Sample Engineering Essay on Can the company succeed without thorough scientific proof?

Can the company succeed without a thorough scientific proof?

Yes. This is because there is a large market for beauty treatment therapies and surgeries with people both desperate and normal seeking to have a younger and more beautiful face. Based on current studies, majority of the devices and treatments currently in use have some form of adverse side effect on the patient, but this device has so far received no complaints or problems.

Is the cost of this product reasonable?

Maybe. At a price of $55000 and a treatment price for each patient at $500, it would mean that the device would need to be used 110 times before the cost value can be recovered. In an average, office facility serving 10 different patients per month using the device, this cost value can be realized in 11 months time, assuming that none of the customers return, which would result in a smaller time. However, despite these positive figures, the effectiveness, longevity, and viability of the product are still uncertain. This means that one is not assured of purchasing a product that would serve his needs, last for a long time, or have any useful properties.

Can the annual quantity be estimated, if so how?

This is difficult without statistics on current treatment on wrinkles around the eyes.

How would you handle the marketing strategy of this product?

Using available media, such as the internet, television, social media, print ads in health magazines, and networking with fellow doctors through seminars. Secondly, I would identify the target market demographics such as age, health, or gender to structure my marketing campaign or methodology effectively and productively.

How should this company approach the manufacturing? Should it design the manufacturing system that produces these products?

The company should not design the manufacturing system for the product since it would be too costly and could result in the production of products that do not meet the industry, consumer, and medical standards. However, it should write up a confidentiality contract with the manufacturer to avoid the device’s technology being leaked to outsiders.