BranchingSims ResultsReport 6

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RESULTS REPORT Date: 5 June 2015 Name: MT Course: MKT 571 Instructor: John Hawes SIMULATION TITLE: Product Life Cycle SIMULATION DESCRIPTION: Holden Evan is creating its own brand of hot sauce, Burnin\ ' Rock, using exotic peppers sourced through fair trade. As product brand manager, your task is to successfully introduce the new product into the marketplace, and manage the brand through the product life cycle. You earned 100 percent. DECISION SUMMARY You chose to place Burnin\ ' Rock in health food store chains and the organic food sections of supermarkets. This was the best choice for reaching your target demographic. You chose to use the best ingredients. This was the best choice, since it was consistent with the product…show more content…
What would be a reasonable figure? You chose OPTION 2 $6 million Adjusting Promotion Now that you are in the growth stage, how should you adjust the amount of your budget for promotion, compared to the launch year? You chose OPTION 2 Keep promotion spending the same Adjusting Prices The CMO is pleased so far and wants to know how you plan to adjust prices in response to growth. You chose OPTION 2 Keep prices the same Sustaining Growth Now it\ 's year three. The CEO wants to know your plan for sustaining market growth. You chose OPTION 2 Create new lines of the product, such as different flavors and different degrees of heat. Rewards The CMO is pleased. \"You\ 've achieved sales of $32 million a year, with profits of $9 million a year. Great job! You\ 'll be getting a big bonus this year.\" Maturity It\ 's five years later, and sales have reached a plateau. The product is clearly in the maturity stage. What should you do to increase sales? You chose OPTION 3 Modify the market by finding new users for the product. Maintaining Sales Burnin\ ' Rock has reached maturity. Sales growth is slowing down. Competitors are numerous and have introduced products that are better, or cheaper, or more aggressively marketed. What will you do to keep sales up? You chose OPTION 1 Find alternative markets and new customer uses for Burnin\ ' Rock. Alternative Uses After some market

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