commerce cost benefit analysis, Sun Gas wants to move its sales order sys...

Sun Gas wants to move its sales order system to the Web. Under the proposed system, gas stations and other merchants will use a Web browser and, after typing in a password for the

The four seasons corporation, what market segment will the company be targe...

what market segment will the company be targeting?why?

Estimate the revenue and expenses of equipment, Existing machine Purchas...

Existing machine Purchased 3 years ago Cost=22,000 Installation= 3000 Depreciation=3 years using the MACRS - 5 year Recovery schedule Current market value=10,000

Total quality management, what are the common barriers to team progress of ...

what are the common barriers to team progress of pepsico?

Comparison of breakdown and preventive maintenance, A relationship exists...

A relationship exists between the amount of preventive maintenance which has been performed and the amount of corrective maintenance which will be required. An increas

Explain the steps in the control process, Problem 1: (i) (a) Using exam...

Problem 1: (i) (a) Using examples where appropriate, explain the four steps in the control process. (b) Mention the different types of control. Problem 2: Money is a

How does scm help a company in gaining competitive advantage, QUESTION ...

QUESTION (a) After seeing the results obtained from table above, Ah Kong decides to implement an ERP system. List down two advantages and two disadvantages of implementing such

BUSINESS OPERATION, INFORMATION SYSTEM FOR BUSINESS OPERATION.

INFORMATION SYSTEM FOR BUSINESS OPERATION.

Discovering accident causes, Discovering Accident Causes: Before  any step...

Discovering Accident Causes: Before  any steps can be  taken in  it is essential  to find out: The causes of previous  accidents and  The existing  hazards that may  causes

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