Markstrat

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Student Handbook
The Alfred H. Heineken Chaired Professor of Marketing INSEAD

Jean-Claude Larréché

The Claude Janssen Chaired Professor of Business Administration and Professor of Marketing INSEAD

Hubert Gatignon

Partner, Director of R&D STRATX International

Rémi Triolet

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Publisher: STRATX International

Production: Minute Man Press, Cambridge, Massachusetts Cover Design: Synergy Network, Waltham, Massachusetts Marketing Manager: Lucy Jacobus

Development Team: Rémi Triolet, Christophe Pottier, Aurélien Dauvergne Copyright ©2003 by Jean-Claude Larréché, Hubert Gatignon MARKSTRAT is a registered trademark of STRATX International ALL RIGHTS RESERVED Software © 2003 by STRATX International

No part of this book may be reproduced in any form, electronic or mechanical, without the prior permission of the publisher. ISBN# 0-9743063-0-4 Version – 2.0

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Contents
Introduction __________________________________________________________ vi Questions and Technical Support_____________________________________ vii About STRATX________________________________________________________ viii

1. Registration and Software Setup_____________________ 1
1.1 1.2 1.3 The Registration Process _______________________________________ 1 Downloading and Installing the Team Software __________________ 3 The PRACTICE Industry _________________________________________ 4

2. The Interface Menu ________________________________ 5
2.1 2.2 2.3 Markstrat Online Overview ______________________________________ 6 Opening a Markstrat Online Session _____________________________ 7

Closing a Markstrat Online Session _____________________________ 11

3. Overview of the MARKSTRAT World __________________ 13
3.1 3.2 3.3 3.4 3.5 3.6 3.7 3.8 Your Role _____________________________________________________ 13 Overview of the MARKSTRAT World ____________________________ 13 Sonite Products _______________________________________________ 14 Vodite Products _______________________________________________ 15 Naming Conventions __________________________________________ 17 Vodite Customers _____________________________________________ 19

Sonite Customers _____________________________________________ 17 Distribution Channels _________________________________________ 19

4. Managing Your Firm ______________________________ 22
4.1 4.2 4.3 4.4 4.5 4.6 Production ____________________________________________________ 23 Communication _______________________________________________ 25 Pricing ________________________________________________________ 24 Sales Force____________________________________________________ 26 Research & Development ______________________________________ 27 iii

Ordering Market Research Studies _____________________________ 26

4.7

Marketing Budget _____________________________________________ 28

5. Understanding Your Annual Report _________________ 29
5.1 5.2 5.3 Industry Newsletter ___________________________________________ 29 Company Report ______________________________________________ 30 Market Research Studies_______________________________________ 35

6. Making Decisions ________________________________ 38
6.1 6.2 6.3 6.4 6.5 6.6 6.7 6.8 6.9 The Simulation Process ________________________________________ 38 Group Dynamics ______________________________________________ 38 Markstrat Online Main Screen __________________________________ 39 Brand Portfolio Decisions ______________________________________ 40 Production, Price & Advertising ________________________________ 42 Market Research Studies_______________________________________ 45 Research & Development ______________________________________ 47

Sales Force and Distribution ___________________________________ 46 Checking your Decisions ______________________________________ 49

6.10 Validating your decisions with the Marketing Plan Tool__________ 51

7. Positioning and Research &...
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