Marketing Management Simulation

Topics: Sales, Customer service, Marketing Pages: 4 (1667 words) Published: August 26, 2013
Marketing Simulation 2012 Q4
Kaplan University
MT 450-01

Marketing Simulation 2012 Q4
Preparing a marketing strategy can be difficult if a business does not understand what customers to target and what they are wanting in the products or services. Listening to customer’s reviews of the company and products or services will help determine what direction of marketing the business should focus on. According to, Winer and Dhar (2011) marketing is a set of activities designed by an organization when changes have to be made that help to influence choices of customers that will initially benefit the organization. Marketing is used to do research and determine what society and customers want out of products or services and then find a way to make changes and decisions that will satisfy the customer. This is accomplished by implementing a marketing strategy that helps to identify the objective(s), customer targets, competitor targets, core strategy, and marketing mix that will be most beneficial to the company.

Minnesota Micromotors is a medical motors device manufacturer that has suffered a decrease in sales during the third quarter (Q3) of 2012. As the new Chief Executive Officer (CEO) it is important for me to develop a new marketing strategy that will focus on the issues at hand and determine what needs to be accomplished to turn it around and become a better competitor in the market. The total revenue between the second quarter (Q2) and Q3 decreased by 1.01 percent with all the loss generating from the revenue from our large customers while the revenue of our small customers increased by .01 percent (Narayandad, 2013). To determine what needs to be adjusted and fixed I reviewed other financial statements and then I listened to recordings of customer satisfaction surveys. By listening to the customer’s feedback on their experiences it has given me a better understanding of what changes the company needs to focus on and in what direction to move.

Our...
Continue Reading

Please join StudyMode to read the full document

You May Also Find These Documents Helpful

  • KElloggs Marketing Plan Essay
  • Hp Discovers Marketing Essay
  • Hpa Industries Marketing Plan Essay
  • Essay about Marketing Mix and Their Problems with Examples with Sou Lotions
  • Marketing Mix Can Attract and Satisfy Target Markets Essay
  • Marketing Management Essay
  • marketing Essay
  • Essay on Marketing Management

Become a StudyMode Member

Sign Up - It's Free