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.
The new management has identified several possible investments for the coming year. It has asked you and your team to evaluate the possibilities and make a recommendation to the board of directors. Jorge has identified an opportunity and assigned you the task of making a recommendation on the investment.
Use any product that a company similar to Vanda-Laye might produce.
Tasks:
Summarize the course project including information you have learned each week.
Analyze marketing factors that can contribute the success or failure of a product for a company such as Vanda-Laye.
Evaluate the role capital budgeting can play in the recommendation of a new product.
Explain how government intervention can impact a new product such as the one you chose.
Justify if the product should be recommended. What were the determining factors in this decision?