Marketing Management Simulation

Concentrate on their current clients, broaden and deepen their relationship with them, while maintaining current offerings

Marketplace Business Simulator is an on-line marketing simulation that incorporates all the marketing principles I have learned over the course of this semester and apply them into real world marketing practice. Simulation was used for the sake of instigating effective results and in that regard, this paper analyses the manner in which each quarter was carried through. The circumstances surrounding each of the decisions made are analyzed intricately and hence a manifestation of the impact of each for each of the quarters is laid bare.

In the past business focused only in targeting one type of customer. Now change in the customer buying behavior is inevitable. To be able to succeed companies need to constantly change their target since the buying behavior of customers sways every year. (Docters, 1997)

Recommendation – To improve revenues and margins, the company will have to increase the revenue contribution of every product category. I recommend that the company go into its customer requirements and see if it can cross sell product items, so that it can get more revenue from each customer. This will ensure that the company is able to offer competitive prices to customers and grow its business using its existing customers.

For the past couple of weeks, I engaged in a marketing simulation. This Simulation was extremely fun while challenging as it taught me the right way to advertise and market a new brand, specifically a computer, that you are putting out to the world. The targeted markets were Chicago, Sao Paulo, Paris, and Shanghai. There were three different segments that were related to PC’s and laptops. Those three were Mercedes, Workhorse, and Traveler. Below, I am going to mention what specific decisions I made in each of the six quarters as well as why I made each decision.

To solve this problem, the executives of the company should find a way to attract more customers

Peak Garage Door Inc. has set a goal to increase their sales for 2004. Garage door industry is expecting a growth of 2.4% while the management of Peak is looking to increase company’s sales 26.4%. The company currently has 50 exclusive dealers and 300 non-exclusive dealers. Management has three proposals in front of them. The first suggestion is to increase the number dealers in their existing markets. The second recommendation is to develop an exclusive franchise agreement with existing non-exclusive dealers. The third recommendation is to decrease the number of dealers and focus company’s resources on increasing support for the existing dealers. Of course there is an option for them to leave everything as it is. My

I don’t think that I need to have an extensive sales force in order to be successful. I think the biggest decision that I made in 2015 Q2 was increasing the large customer discounts for segments B and D from 12% discount up to 14% discount. I noticed that last quarter both of these segments expressed their concern that they were not getting the additional discounts that they should for being such long time customers.

* Hence, we decided to increase the sales force percentage time for segment D to 40% and for segment A to 30%. We decreased the sales force time percentage for segments B and C to 15% each. Also, we reduced the list price from $142 to $136.

With the limited staff and limited customer contact, management feels that drastic measures are needed to reach new customers, expand current customer services, increasing understanding of customer desires, increasing the customers'

Marketing strategy is a method of focusing an organization's energies and resources on a course of action which can lead to increased sales and dominance of a targeted market niche. A marketing strategy combines product development, promotion, distribution, pricing, relationship management and other elements; identifies the firm's marketing goals, and explains how they will be achieved, ideally within a stated timeframe. Marketing strategy determines the choice of target market segments, positioning, marketing mix, and allocation of resources. It is most effective when it is an integral component of overall firm strategy, defining how the organization will successfully engage customers, prospects, and competitors in

Ensure timeous customer reviews. This is the best way to increase your cross selling and possible opportunities to extent the clients

In the marketing world, before releasing a product onto the market a company would carry out research in all spectrums to investigate the targeted audience. Once market research is completed, marketing or advertising is carried out so that the targeted consumers can purchase and the company receives an earned profit from sales. Marketing is the management process responsible for identifying, anticipating and satisfying customer requirements profitably (Chartered Institute of Marketing, 2009). Marketing strategies need to tick off consumer needs and demand. Companies follow a set of marketing strategies to be able to achieve their set mission goals. Strategies like segmentation, targeting and positioning of the market is used to analyse the

In terms of Customer, I as the marketing manager have selected the target market as following firstly The Harried Assistants, second, The High-Tech Managers,

You can seek to customer wants and needs as they always will change, this will make your strategy driven by customers which will give a competitive edge over others.