Simulation Reflection Paper

Over the past three weeks in the University of Phoenix Marketing Management class, I have completed three simulations based on real life marketing situations. The first simulation was titled, "Forecasting Market Demand." This simulation discussed the importance of determining the future demand for your product in the voice commanded software industry. The marketing team for the new Listensoft software needed to accurately forecast the production capacity of the new product and the pricing strategy. This task is especially difficult because human behavior is difficult to predict. Forecasting behavior "…is about generating numbers out of expectations, opinions, statements, prior patterns and a host of other subjective elements" (Forecasting Market Demand, 2005).
The second simulation was titled "Service Added Based Differentiation." This simulation discussed the importance of differentiating the new Camyo sports car in a mature market to increase sales and profitability. The current sales were 75,000 units per year, which was only 7% of the market share. The goal for the marketing team was to increase double the sales of this automobile within three years, while still maintaining
5-8% profitability.
The final simulation completed was "Channel Development and Pricing." This simulation discussed the effectiveness of distribution channels and analyzed the importance of pricing to impact sales while expanding the Add Computers market share globally. Add Computers was looking to expand their retail and distribution market to include the sale of notebook computers in England. Currently before launching this product the notebook market in England encompassed 2 million units per year sold. Add Computers was estimating the first year of launching the computers in the United Kingdom would yield sales of 160,000 units. This would give Add Computers a market share of 8% while maintaining a 6% profit margin.

Forecasting Market Demand My results for this simulation were

References: Channel Development and Pricing. (2005). Retrieved Nov. 21, 2005, from University of Phoenix MKT 551 eResource page. Forecasting market demand simulation. (2005). Retrieved Nov. 21, 2005, from University of Phoenix MKT 551 eResource page. Kalakota, R. (n.d.). Do or die: market segmentation and product positioning on the . Retrieved Nov. 21, 2005, from http://crec.mccombs.utexas.edu/res/articles/segmentation.html Web site: . Kern, R.A., Hartley, S.W., Berkowitz, E.N, Rudelius, W., (2005). Marketing. [University of Phoenix Custom Edition e-text]. The McGraw-Hill Companies. Retrieved October 26, 2005 from University of Phoenix, Resource, MKT/551 – Marketing Management Web site: https://ecampus.phoenix.edu/secure/resource/resource.asp Service Added Based Differentiation. (2005). Retrieved Nov. 21, 2005, from University of Phoenix MKT 551 eResource page.