Description
The purpose of this final assignment is for you to reflect on your experience with the marketing simulation and what you learned about marketing strategy’s use of the 4 P’s.
Overview
This assignment summarizes your experience with the Introduction to Marketing simulation. You should review your marketing planning documents on product, prices and place.
Assignment
Part One: Introduction
Introduce the reflection by stating what team you were on and summarizing your team’s outcome in the simulation.
Part Two: Prompts and Guiding Questions
Please answer the following prompts and guiding questions regarding your marketing simulation experience:
Product
Who was the target market? What type of segmentation was used?
What features did your carbon fiber bicycle include?
How did you position your product?
Did you change the product in the simulation and if so, why?
Price
What pricing strategy was implemented?
Explain whether or not it was successful.
Explain whether or not your company made money.
Place
What distribution strategy was used (this includes geography)?
How many retail outlets were opened? Why?
Explain whether or not this strategy was successful.
Promotion
What promotion strategy was used?
Explain whether or not this strategy was successful.
Was it difficult to determine what media to use?
Was it difficult to determine what message appealed to your target market?
How did you determine the size of the salesforce?
How did the salesforce contribute to the success of your company?
Competitive Forces
How did the competition affect your decisions?
Did marketing research reports give enough information to make good decisions?
Final summary and conclusion
How did the marketing planning documents help shape your decisions within the simulation?
If you played this simulation again, would your decisions be different?
If the answer is no, explain why?
If yes, explain what would be different?
