Course Project Managerial Economics

Course Project Scenario

You are an economist for the Vanda-Laye Corporation, which produces  and distributes outdoor cooking supplies. The company has come under new  ownership and management and will be undergoing changes in its product  lines and operating structure. As an economist, your responsibilities include examining the market factors that affect success or failure of a  product, including the supply and demand for the product, market  conditions, and the behavior of competitors with similar products.

Your supervisor, Jorge, has assigned you the task of evaluating a new  product. The new product, oven mittens, has several competitors in the  marketplace, but your company will be using a new patented material that  provides protection from heat and maintains a great deal of  flexibility.

Tasks:

• Analyze the goals of the company.  What is an operating structure and how can changes affect a company?
• Evaluate what information is needed to assess the market factors that will make this product a success of failure.
• Explain the basic supply and demand aspects that will make the product a success or failure.

Submission Details:

• Submit a 2-3 page Microsoft Word document, using APA style. 100% original, no plagiarism.