Statistics for Decision Making – Fall 2024 – Final

1] Design a comprehensive action plan that outlines the steps you would take to test to develop a new product from idea while ensuring its legal protection, incorporating both intellectual property measures and strategic market entry. [CLO2, Level 6] [8 marks] 2] You wish to start a jewelry shop near DIU to cater to students, faculty, and nearby residents. Outline your ideal customer for the business by indicating the ideal customer profile/persona, including demographic, psychographic, and behavioral characteristics. [CLO1, Level 2] [8 marks] 3] Explain the key considerations when choosing a legal form of organization for a new business. [CLO1, Level 2] [8 marks] 4] Discuss the meaning of venture capital and develop the sequence of its financing stages. Provide an example/visual how it supports your decision. [CLO2, Level 6] [8 marks] 5] Below are 8 business scenarios. Each reflects one of the ninepricing strategies from the three pricing position categories. Choose and write the exact pricing strategy that best matches each scenario. [CLO 3, Level 3] [Total 8 marks for Q5 a-h] a) A new local food delivery app launches in Dhaka offering free delivery and 50% discounts on first 10 orders to quickly attract customers away from existing apps like Pathao Food or Foodpanda. b) A luxury watch brand releases a limited-edition line priced 3x higher than their regular models. The scarcity, premium materials, and designer signature make it a high-status item for collectors. c) A tech startup launches a smart wearable health device with advanced sensors at a very high price, targeting early adopters before gradually lowering the price as competitors enter the market. d) All fuel stations in a region set the same price of petrol at BDT 130/litre to remain competitive, even though operational costs vary slightly from station to station. e) An established smartphone brand repositions itself with aggressive pricing and bundles free earbuds, extended warranties, and data packs that major new brands struggle to match. f) A pharmaceutical company raises the price of a critical cold-season medicine during a severe flu outbreak when supply is limited and demand is at its peak. g) An online magazine offers digital subscriptions at BDT 99 for the first 3 months. Once subscribers are hooked, the price jumps to BDT 399/month for premium archived content and exclusive interviews. h) An event organizer prices seminar tickets just high enough to cover the venue, refreshments, and speaker fees, aiming to break even while promoting future events.