Example Of Marketing Simulation

Improved Essays
In this marketing simulation game as a group, we experience success and failures through trials and tribulations learning how to compete in technology world bringing quality products to customers across the world. We had to study the market from our competitors to know how to adapt to the market and also how to reach customer needs and wants. We researched the marketing field to make a decision on what the initial market segment we wanted to target in. In which we collectively chose our target sections to get involve in because it represented the common businessman technology that has a high value of quality at an affordable rate. Next started to open sales offices where we believe our products will thrive in the markets to increase our popularity …show more content…
Each quarter we learn quality information on our up and downs in the market on how to succeed in the next quarter and what mistakes to not make again. The adjustments we made, for the most part, resulted in an improvement in our market demand, growth in sales, and operation profits. It was highly favorable and needed for us to adapt to the market by modifying our brands or making new brands that fit different needs and wants for particulars customers to be more diversified. In this marketing simulation game, we always knew there was room for improvement, so we tried our best to revised strategies to keep up with the steady market. Our performance in the marketing simulation game seems like it was a steady up and down hill motion because any tiny mistakes we made us lose money, potentials customers, false leads in the advertisement, over production in manufacturing, unpopular rebate fees and etc. is what we experience in the game. The most important thing we collectively learn does not let one mistake get the best of us, but stay researching the market and competitors on how to be successful when modifying our …show more content…
It was vital that we familiarize the marketing and sales efforts to precisely reach the segment of the population that will most likely be able to buy our products and service. We had to define what audience will be our primary customers and is the market measurable for us to grow, adequately large and reachable. Shanghai, China was the next place we collectively chose because the market there were very functional in Workhorse and Mercedes target segments. At the given time we chose to open a place in China we were not successful as we predicted to be, so we wanted to open a place that was affordable for us to be successful in. Last we open in Sao Pablo, Brazil to more diversified internationally once again an affordable price. It was important for us as a company to expand our brand worldwide and learn valuable lessons how to run a business in different country’s dealing with different

Related Documents

  • Improved Essays

    HSC Business Task Role, influences,Strategies a. Identify and briefly outline the main influences on operations management (outline each influence and how they impact on the operation function) Globalisation Globalisation is indicating to the improvement of technology and communication in the merging of world economies into a single market. This allows the trade and nations to become more connected which results of the concept of “smaller place. It is considered as significant in operation management as it increases the positioning of the large business in the global market with providing the needs of global consumers. The global costumers aim for universal brand and tend to pursue standardised products, which impacts the operation function.…

    • 787 Words
    • 4 Pages
    Improved Essays
  • Improved Essays

    Capsim Simulation Essay

    • 691 Words
    • 3 Pages

    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.…

    • 691 Words
    • 3 Pages
    Improved Essays
  • Improved Essays

    Urban Commuter Case Study

    • 474 Words
    • 2 Pages

    I choose to target the Urban Commuter market because of their high market size, growth rate, retention level and average price level compared to the other markets. The market size was important because I want to ensure that I would have a sufficient customer audience to purchase my product. Additionally, I wanted a target group with a high growth rate to create similar customers as each quarter progressed. I tailored my product to match their needs such as their need for comfort, capacity, and product to be waterproofed. I created my blue backpack with the highest comfort and capacity based on the materials and features provided.…

    • 474 Words
    • 2 Pages
    Improved Essays
  • Decent Essays

    I-Tech Executive Summary

    • 223 Words
    • 1 Pages

    Unquestionably, our company’s marketing mix allowed I-Tech to make decisions that expanded growth and to fulfill our mission/vision of our company. Admittedly, the marketing mix our company utilized is product, price, promotion, and place (distribution), which is called the four Ps, in business. For instance, our three computer products targeted a specific segment of the market such as Mercedes, Travelers, and Workhorse. Furthermore, I-Tech wanted to design the products based on the customer's needs at the price the customers are willing to pay. However, in order to implement this strategy of marketing, our company had to purchase marketing research every quarter to keep up the market trends and control other competitive firms.…

    • 223 Words
    • 1 Pages
    Decent Essays
  • Decent Essays

    Enertea And Rush Strategy

    • 162 Words
    • 1 Pages

    In the simulation we only had our distribution channel in USA and our prime target was to gain brand equity over taste conscious consumers in USA. Our major primary competitors were companies that targeted taste conscious consumer and they were Enertea, Power hour and Rush with score of 69%, 75% and 100% respectively in taste on 8th period. However, we were able to rank higher than Enertea and Rush because of higher brand awareness which made us quite different. Although, we had low brand awareness and fell behind ranking from teams like Rush Energy, RoadRunner and Aquavent.…

    • 162 Words
    • 1 Pages
    Decent Essays
  • Improved Essays

    In round 4 of the simulation, Erie lost ⅘ stars. The positioning of the production schedule slider affected the star outcomes heavily. Erie lost the emergency loan, contribution margin, profit, and stock price stars. Erie had two products by round 4, and both contributed to star loss. The product Eat was set at 2,300 units.…

    • 987 Words
    • 4 Pages
    Improved Essays
  • Improved Essays

    Land Rover Case Study

    • 995 Words
    • 4 Pages

    EVALUATING LANDROVER MARKETING STRATEGY IN CHINA Over recent years, Land rover, owned by Tata Motors ltd. has experienced a major boom in profits and earnings from sales of its products in china. This is as a result of exploring the UK- CHINA bilateral business relations. The UK in CHINA is strongly associated with the values of traditional, upper class, high performance, reliability and trustworthiness. Land rover has been successful, taking utmost advantage of the avidity for British products.…

    • 995 Words
    • 4 Pages
    Improved Essays
  • Great Essays

    In the past few years, Brazil had gotten their hyperinflation under control and it was estimated to be 8% in the future. Brazil was the second largest trading partner with the US and the nation’s economy was going to be the sixth largest in the world by 2015. For Wiley and the automobile industry Brazil’s 3-4% growth rate in the next few years presented a great opportunity given its influence in the Latin American economies. Other advantage and disadvantages of locating its operations in Brazil included: Advantages High number of diverse and skilled industrial workforce.…

    • 810 Words
    • 4 Pages
    Great Essays
  • Great Essays

    This report provides an analysis of the distribution expansion for Tom Ford brand. The research draws attention to the fact how Tom Ford brand became global brand, growth of its retail network and distribution methods it uses on COO market and the Global market. In introduction, you will be able to read overview of the brand, and the recent successes, developments and some issues that brand has during last three years, and three-year change of the retail network.…

    • 1782 Words
    • 8 Pages
    Great Essays
  • Improved Essays

    The competition for firms now is won due to a company’s business model and its adaptability or ability to change in a rapidly changing industry. Companies have to adapt these days in order to compete…

    • 1382 Words
    • 6 Pages
    Improved Essays
  • Great Essays

    Before 2005, the functions were spread over U.S., Latin America, Asian Pacific, Europe and Japan. However, Trend Micro had changed the organizational structure as years passed as a response to many external factors and the changes of needs and wants of customers. The organization realized that the continents and countries working separately didn’t work efficiently, so they decided to make it a “translational company” and take the world as a whole for better results. This is when this company decided that the financial headquarters is going to be located in Tokyo as has a stable and low costs funds, the product development in Taiwan as there was sufficient number of workers with Ph.D. degrees; and the sales and market department are located…

    • 1790 Words
    • 8 Pages
    Great Essays
  • Improved Essays

    INDIVIDUAL REFLECTION: BLUEPRINT FOR PROFESSIONAL AND PERSONAL GROWTH Kinyata Barnett Walden University Prior to this course I only knew basic information regarding marketing. I now know that there are many aspects involved with the marketing process. In order to build a success organization, one must chose the correct marketing tools that would benefit their company. I have learned that every method does not work for all.…

    • 996 Words
    • 4 Pages
    Improved Essays
  • Improved Essays

    One of the reasons why companies expand internationally is to have access to new markets. One such global company, who this writer happens to be very familiar with, is an automobile dealer group called Weins Canada, which is a wholly-owned subsidiary of Weins Group in Japan. The company got its start in 1956 with its first dealership network, called Yokohama Toyopet. The company’s founder, Kanji Miyahara Sr., saw an opportunity to diversify and, potentially, to add exponential growth in profit to his company by opening a Toyota franchise in Canada.…

    • 789 Words
    • 4 Pages
    Improved Essays
  • Great Essays

    Doing Business In France

    • 1336 Words
    • 6 Pages

    Before the company makes the final decision to expand its operations to other countries, there are number of factors that need to be considered. The success of the business in a foreign country depends mainly on how much preparation was done prior to the expansion. If care is not taken, it can be a flop and can cost the company huge amounts of money. On the other hand, expanding to another country can open new opportunities for the company. Activity A Brunt management is in the process of opening another business firm in another country by taking over the already existing business.…

    • 1336 Words
    • 6 Pages
    Great Essays
  • Improved Essays

    While many lessons can be learned from this case study the most important less that has been learned is that businesses who operate globally need to do extensive research and need to be flexible to other…

    • 807 Words
    • 4 Pages
    Improved Essays

Related Topics