You are applying for a managerial position at an innovative and rapidly growing

Question

You are applying for a managerial position at an innovative and rapidly growing company. This is a dynamic company that wants an individual who adds value to the organization. Managers at this company wear many hats, so the position requires managing products, people, and financial aspects of running the company. As part of the interview process, you are required to make a presentation covering four different topics, one per module for this course. You choose the company and the new product that you want to showcase in your presentation. It can be real or fictitious (based on an industry). This is for background purposes only. The presentation is to showcase your abilities and what you can contribute to the organization. IBIS World (access on the Portal through the Online Classroom & Library, Additional Library Resources link) and BizStats have estimates of cost of goods sold and some other categories of operating expenses. Information about contribution margins is not available, but adding new products typically mean incurring both fixed and variable costs. Consequently, cost of goods sold is a reasonable estimate. Net operating income as a percentage of sales or some variation thereof may also be relevant if the new product is expected to contribute significantly to the bottom line. As a candidate for a position you would not have internal information available, but being resourceful and being a skilled researcher are desired traits for the position. IBIS World also has a wealth of other market statistics that may be helpful. Use listed background material and other resources as needed.

Required:

Include the following items in your presentation.

Present an idea for a new product.

Describe the product.

Show some cost estimates and pricing suggestion for this product based on research.

What approach would you use to determine selling price (for example cost plus or target costing)? It is important when choosing a design.

Explain your rationale for the pricing approach.

Show expectations of growth and potential profit.

Explanation / Answer

Presentation

Good evening, I see people having problem with their pen they are not able to write for a long time as their pens are uncomfortable. So, I'm very passionate about my work, what so ever I do. I want to present my thinking about a new oroprod that will change the vision towards the writing with a "Pen". My new Product is a "GM Pen". Yes, this create a new trend towards writing with a pen. It's the most comfortable pen to write as it have a extra coushin near the finger tips and advanced technology to make writing easy like itsi flowing on the paper. It' s innovative design is according to the new trend that attracts eyes so much that everyone will wanting go buy it. It's refill lasts longer and this pen helps to maintain a good hand writing while writing for a long time. This pen will make history as people will love this innovative thinking. Especially the students as they are the ine who have to write so long for their notes and other things. The SP ( Selling Price) can be of this pen around $2 normal lens cost around $1 but as itsi comfortable and good to maintain a good hand writing people will love it. The Cost of this pen will be around 80 cents and advertising per pen will 20cents so we will make around $1 profit per pen. We have to advertise good as to make an impact on people mind as this is the best and comfortable pen to write. We have to target mostly to students. So, our advertising moto should be to impress students so that they buy our pens. The profit of one pen will be around $1 so it's around 100% profit per pen sold. The vision is clear to show people a good pen with more comfortable, better, writes like a flow, better design, innovative thinking, better, refill, waterproof ink, and great handling that itsi the prodyct they wnat to write with.

Related Questions

Navigate

• Browse (All)
• Browse Y
• Subjects

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.