At the beginning of the markstrat simulation

Assignment Help Operation Management
Reference no: EM132106472

At the beginning of the Markstrat simulation, we were given two items, SOFT and SOLO, in the Sonite market. The physical characteristics of the two items were already fixed. The task for us was to manage the two products in the Sonite market and come up with a marketing strategy that would help us to expand the market share and maximize the profits. The two items were different from each other based on weight, design, volume, frequency, and power. The cost of SOLO was higher than SOFT. The total market share for both brands were 28 percent in period 0.In general, our company was out of budget and almost loss all the market share at the end. There are lots of major reasons: we were underproduce at the beginning, captured the wrong coomer segments, used less budget for R&D, started the new product late etc..

The report should include:

1. main strategies pursued 2. key points gleaned from successs and failure during the simulation. 3. recommendation for the future. Please type the answer at least 400 words.

Reference no: EM132106472

Questions Cloud

What is walt disney substitute product opportunites : What is Walt Disney's Substitute Product Opportunites ?
The evaluation methods used within the organization : Explain how the decision analysis model may be used in any organization and what are the evaluation methods used within the organization?
Write an report of markstrat simulation : Write an report of Markstrat simulation? At the beginning of the Markstrat simulation. major lessons personally learned from the simulation exercise.
What are the ethical considerations : What are the ethical considerations in this case from both Ben's and Naomi's perspectives?
At the beginning of the markstrat simulation : At the beginning of the Markstrat simulation, we were given two items, SOFT and SOLO, in the Sonite market.
Market segment enters mature stage of product life cycle : When a market segment enters the MATURE stage of the product life cycle and is familiar to the majority of shoppers in that market
What is your position on what fred told paul : What is your position on what Fred told Paul? What might have led to his comment? Think regarding performance.
Place the order and pay the cashier : A food-truck has one cashier and one cook. Customers first wait in the line to ‘place the order and pay the cashier’,
What are five entrepreneurship trends : What are 5 Entrepreneurship trends (opportunities), briefly describe them in 3-5 sentences in your words with an example of each?

Reviews

Write a Review

Operation Management Questions & Answers

  Book review - the goal

Operations Management is about a book review. Title of the book is "Goal". This book has been written by Dr. Eliyahu Goldartt. The book has been appreciated by many as one of those books which offers an insight into the operations and strategic capac..

  Operational plan in hospitality enterprise

Operational plan pertaining to a hospitality enterprise is given in detail in the solution. The operational plan is an important plan or preparation which gives guidelines regarding the role and responsibilities of each and every operation at all lev..

  Managing operations and information

Recognise the importance of a strategic approach to the development and deployment of organisational information systems. Demonstrate an understanding of the importance of databases and their integration to the organisation's overall information mana..

  A make-or-buy analysis

An analysis of the holding costs, including the appropriate annual holding cost rate.

  Evolution and contributor of operations management

Briefly explain Evolution and contributor of Operations management.

  Functions and responsibilities of an operations manager

A number of drivers of change have transformed the roles, functions and responsibilities of an operations manager over recent years. These drivers have not only been based on technological innovations but also on the need for organisations to develop..

  Compute the optimal order quantity

Compute the Optimal Order quantity of DVD players. Determine the appropriate reorder point.

  Relationship to operations practice in the organisation

Evaluate problems in operations and identify approaches to overcoming them. Critically evaluate operating plans and identify areas for improvement. Justify, implement and evaluate changes to operations in line with modern approaches.

  A make or buy analysis

Develop a report for Figi Fabricating that will address the question of whether the company should continue to purchase the part from the supplier or begin to produce the part itself.

  Prepare a staffing plan

Prepare a staffing plan showing the change of your unit from medical/surgical staffing to oncology staffing.

  Leadership styles in different organizations

Ccompare the effectiveness of different leadership styles in different organizations

  Risk management tools and models

Be able to understand the concept of risk, roles and responsibilities for risk management and risk management tools and models.

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd