What is the most widely used marketing segmentation

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Reference no: EM131897267

Project - GoVenture Game- Micro Business: Popcorn and Snacks Cart

This project provides an opportunity to learn the fundamentals of running a small business and apply the principles of the course in a fun game format. In your business, you will make critical decisions on a daily basis. Per the syllabus requirements, you will purchase a subscription key to the game. Read these guidelines thoroughly before beginning the game.

Performance Report Analysis Assignment -

I. Marketing

A. What is the process of dividing a market into groups with similar characteristics?

B. What is the most widely used marketing segmentation?

C. Why is target marketing important?

II. Pricing

A. How did you decide on what prices to offer for your products?

B. What pricing objective did you use? How does the textbook describe this pricing objective?

C. Provide the 5 different examples of pricing objectives from the textbook?

III. Financial & Accounting Information

A. What is the purpose of the balance sheet?

B. How does this relate to the fundamental accounting equation?

C. What is the purpose of the Income Statement?

D. What is the difference between gross profit and Net Income?

E. What is meant by the term "bottom line" with reference to income statement?

IV. Micro Business Performance Report

Analyze the performance report to describe the ending results of your activities over the past several "virtual" days. Answer the following questions:

A. What was your Net Profit/loss Before Taxes (take this from the performance report)?

B. From the daily recap on the bottom of the performance report, is business improving, declining or was there mixed results-explain?

C. What were some of the adjustments that you made that improved your outcome and why did those adjustments work? Be specific.

D. What were some of the adjustments that you made that worsened your outcome) and why did those adjustments not work? Be specific.

E. Did you gain any insights from this simulation?

Attachment:- Assignment Files.rar

Reference no: EM131897267

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len1897267

3/12/2018 1:46:41 AM

Read these guidelines thoroughly before beginning the game. Due dates listed here are tentative, refer to the Canvas assignment for updates. To practime If there is any part of this project that you don’t understand, ask. This project is worth 150 points. This assignment will require detailed analysis. For this assignment, make sure you understand the differences between, Gross Profit, Net Profit and Net Profit after taxes. I will accept this assignment late, however there is a 10% point penalty for each day late up to 4 days. The Performance Report Analysis is worth up to 130 points. Your grade will be based on completeness of answers, references to KEY textbook concepts and detailed analysis.

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