ECO 561 Business Proposal Feedback Checklist
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Description
University of Phoenix Material
ECO 561 Business Proposal Feedback Checklist
Important information
Included?
Comments
Identification of market structure
Yes No
Although monopoly was discussed in general, the market structure for the company was not identified.
Assumptions regarding market structure and elasticity
Yes No
Market structure and elasticity were not discussed. The company would be highly elastic because consumers would most likely be sensitive to price changes in India and China.
To what degree do you agree or disagree with the items below?
SD=Strongly Disagree
D=Disagree
N=Neutral
A=Agree
SA=Strongly Agree
Justification included?
Comments
Chosen method to increase revenue
SD D N A SA
Yes No
Provided great examples to increase revenue for the business and provided more than one. The method to get their raw material locally is a great method.
Chosen methods to determine profit-maximizing quantity
SD D N A SA
Yes No
Didn't provide any method to determine profit-maximizing quantity.
Use of concepts of marginal cost and marginal revenue to maximize profit
SD D N A SA
Yes No
Didn't provide any concepts of marginal cost and marginal revenue to maximize profit. A good concept would be to make sure that they are not wasting any of the raw materials that they are purchasing.
Suggested mix of pricing and nonpricing strategies
SD D N A SA
Yes No
Provided great strategies for both mix of pricing and nonpricing strategies. Advertising is always the best way to get consumers to buy a product and by locating the company near colleges and call centers is a great idea. Building the partnership with the hotels is a great strategy especially for the tourists.
Selected barrier to entry
SD D N A SA
Yes No
Didn't provide barrier of entry for the company. I would suggest
Chosen methods to increase product differentiation
SD D N A SA
Yes No
This method was clearly identified to increase product differentiation. By offering coffee flavors specific to the culture and also offering the traditional flavors is a great idea.
Chosen methods to minimize costs for the product
SD D N A SA
Yes No
Buying the raw materials locally is a great method to minimize costs for the products. The company would be able to save on shipping and handling and will most like be able to get the materials at a lower cost.