1Q. The Simulation game mainly made me understand to all aspects of modern marketing. It allowed me to develop and implement a complete marketing strategy which includes production design, pricing, budgeting, distribution, and sales force management. Throughout the rounds, I tried to understand the information on customer needs as well as on customer satisfaction with brands, prices and budgeting. It made me discover how the actions reflect in firm profitability as well as brand. Through the game I learned to prepare the projection of sales and to analyze the basic statements of accounting. I studied how competitive tactics should and adjust according to marketing strategy to stay ahead of the competition. The game allows students to strategize
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The marketing department is probably the most essential function in Capsim. It mainly deals with the pricing, marketing & sales budget as well as the company’s sales forecast, which will be shown in Proforma Income Statement. Initially, we should price the Low End at the bottom third of the price range, traditional at middle range and the High End/Size/Performance at max price. Coming to promo budget, it raises the product's awareness while Sales budget increase the product's segment accessibility. For sales forecast, we should not use the computer prediction but except for the round 1 may be. So for this, we should read the courier document, look at the product's segment and take total industry unit demand value and multiply it by the (1+growth%) to know the demand next year. After this, go to the report called market share by looking at that product's potential market share. By calculating this percentage multiply by the industry demand next year will give an idea on how many units we gonna sell. Of course this depends if we can maintain the same percentage of buying criteria and whether the competitors improve or not. Finally, based we can make financing decisions based on the projected profit/loss. That’s why I feel that marketing section plays a vital role in making decisions in other departments of the Capsim …show more content…
The game was loaded with excitement and about critical learning. In our classroom discussions, many times we have talked about how strategic management works well. While playing game, I couldn't just apply my lessons from the subject course, additionally could see the outcomes in the Capsim simulation markets. To win the simulation game, I followed some of the strategies. Initially I took all types of loans. These loans are used in the beginning rounds to fund the R&D and new automation section. We should release products in all of the segments so that they can form a diagonal on the perceptual maps of the high and low tech items. In general, one item ought to be launched every year till year 5 High tech items dispatched at first would gradually move to low tech sections. Continue launching more up to date ones in cutting edge. At the production automation, slow increment to 10. This is critical to build contribution margins which are extremely useful in later stages of the game. The sales forecast can be controlled by taking the aggregate of potentials for every portion of the product. Since, I'm interested in accounting, I did well in the finance department. I simply raise as much money as I can through Issuing the Stock, Current and Long Term Debt for first three rounds. I give no dividends in any rounds. Whenever cash available, we should buy back the shares which would increase the share price significantly. At each round, we should keep an eye on Balanced score
The marketing department is probably the most essential function in Capsim. It mainly deals with the pricing, marketing & sales budget as well as the company’s sales forecast, which will be shown in Proforma Income Statement. Initially, we should price the Low End at the bottom third of the price range, traditional at middle range and the High End/Size/Performance at max price. Coming to promo budget, it raises the product's awareness while Sales budget increase the product's segment accessibility. For sales forecast, we should not use the computer prediction but except for the round 1 may be. So for this, we should read the courier document, look at the product's segment and take total industry unit demand value and multiply it by the (1+growth%) to know the demand next year. After this, go to the report called market share by looking at that product's potential market share. By calculating this percentage multiply by the industry demand next year will give an idea on how many units we gonna sell. Of course this depends if we can maintain the same percentage of buying criteria and whether the competitors improve or not. Finally, based we can make financing decisions based on the projected profit/loss. That’s why I feel that marketing section plays a vital role in making decisions in other departments of the Capsim …show more content…
The game was loaded with excitement and about critical learning. In our classroom discussions, many times we have talked about how strategic management works well. While playing game, I couldn't just apply my lessons from the subject course, additionally could see the outcomes in the Capsim simulation markets. To win the simulation game, I followed some of the strategies. Initially I took all types of loans. These loans are used in the beginning rounds to fund the R&D and new automation section. We should release products in all of the segments so that they can form a diagonal on the perceptual maps of the high and low tech items. In general, one item ought to be launched every year till year 5 High tech items dispatched at first would gradually move to low tech sections. Continue launching more up to date ones in cutting edge. At the production automation, slow increment to 10. This is critical to build contribution margins which are extremely useful in later stages of the game. The sales forecast can be controlled by taking the aggregate of potentials for every portion of the product. Since, I'm interested in accounting, I did well in the finance department. I simply raise as much money as I can through Issuing the Stock, Current and Long Term Debt for first three rounds. I give no dividends in any rounds. Whenever cash available, we should buy back the shares which would increase the share price significantly. At each round, we should keep an eye on Balanced score