2. Suppose you are product manager for a pharmaceutical firm
hoping to launch a new drug to treat schizophrenia. Identify the
types of people from whom you would secure marketing research data
and the sorts of data you would seek.
The types of people from whom research data can be collected for this research objective are as follows:
2. Suppose you are product manager for a pharmaceutical firm hoping to launch a new drug...
You are a manager who works for Hecht LLP, a local accounting firm. Your client is Triox Co. Triox is a major manufacturer of pharmaceutical products. A significant part of the company's operations involves research and development. Your firm has accepted the engagement to prepare a special report regarding the operations of Triox. (more will be discussed on this in unit five). Any findings in the report will be used to dictate the interest rate for future financing. You have...
Scenario: A pharmaceutical company is going to be selling a new brand-name prescription drug to treat allergies. You have been hired to help them market this product to individual and industry consumers. Identify individual and industry-based consumers for the prescription drug product. What are buying behaviors and characteristics of these consumers?
Part A: Suppose you work for a pharmaceutical company that is testing a new drug to treat ulcerative colitis. You conduct a random sample of 34 patients on the new drug and 14 of them indicated a decrease in symptoms since starting the drug regimen. You construct a 90% confidence interval for this proportion to be ( 0.2733 , 0.5502 ). What is the correct interpretation of this confidence interval? 1) We are certain that 90% of patients will be...
29. A firm has to decide which one of three new products to launch. The profitability of each product depends on the level of demand. The research conducted by the firm suggests that the demand for these types of products can be high, medium, and low with different probabilities. The decision problem faced by the firm is presented in the form of a payoff matrix (profits) as shown below: States of Nature High Medium Low Decision Alternatives s1 s2 s3...
You work for a pharmaceutical company that has developed a new drug. The patent on the drug will last 16 years. You expect that the drug's profits will be $2 million in its first year and that this amount will grow at a rate of 5% per year for the next 16 years. Once the patent expires, other pharmaceutical companies will be able to produce the same drug and competition will likely drive profits to zero. What is the present...
A pharmaceutical company has developed a new drug to reduce cholesterol. A regulatory agency will recommend the new drug for use if there is convincing evidence that the mean reduction in cholesterol level after one month of use is more than 20 mg/dl. The company collected data by giving the new drug to a random sample of 50 people from the population of people with high cholesterol. The sample mean reduction was 24 mg/dl and the standard deviation was 15...
A pharmaceutical company has developed a new drug to reduce cholesterol. A regulatory agency will recommend the new drug for use if there is convincing evidence that the mean reduction in cholesterol level after one month of use is more than 20 mg/dl. The company collected data by giving the new drug to a random sample of 50 people from the population of people with high cholesterol. The sample mean reduction was 24 mg/dl and the standard deviation was 15...
... 2) You are the manager of a firm in a new industry. You have gotten the jump on the only other producer in the market. You know what your competitor's cost function is, and it knows yours. Your products, although different to experts, are indistinguishable to the average consumer. Your marketing research team has provided you with the following market demand curve: Q = 1,250 - 5P. Your cost function is c (0)=8QA. Your competitor's cost function is c(,)=6Q,....
You work for a pharmaceutical company that is testing a new cholesterol drug. The proportion of patients on the previous drug who had a positive treatment was 0.375. You want to see if the new drug is more effective than the previous drug. You conduct a sample of 113 patients on the new drug and find that 76 have had a positive treatment effect. The 95% confidence interval is ( 0.586 , 0.7591 ). What is the best conclusion you...
Help with Q9 pls Q8 Q9 A pharmaceutical company has created a new drug to decrease how long patients suffer from a runny nose while having a cold. It is known that without treatment, on average, people report having a runny nose for 60 hours while having a cold. A test is organised for this new drug, hoping to prove the drug indeed decreases the duration of symptoms: 154 patients use it at the first sign of a runny nose...