-Read the simulation instructions below and complete the assignment.
Simulation Instructions:
1. The Decision-Making simulation puts players in the role of a marketing decision-maker for a small backpack company. You will research the market for backpacks and choose a promising market segment to target.
2. Then you’ll design a backpack with the goal of matching its style, attributes, and special features to the preferences of that market segment. After setting an initial price for your backpack, you’ll select distribution channels and coordinate an integrated communications strategy to build awareness for your product.
3. The game includes a realistic marketplace in which individual players act as companies that compete against computer-controlled companies. You’ll analyze sales results, collect competitive information, and refine your product, price, place, and promotional strategies in order to maximize results and become a market leader. Each turn represents 1 business quarter.
(In your role as marketing manager, you are responsible for launching a new line of backpacks in a competitive market.)
You will navigate to 6 areas to make these decisions for your simulation.
Before you end your first turn, complete the following:
1. Select your Target Market Segment.
2. Design your Backpack.
3. Set a Price.
4. Choose your Distribution options.
5. Select your Positioning benefit messages.
6. Purchase media Advertising.
-You will be able to change your selections in the 6 areas 6 times, 1 time per turn.
-Each Marketing Mini Sim is comprised of 2 parts, each worth 50% of the total grade. Your tasks in these simulations include:
-Accomplishing a mission goal or set of goals associated with the simulation topic
-Answering a series of questions to demonstrate your understanding of the topic
Regardless of your grade in the simulation, your grade in Blackboard will be determined by the instructor based on your completion of the Assignment described below.
Assignment:
After completing the Decision-Making simulation, create a 7- to 10-slide presentation.
Complete the following in your presentation:
-Describe your results.
-Assess the effectiveness of the use of research and analytics to make your decisions.
-Evaluate 2 of the methods of communication you used and how these methods impacted sales.
-Moving forward, recommend how your company can evaluate business research and analytics to support accountability in planning and decision-making.
