ECO 561 Business Proposal Feedback Checklist

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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.

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