ECO561 Week 3 Business Proposal (new product for Dove Company), received 5 out of 5 points - 18524

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This week, you may choose from two different assignment options. Each option requires you to apply economic principles presented in Weeks One through Three. Your assignment will be reviewed by your peers and by your facilitator.

 

Option 1: New Good (or Service) Business Proposal

 

Select a new good or service for an existing business or a business that you want to develop.

 

Write a 1,050- to 1,400-word business proposal for your chosen good or service. Include assumptions about the elasticity of demand and the market structure for the good or service. You might need to create hypothetical data or collect real data to determine fixed and variable costs.

 

Include rationale for the following questions:

 

  • How will you increase revenue?

 

  • How will you determine the profit-maximizing quantity?

 

  • How could you use the concepts of marginal cost and marginal revenue to maximize profit? What information do you need to determine this? Without this information, how would you make a decision?

 

  • What is your suggested mix of pricing and non-pricing strategies? Explain your answer.

 

  • Can you create or increase barriers to entry? If so, how?

 

  • How will you increase product differentiation?

 

  • Are there other ways to minimize costs for the product?

 

Format your business proposal consistent with Center for Writing Excellence (CWE) Sample Business Proposal. It shouldnot be treated as a research paper!

 

Option 2: Existing Good (or Service) Business Proposal

 

Select an existing good or service from the Will Bury’s Price Elasticity, Incremental Costs, or Thomas Money Service Inc. scenarios, or select an existing business with which you are familiar.

 

Write a 1,050- to 1,400-word business proposal to improve an existing good or service for your chosen company. Include assumptions about the elasticity of demand and the market structure for the company’s good or service. Analyze data to determine fixed and variable costs.

 

Include rationale for the following questions:

 

  • How will you increase revenue?

 

  • How will you determine the profit-maximizing quantity?

 

  • How could you use the concepts of marginal cost and marginal revenue to maximize profit? What information do you need to determine this? Without this information, how would you make a decision?

 

  • What is your suggested mix of pricing and nonpricing strategies? Explain your answer.

 

  • Can you create or increase barriers to entry? If so, how?

 

  • How will you increase product differentiation?

 

  • Are there other ways to minimize costs for the product?

 

Format your business proposal consistent with Center for Writing Excellence (CWE) guidelines. It should not be treated as a paper!

 

Solution Description

Executive Summary

 

Background

Dove Company is one of the biggest brands of Unilever, and many countries including India, Canada, United States, and Germany manufacture Dove products. More than 35 countries sell Dove products for both women and men (Dove, 2012). Its main products include body washes, moisturizers, deodorants, facial care products, and shampoos and conditioners. In 2004 Dove has attracted the media attention for its marketing strategy by creating a series of ads for Dove showing the beauty of ordinary women (Dove, 2012). The brand’s main competition is Procter & Gamble and Johnson & Johnson that have a similar product range. In 2012 the Dove Company started a new line of products for men, which proved to be successful (Dove, 2012).

 

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