User Account

All Pages

Why did you make your initial choices in the simulation

Assignment Help Marketing Management
Reference no: EM133203526 , Length: 1 page.

Assignment: The Best Option I Made for The Food Truck Simulation

Learning Objectives:

1. Students will learn how to apply strategy and analysis in a rapidly changing environment.

2. Students will learn the challenging tradeoffs that entrepreneurs/decisions-makers face in business

3. Students will learn the difference between effective and ineffective market strategy

4. Students will have an opportunity to practice making key decisions that entrepreneurs/decision-makers face when adapting to market changes.

Instructions:

The Food Truck challenge provides students with an opportunity to play the role of an entrepreneur in the city of Boomtown. Students will work individually to determine the ideal combination of product and location to maximize revenue for their business. They have menu (product) choices:

• Ice Cream
• Frozen Yogurt
• Smoothies

Students must decide where to locate their food truck by choosing from among locations in Boomtown. As the game simulation begins, Students should review basic market data, including information about the city and its residents, as well as, past trends regarding consumption of the above products.

Students will face a choice:

• You can open a food truck right away, conduct additional market research instead
• Or begin by operating a pushcart

During each round, students can modify their choices. Students will have stimulated weeks to operate their business, and they should attempt to generate the most revenue during that time period. The simulation ranks students against others in the class throughout the week period.

There are no right or wrong scenarios - please have fun and make the best, financial decision for your new business!!

Upon completion of the game simulation, please provide a 1-Page response to the following questions:

A. Why did you make your initial choices in the simulation? What was your decision-making rationale?

B. How did you assess the market feedback and modify your choices as time progressed in the simulation?

C. If you chose the pushcart option, why did you do so? What made it difficult to pursue this option?

D. If you chose the research option, what motivated that decision? What were the challenges associated with conducting additional research?

E. If you chose to operate the food truck rather than the pushcart, what was your rationale?

Reference no: EM133203526

Questions Cloud

Protect the company from liability : BUL 4310 Pennsylvania State University - Discuss one moral and one ethical breach by the company and provide a suggested remedy that would protect the company
How that individuals approach to leadership conforms : How that individual's approach to leadership conforms or diverges from the model presented by Kouzes and Posner.
The spiral of silence theory : Choose three (3) of the following theories/models and thoroughly explain each of the three chosen:
Receiving the message of equal educational opportunity : What do you feel is the best way to deal with the problems in our classrooms discusses in the readings or recent current events?
Why did you make your initial choices in the simulation : Why did you make your initial choices in the simulation? What was your decision-making rationale? What made it difficult to pursue this option?
Development prospects-future trends of china energy industry : Harvard University - To understand the development prospects and future trends of China's new energy industry in the context of the new era
Way to wealth by ben franklin : Read "Way to Wealth" by Ben Franklin. (Amazon- ISBN 10: 1434442381) Take notes on the essay as you read. Mark aphorisms that stand out to you and note why he wa
Brief description of the literacy materials : What are two literacy materials that would be appropriate for secondary students in ELA?
Explain the main issues discussed in the article : Explain the main issues discussed in the article titled as "Intuitive and Rational Cognition in the Theory and Practice of Management Sciences"

Reviews

Write a Review

Marketing Management Questions & Answers

  Integrated marketing communication

Developing an IMC plan of Amazon that aims to create awareness and knowledge amongst Singaporean  consumers of the ethics involved in buying clothing made from Bangladeshi factories  .

  Multiple choice questions on e-commerce

The assignment in Computer Science or Information Technology is about multiple choice questions, particularly in e-commerce. Questions such as types of e-commerce websites, commercial websites, disintermediation, Platform for Piracy, the data that ca..

  Balanced scorecard for red lobster

The assignment in marketing is about Red Lobster, which is one US and Canada's most loved seafood restaurant. It has hundreds of outlets in US and Canada and it now wants to expand further. The approach adopted by Red Lobster has been discussed in fu..

  Marketing plan - marketing audit, swot and smart report

The assignment in marketing is about preparing a marketing plan. As part of marketing plan, the SWOT analysis, assessing the competitive position, identifying critical competitive issues, marketing objectives, strategy and actions have been suggested..

  Marketing plan

Marketing deals with preparing a marketing plan for either an existing product or a new product. Various aspects about launching a new product into the market are discussed ranging from the industry the product belongs to, goals and vision of the com..

  Yamato corporation analysis - harvard case study

Please refer to the PDF for the Case Study and questions.The case study from Harvard Business School is about Yamato Corporation, a parcel delivery company which provides door to door delivery in Japan.

  Marketing plan - create a new product

The assignment in marketing is about competitive analysis for a new product namely "heated insoles". These heated insoles can be put in shoes and they can protect the wearer's feet by keeping them warm during cold winters.

  Report on digital marketing strategy for a website

Promotion strategies of  the one's own developed website

  Integrated marketing campaign of mccafe

Integrated marketing campaign for McDonald's McCafe. McCafe has been launched in Canada. This is a case study which involves the use of digital marketing and social media marketing apart from regular marketing such as TV and radio. All these more are..

  New product development at adidas

In this paper, the researcher also determines the different kind of practices used by Adidas to manufacture shoes for its customers.

  Managing services in competitive environment

Services can be defined as separately identifiable, intangible activities which provide want-satisfaction when marketed to household consumers and/or industrial users.

  Prepare a marketing plan

A marketing plan is an essential tool for any marketer, providing direction for a brand, product or organization. A marketing plan describes the marketing environment, marketing objectives and marketing strategies.

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!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

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