Preview

Marketing Simulation

Powerful Essays
Open Document
Open Document
1770 Words
Grammar
Grammar
Plagiarism
Plagiarism
Writing
Writing
Score
Score
Marketing Simulation
Marketing Simulation: Managing Segments and Customers Prepare Tab Video Transcripts How to Play Video and Initial Customer Interview Videos “How to Play” Audio Script In this simulation, you are the newly appointed CEO for Minnesota Micromotors, a medical motors device manufacturer. You must determine the company’s overall marketing strategy and make critical decisions around Minnesota Micromotors positioning relative to ever-changing market segment needs and behaviors. These include setting the list price and segment discounts, determining sales force allocation, setting the marketing budget and allocating money to product development. When you first log-in, the “Prepare” section provides you with basic information on Minnesota Micromotors and how the simulation works, including specific information regarding your scenario. Note, that there is a downloadable PDF file you can print if you’d like a reference guide on how to play. Make sure to review the Foreground Reading and view all of the Customer Interview videos contained on this page before beginning the simulation as they provide crucial background information on company and industry trends and data. The “Analyze” section presents numerous sources of information to help you make your marketing strategy decisions every quarter. The simulation begins in quarter 4 of 2012. You will begin with three quarters of historical data to analyze and, as CEO, you need to make quarterly decisions affecting company marketing over the next 13 quarters. The timeline on the right side of the screen will track your progress throughout the simulation. The Dashboard is a great place to start your analysis. It provides a high level view of your market share broken down by segment, quarterly revenue, unit sales, profit margin, net prices and spending on features. In order to make informed decisions for your strategy, review the details contained in the Analyze subscreens. The Net Prices screen shows both your price history and your
Continue Reading
View Writing Issues

You May Also Find These Documents Helpful

  • Better Essays

    Marketing Simulation
    • 1993 Words
    • 8 Pages

    Marketing Simulation

    Our company Orange experienced a very successful campaign and grew more profitable over the six quarters throughtout the Market Simulation. In terms of market share in comparison to the competition, we placed fourth holding 12 percent market share. We initially targeted the Mercedes market, and later developed products aimed at the Traveler and Workhorse clientele. In terms of profitability, we suffered a loss moving from Quarter 1 to Quarter 2, which is typical of most early-stage companies. However, each quarter thereafter we were able to maintain a profit, ending with $18,270,122 gross profit and $15,232,910 operating profit. Our six computer models are the driving factor behind such success. These models include The Motherboard, Babyboard 2.0, Horseboard, Superboard, Toddlerboard, and The Ponyboard. The Superboard, out of all the models, was our most profitable device with $6,303,840 in profit. We also embarked on a major expansion endeavor, spreading our brand originally from Chicago to Paris, Shanghai, and Sao Paulo. Our knowledgeable sales force comprised of 60 individuals, coupled with our extensive advertising and competitive pricing allowed Orange to rise to the top.…

    • 1993 Words
    • 8 Pages
    Better Essays
    Read More
  • Good Essays

    Minnesota Micromotors Inc. Case Analysis
    • 1009 Words
    • 5 Pages

    Minnesota Micromotors Inc. Case Analysis

    As a newly appointed CEO of Minnesota Micromotors, Inc., I am responsible for designing the company’s marketing strategy, “This includes determining all aspects of the company’s go-to-market approach and associated elements of product policy, including pricing and market positioning of the company’s orthopedic motor line. ”(Harvard Business Publishing, 2014). MM is a member of a mature, saturated and highly competitive Orthopedic Motor market, such that every decision needs to be deliberate and appropriate, carefully assess the organisation’s competitive position that of its competitors and to get sustainable competitive advantage and provide superior customer value. This paper will use one quarter of marketing decision as example, providing the detailed reallocation of resources and analysing the result.…

    • 1009 Words
    • 5 Pages
    Good Essays
    Read More
  • Good Essays

    Mkt/421 Using Perceptual Maps in Marketing Simulation Summary Essay Example
    • 973 Words
    • 4 Pages

    Mkt/421 Using Perceptual Maps in Marketing Simulation Summary Essay Example

    In the simulation I was a marketing manager for Thorr Motorcycles. I was faced with three different situations. In order to decide on the right actions to take in the situations I had help from three co-workers; Benjamin Bao (Chief executive officer), Chris Winter (Chief engineer), and Meredith Kiligore (Vice President Brand communication). This paper will reflect on the situation individually, my decision, and the suggested advice.…

    • 973 Words
    • 4 Pages
    Good Essays
    Read More
  • Better Essays

    Supply and Demand Simulation
    • 1020 Words
    • 5 Pages

    Supply and Demand Simulation

    In the supply and demand simulation a neighborhood called Atlantis is given for the setting. Atlantis is a small city with open spaces, low population, and a low crime rate. There are plenty of sidewalks and street systems for easy access to the highway. The housing in Atlantis is detached homes and apartments. The supply and demand simulation consists of microeconomics and macroeconomics. The simulation presents shifts in the demand and supply curve, equilibrium, price, and quantity.…

    • 1020 Words
    • 5 Pages
    Better Essays
    Read More
  • Better Essays

    Supply and Demand Simulation
    • 1195 Words
    • 5 Pages

    Supply and Demand Simulation

    The Supply/Demand simulation involves acting as property manager for GoodLife Management in the fictional town of Atlantis. GoodLife Management manages seven apartment complexes in Atlantis. The property manager is expected to adjust the monthly rental rate of two-bed rental apartments and the quantity of apartments supplied based on the market trends. Factors that influence the supply and demand for apartments include personal preferences, economy, income, and rental rates. Each of these factors affect the ratio of vacant and occupied apartments. Decisions regarding supply, demand, and price require careful evaluation. Regular monitoring of supply and demand is necessary to remain competitive in a crowded rental market. As the community grows, GoodLife must make adjustments to remain viable in the real estate industry.…

    • 1195 Words
    • 5 Pages
    Better Essays
    Read More
  • Powerful Essays

    Practice Marketing Simulation Paper
    • 1186 Words
    • 5 Pages

    Practice Marketing Simulation Paper

    An individual analysis of the marketing decisions made by Team 45F throughout turns 1 to 2 in the practice marketing simulation. In particular this report will focus on the selection of advertising mediums throughout the initial phase of product launch.…

    • 1186 Words
    • 5 Pages
    Powerful Essays
    Read More
  • Good Essays

    Supply and Demand Simulation
    • 819 Words
    • 4 Pages

    Supply and Demand Simulation

    A simulation was conducted to understand supply and demand when renting out apartment homes. This paper will briefly explain two microeconomics and two macroeconomics principles, it will include one shift of the supply curve and demand curve in the simulation. For each of the shifts the affect of the equilibrium price, quantity, and decision making will be analyzed. A description of supply and demand from the simulation and how to apply it in the workplace is included. Concepts of macroeconomics will be explained, and how understanding the factors that affect shifts in supply, and demand on the equilibrium price. In addition an explanation of how price elasticity of demand affects a consumer’s purchasing and firms pricing strategy will be included.…

    • 819 Words
    • 4 Pages
    Good Essays
    Read More
  • Good Essays

    Supply and Demand Simulation
    • 977 Words
    • 4 Pages

    Supply and Demand Simulation

    According to Colander (2010), states that Demand can be defined as “Quantity demanded rises as price falls, other things constant. Or alternatively: Quantity demanded falls as price rises, other things constant.” And on the other hand Supply…

    • 977 Words
    • 4 Pages
    Good Essays
    Read More
  • Good Essays

    Supply and Demand Simulation
    • 765 Words
    • 4 Pages

    Supply and Demand Simulation

    The rental company continues to have surplus of apartment but to rent them the rental rate would have to be reduced. In the fourth scenario it explains that Lintech has move to Atlantis, which increase the city of Atlantis population. The increase demand for apartments have increased, this will increase the rate of rent. Because the rental is higher, but this is a demand and supply increase, and the 2,350 apartment would have been rented for the price of $1,400.…

    • 765 Words
    • 4 Pages
    Good Essays
    Read More
  • Powerful Essays

    Marketing and High End
    • 14746 Words
    • 59 Pages

    Marketing and High End

    1. When opening the Excel version of Capstone®, you should do what to Macros? a. Enable b. Disable c. Engage d. Disarm e. Does not matter If there are two identical products, one that has 100% accessibility and one that has 0% accessibility, a. the one with 0% accessibility will not sell at all because consumers can’t find it. b. the product with 100% accessibility will outsell the other 2 to 1 providing all other attributes are identical. c. the one with 0% accessibility will not sell at all because consumers do not know of it. d. the product with 0% accessibility will only sell after all other products have sold in that segment. e. the product with 100% accessibility will outsell the other 3 to 1 providing all other attributes are identical. How many products does every team start with? a. One product b. Four products c. Ten products d. Five products e. None of the above What are three of the five Segments? a. Traditional, Low End, Performance b. Traditional, Low End, Cost End c. Low End, High End, middle End d. Median, Size, High End e. Performance, Size, Cost A segment manager’s task is to a. decide which products enter the segment. b. verify the products entering and leaving a segment, the margin potential for those products, capacity level and the distribution system as compared to competitors. c. review margin potential for each segment and evaluate the capacity for each segment compared to the competition. d. evaluate the capacity for each segment based on total demand and the competitor’s capacity; evaluate the margin potential of all products and the distribution systems. e. none of the above. What is the difference between the market segments at the beginning of the round to the final round? a. They all drift at an average rate of .7; down and to the right. b. The fine cuts overlap in the beginning and in year 8; only the rough cuts overlap. c. The fine and rough cuts overlap in the beginning and by round 8 neither the fine nor…

    • 14746 Words
    • 59 Pages
    Powerful Essays
    Read More
  • Powerful Essays

    Introduction To Marketing Simulation Paper
    • 2153 Words
    • 9 Pages

    Introduction To Marketing Simulation Paper

    Introduction to Marketing [MKTG 2201Custom Edition]. Note that purchasing the paper edition also gives you an access code to the online edition. The custom text is a combination of Marketing: Real People, Real Choices, 7th Ed. By Solomon, Marshall and Stuart and Marketing, An Introduction,11th Ed. by Armstrong and Kotler. ISBN 10: 1-256-76448-5…

    • 2153 Words
    • 9 Pages
    Powerful Essays
    Read More
  • Satisfactory Essays

    Marketing Game
    • 334 Words
    • 2 Pages

    Marketing Game

    Trading partner of the Green Island had more capital than labor. The country benefited as a result of trading internationally and specialization. Ohlin argues that not all members in a country gain from specialization, for example, the capitalists. In case of hiring more workers and reducing capital to produce goods, it will result to increase in wages and a lower income to the capitalists.…

    • 334 Words
    • 2 Pages
    Satisfactory Essays
    Read More
  • Satisfactory Essays

    Marketplace Business Simulation, Decisions by Quarter, Strategic Marketing
    • 370 Words
    • 2 Pages

    Marketplace Business Simulation, Decisions by Quarter, Strategic Marketing

    Decisions by Quarter Quarter 1: Organize team to do the job. • Focus on process of working as a team to achieve goals - Assess team members' skills, personalities, and work styles - Set organizational and personal goals - Organize the work - Determine how to manage the organization - Establish leadership • Determine desired image of company - Designate a company name Quarter 2: Evaluate market opportunities, setup operations, and prepare for test market. • Analyze market opportunities—evaluate segments, geographic markets, and potential competition • Establish corporate goals and strategic direction - Specify and rank order corporate goals - Write mission statement - Select target segments - Establish strategic direction • Create customer value—design initial brands for test market - Match components to benefits desired (Quality Function Deployment (QFD)) • Select test markets—setup sales offices Quarter 3: Go to market to test strategy, and market assumptions.…

    • 370 Words
    • 2 Pages
    Satisfactory Essays
    Read More
  • Powerful Essays

    Team Leadership
    • 1203 Words
    • 5 Pages

    Team Leadership

    This memorandum outlines the team’s approach that supports the company’s overall strategic plan to enter a new market segment. Each team member will be assigned to work separate parts of the plan. I will carefully evaluate each member and match the assignments using the results from the personality assessments and individual leadership styles. This will ensure, in a sense that the right person is assigned to execute the tasks. Market expansion brings both opportunity and a considerable amount of risk. The talents of each team member will be leveraged to ensure that the organization’s goals are effectively and efficiently accomplished. “Investing the appropriate level of resources in market analysis, selection, and entry method can create a foundation for success in the chosen market (www.inc.com)."They suggest, and I concur with following five steps to assess properly the opportunities and risks of a new market:…

    • 1203 Words
    • 5 Pages
    Powerful Essays
    Read More
  • Good Essays

    Simulated Test Market
    • 1088 Words
    • 5 Pages

    Simulated Test Market

    The methodology of a Simulated Test Market can typically be broken down into five steps. First, respondents are selected to provide a sample of consumers who satisfy predetermined demographic characteristics. Next, consumers are shown commercials or print ads for the test product as well as ads for competitor’s products. Then, consumers are given the opportunity to purchase, or not purchase, the test product either in a real or simulated store environment. After they’ve had the opportunity to use the product, consumers are re-contacted in effort to determine the likelihood of repurchase, as well as other information relative to the use of the product. Finally, this information is processed through a computer and various other programs that assess the data; in order to, generate outputs such as estimated sales volume and market share.…

    • 1088 Words
    • 5 Pages
    Good Essays
    Read More

Related Topics