Initial Business Position Initially, our firm’s business position was at a healthy position. In the beginning of the simulation, our overall market share for the automobile industry was 28.2%; the highest in the market. We realized that our primary strength from product contribution came from our economy car Alec with 63.5% market share for economy cars, and from our utility car, awesome with a 48.5% market share for its vehicle class. Thus, it was evident what we needed to do; maintain high market share of our leading cars while conforming our least profitable vehicle class sustainably to coordinate to customer demand.
An Nguyen Dr. John P. Eaton MKT 300 6th December 2014 Marketing Simulation Analysis Paper 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.
Introduction The purpose of this paper is assessing my strategy and decisions in the simulation Biz Café. Then, I will give my results and explain how I got there. However, there were many factors involved creating these results. In this simulation, everything was left up to me to decide how to run my new coffee shop. There were big decisions at the beginning you had to make to create the overall theme of your business. Then, I was to hire employees, buy goods, and act on specials decisions or react to good or bad customer reactions. This, I will explain more in the following paragraphs.
Supply and Demand Simulation ECO 365 Supply and Demand Simulation The Supply and Demand simulation was reviewed on the student website demonstrated the concepts of the concepts of microeconomics and macroeconomics. The principles of microeconomics and macroeconomics were explained and applied throughout the simulation demonstrate the rationale for the shifts in the supply and demand curve. Each shift is analyzed showing the effects of the equilibrium price, quantity, and decision making process for the simulated company represented. The concepts encountered in the simulation provide an opportunity to better understand how each can be applied to my current workplace. The Scenario provides an
Quarter 1 &2 Since quarter one was the first quarter of this simulation, I was unaware of how difficult it was going to be to make all the different decisions. Firstly, I had to choose a Company name. Because I was selling computers, I thought that the name “Dev-Tech” was a perfect fit being that this simulation was about development and technology. Next, I had to choose a target segment. I knew going into this simulation that it would be better to invest in the more expensive goods as it would benefit me in the end. The segment that didn’t care about price was Mercedes, so that is the segment that I made my first priority.
Over the past three weeks in the University of Phoenix Marketing Management class, I have completed three simulations based on real life marketing situations. The first simulation was titled, "Forecasting Market Demand." This simulation discussed the importance of determining the future demand for your product in the voice commanded
B1: BUDGETS The Marketplace simulation helped me realize how complicated and difficult decision making can be when trying to build a company. Among the most important simulation results were utilizing the budgets and pro forma statements. Budgets are beneficial as a financial plan by listing all planned expenses and income. The purpose is to be able to forecast revenues and expenses and create a business model that operates effectively to make sure overhead can be paid.
I believe that this simulation was a great tool in helping us as MBA candidates to see just how companies succeed and/or fail to achieve their growth targets in revenue and profitability. However, an organization heightens the probability of achieving profitable growth whenever it has a clear expansion strategy and a strong execution infrastructure. One without the other impairs the probability of success. I conclude that there are two main reasons for such: 1) inadequate consideration of opportunities within the core business, adjacent to the core business or within new customer sub-segments; 2) an organizational infrastructure that cannot support successful execution.
Week Three Journal This week’s key learning areas have been eye opening and worthwhile. Our game simulation has taught me how to manage the human resources (HR), capacity planning, receiving, production, and shipping departments. One key element that caught my attention was bottleneck issues. Although reputation and meeting goals is important, I must pay attention to the machines that are causing bottleneck issues; performing a cost/benefit analysis can fulfill this. It is necessary to manage mistakes made in strategy during the game, which can resolve issues down the road to have a successful business plan. There were three questions posed in our case study: What are the highest three unit profits?; What are the lowest percentage mark-up items?; and How would you use this in determining your business plan? These key areas will be discussed throughout the journal to express my understanding of the experience.
FINANCE SIMULATION: M&A IN WINE COUNTRY DEBRIEF SLIDES HBP PRODUCT NO. 4807 This PowerPoint presentation was prepared by Professor Timothy Luehrman for the sole purpose of aiding classroom instructors in the use of Finance Simulation: M&A in Wine Country V2 (HBP No. 4805). HBP educational materials are developed solely as the basis for class
MANAGING CUSTOMER SIMULATION The customer simulation exercise of Minnesota Micromotors Inc, was a very intriguing one. It exposed me to a variety of moving pieces that enable a successful business performance across different objectives and parameters. The introductory note on the company and industry was helpful – in that it helped me
Sample Request for Proposal The following sample Request for Proposal (RFP) was provided by NPower Seattle. Please note that the project described here is for example only and should not be reused verbatim. For more information on how to build an effect RFP, please see TechSoup's RFP Library at: http://www.techsoup.org/emcf/rfp Copyright 2003 NPower Seattle. All rights reserved.
Reflection on Business Simulation Course During the business simulation course, we organised a team to become an automotive start-up company and introduced four new products, vehicle models, to satisfy the investors who invested us £500M. Each 4 rounds, we had entered board room to report our initial result and upcoming plans. The
3. How the Marketplace simulation incorporates these challenges into simulation game play; The Marketplace simulation incorporates these challenges by providing student with real-world business problems and roles. Team members are challenged to make decisions and used critical thinking in order to solve this problems virtually. While The Marketplace gives the team the tolls necessary to have effective communication, ultimately each team members contributes to the overall success of the team, just like in a real business situation.