Marketing Simulation

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.

All-star Brands Corporation is one of the leading manufacturers of packaged goods in the world. The Pharmaceutical Division manufactures and markets both ethical and over-the-counter (OTC) medications to help improve human health. The mission of All-star is to provide both the consumer portion of the market, with products that help improve human health and also the internal environment of All-star. We are striving to produce cutting edge remedies for the common cold and allergy symptoms, while maintaining the highest market share, with opportunities and beneficial work with a satisfying yield of return.

Create a new positioning statement for your product, and provide justification for your new positioning strategy.

We spent $1,245,000 on advertising this period, $50,000 more than the previous year. We found out we spent so much on advertising but the spread of spending on different media outlets were incorrect. As a result, we would allocate our spending differently for 2017. A large amount should be put into magazines and none into internet. According to the market research, magazines are the most effective method path in reaching customers. Furthermore, we increased our spending on branding from $250,000 to $275,000. We increased branding for this year in hopes it will continue to enhance overall brand awareness. As a result, we spent $25,000 more on branding for this year. However, the firm in first place spent almost double in branding compared to ours and it has clearly done the trick. Our company will continue to discuss branding spending moving forward. One problem that cost us this year was the increased price of the mountain bike. The price of $775 was the most expensive and we did not see the increase in sales we were

For the past eighteen months, Jayar corporations has had an exceptional financial stability. Fortunately, our corporation did not go bankrupt throughout the year and a half in existence. For each quarter, our company strategized in competition by looking at the best way to change and refurnish our products to exceed other companies. Our most competitive strategy in selling microcomputers was to make sure we surpassed the exceptional price for the buyers. The prices for our products were by far the number one best prices from the other four companies. While with marketing and manufacturing Jayar corporations was always comparing the favorite ads by buyers and the best manufactured computers; Every quarter we consistently

The product release date of product Able & Abby led to both a positive and negative performance. Overall, both products maintain an inconsistent sales level throughout the years. In year one, low –tech and high-tech segment presented a total industry and sales demand of $5,554,000 and $2,592,000. Comparatively, low-tech products dominated the market with a total industry sales and demand of 68.1% and high-tech 31.9%. Additionally, the company actual market shares of sales held steady against the potential market share with a minimum difference of 3% (16.9%-17.2%). Moreover, the company product, Able, was originally position within both market segments but I made the decision to transition the product by 12/17/16 to cater more to customers that

Joe Schmoe was the former VP of marketing. Joe thought he was doing a good job of managing the business in regards to the sales price, product development, and lifecycle management. Unfortunately for Joe, other were not as confident in his abilities to effectively navigate the product life cycle phases. Joe earned the skepticism towards his management style because he treated each product as if they were in the same phase of their life cycle. The three models of tablet computers are definitely in a category of consumer goods definitely follow the lifecycle phases rather well. The X7 model for example was found to be in the market introduction stage. The other models, the X6 and the X5, were found to be in the growth stage and the maturity stage. It is obvious that the three product lines should not be treated equally and this simulation will present an example of an alternative to the management of this product line.

Time has warped again, which allows me an opportunity to utilize the cost, volume and profit analysis to develop a new plan for the next four years. The strategy is to maximize profit for the Clipboard Tablet Company for the next four years. After accessing the strategy from 2012-2015, we will calculate variable cost, variable cost per unit, contribution margin, contribution margin per unit, contribution margin ratio, break-even point in sales dollars and break-even point in units sold to fine tune our strategy. Below is the strategy matrix with the year-by-year decisions made based on price and R&D allocations.

The Clipboard Tablet Company produces high quality tablets and operates within the technology industry. This industry is consistently changing given the market demands of its rapidly evolving technologies and customers’ demands on new technologies. This is why the Clipboard Tablet Company has quickly adapted to the needs and demands of it’s consumers by providing high quality tablet products year after year. Given the market demands and analysis I will provide an analysis that encompasses the market demands by comparing the former Vice President (VP) of marketing, Mr. Joe Thomas’ decisions and my proposed alternative strategy that uses Cost Volume Profit (CVP) analysis. I will compare and analyze the Clipboard Tablet

To survive in the global and competitive business environment, it is essential for a company’s to vconduct extensive research so that they can develop a strong brand image from the initial stage as it leads to greater financial benefits for the company. The marketing plan of Orange’s oPad is the topic where an effective marketing strategy is developed to ensure its success in the global competitive market where major plays such as Sony, Compaq and Dell have a significant impact upon Orange’s strategies. Orange’s latest oPad is the revolutionary product which is a portable mini device used as a pc anywhere with its wide range of options and innovative design.

Joe Schmoe, the former VP of marketing, had felt that he was doing a good job of managing sales price, product development, and research allocations. Unfortunately for Joe nobody seem to agree with him who understood the product life cycle phases. Joe was content with treating each product as if they were in the same phase of their life cycle. Although not all products and services seem to strictly follow life cycle phases, the three models of tablet computers do in fact seem to follow the phases rather well. The X7 model for example was found to be in the market introduction stage. The other models, the X6 and the X5, were found to be in the growth stage and the maturity stage respectively. It is obvious through careful analysis that the three product lines should not be treated equally.

If you are working in a super market, what techniques/ tools you will use in data collection. How are you going to analysis the data and make inferences? How will you finally apply your market research to improve sales and win over customers?

Marshall/ Johnston in Marketing Management 2001 referred marketing planning as the ongoing process of developing and implementing market-driven strategies for an organization and the resulting document that records the marketing planning process is the marketing plan.

According to Hudson (et al., 2009) many destinations sell themselves by revolving around the same concept, namely the destinations’ icons which have as main focus the physical characteristics of that destination (for instance nature or sea, sun, and sand) (Hudson et al., 2009). In addition, the messages conveyed to the audience are generic, meaning that the idea of escape and discovery is at its core (Hudson et al., 2009). However, in order to differentiate on the market place, some destinations have changed the focus, meaning that rather than making use of the physical attributes a destination has, the experiences a destination could provide to consumers were instead regarded. As a consequence, it could be argued that consumers’ emotions became the target, as the conveyed messages of the offered experiences have the aim and also a direct influence on potential consumers’ emotions (Hudson et al., 2009). The term used to describe the new marketing approach is called ‘experiential marketing’, being a ‘relatively new marketing orientation proving a contrast to traditional marketing’ (Hudson et al., 2009) (which refers to the initial approach marketers applied, namely high focus on a destination’s physical attributes) (Hudson et al., 2009).

Gilligan & Wilson (2009), define marketing planning as logically establishing of marketing objectives and formulating plans to achieve them.