Our course has focused on marketing and its relationship to entrepreneurship. The creator of a new product or service who intends to establish it as a marketable venture has to consider several aspects as they attempt to get the business opportunity going.
Your final exam will be in an essay format based on a hypothetical scenario. A grading rubric is provided to help you structure your responses and the more your content adheres to the rubric, the better the score.
THE FINAL EXAM “The Ponce Deleon Drug”:
You are the marketing manager for Ydnar Drugs, a pharmaceutical company that was founded in 1935. In 2000, Brad Marchand, one of your top chemists and researchers while conducting routine tests on one of lower selling drug products accidentally discovers when combining that drug with another drug your company produces, the resulting compound showed promises of slowing the aging process. Over the past 12 years, Marchand has tested and evaluated the compound and the results conclusively prove that in all cases, the drug does indeed slow/retard the aging process. Testing has been conducted on volunteer human subjects over the past six years with no evidence of side effects. Marchand while pleased with the results is not necessarily convinced the drug going by the name “Sniurb 13” is totally safe for human consumption and use. He discusses the pros and cons of bring the drug to market with company CEO, David Krejci. Krejci sees an opportunity to make a major financial score with the drug and insists that it be brought to market. Despite his objections, Marchand follows orders and the company announces the drug is in the final stages of testing and when it passes FDA regulations within the next 5 years, Sniub 13 will come to market. The public initially warms to the idea of an “anti-aging” drug and some even begin to refer to it as the “Ponce Deleon” drug after the explorer who searched for the “Fountain of Youth”.
Successful entrepreneur and venture capitalist, Jennifer Compton expresses interest in investing in the manufacture and sale of the drug for a guaranteed 10% of the gross sales revenue both foreign and domestic. Your assignment is to discuss the pros and cons of bringing the drug to market and draft a memorandum to Krejci explaining the position the company should take.
This final exam essay should contain 250-500 words and cover issues relative to the launch of this new product and how it should be marketed, if you agree that it should come to market and identify the challenges/rationale, if you disagree. You may wish to use course’s weekly assignment headings as a way to develop your response and again, keep in mind the requirements of the grading rubric. The total value of the exam is 24 points and submission is due by the end of the day Monday.
Final Exam Grading Rubric
THESIS and CONTENT (Development)
The essay has a thesis—a single, central point that is interesting, original, striking and substantial. The central idea is developed in the essay through well-chosen, appropriate, concrete details that show originality and freshness. Author shows rather than merely tells. Generalizations and assertions are defended. Arguments are logical.
The essay is organized and well structured (there is a beginning, a body, and a conclusion). The essay exhibits a clear strategy for persuasion and pattern of development (chronological order, spatial order, comparison/contrast, etc.). The organization works with the thesis so that the thesis and the organization contribute to serving the purpose of the essay. Essay does not digress from central point. Transitions help the paper flow smoothly. Introductory paragraph(s) is (are) interesting and appropriate. Concluding paragraph is satisfying.
Paragraphs are organized, unified and coherent. Each supporting paragraph has a controlling idea (which may be expressed in a topic sentence). In supporting paragraphs, topic idea helps further the thesis.
Sentences are mature and parallel. Writer avoids modifier problems. Sentences show variety of pattern and are rhetorically effective. The essay is written in a style and tone appropriate to the audience, topic and purpose. Words are appropriate and well chosen. Writer avoids jargon and sexist language. Writer seems to be speaking in an authentic voice. Paper is enjoyable and interesting.