Engineering Skin Lotions-Abstract

Engineering Skin Lotions-Abstract - Engineering Skin...

Info icon This preview shows page 1. Sign up to view the full content.

View Full Document Right Arrow Icon
Engineering Skin Lotions Curtis Baade and Shamara Manora Executive Summary In this work we apply a recently proposed methodology for product design to the case of engineering skin lotions, a project inherited from previous years. A consumer satisfaction model is constructed and used to engineer the lotion that maximizes consumer satisfaction. Such a formulation turns out not to be the most profitable formulation. Thus, a pricing model is used to find a formulation that maximizes profit. From the preference model that was created, it was found that a perfect product is economically feasible, however is not the most profitable product that can be produced. A demand model was then created to find a more profitable solution. The demand model maximizes NPW while changing the demand as well as the ingredients and their concentrations. From the demand model the preference was found to be 61% with an ROI of 7700%. This is still higher than the competitor’s preference of 51%. From the risk analysis, it is seen that the demand has the
Image of page 1
This is the end of the preview. Sign up to access the rest of the document.

{[ snackBarMessage ]}

What students are saying

  • Left Quote Icon

    As a current student on this bumpy collegiate pathway, I stumbled upon Course Hero, where I can find study resources for nearly all my courses, get online help from tutors 24/7, and even share my old projects, papers, and lecture notes with other students.

    Student Picture

    Kiran Temple University Fox School of Business ‘17, Course Hero Intern

  • Left Quote Icon

    I cannot even describe how much Course Hero helped me this summer. It’s truly become something I can always rely on and help me. In the end, I was not only able to survive summer classes, but I was able to thrive thanks to Course Hero.

    Student Picture

    Dana University of Pennsylvania ‘17, Course Hero Intern

  • Left Quote Icon

    The ability to access any university’s resources through Course Hero proved invaluable in my case. I was behind on Tulane coursework and actually used UCLA’s materials to help me move forward and get everything together on time.

    Student Picture

    Jill Tulane University ‘16, Course Hero Intern