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Aim
We have been given two products to sell, "Product 1" and "Product 2". Product 1 is a product that is already present in the market for a while and Product 2 is new to the market place.
The market region is Mavlandia. This region is divided into 3 parts, but our operation is restricted to two regions only. Region 1 is a larger area with more number of people, and 40% of the people are relatively affluent and is open to new idea where as Region 2 is a smaller area with comparatively less number of people. In this region 20% of the population is relatively affluent and is open to new ideas.
Below is the map of Mavalandia:
Our aim is this project is to sell our two products of the company in these two regions and extract maximum profit out of it. Since we will be graded according to the net income, the focus is to maximize out net income.
To achieve this we have to make numerous virtual decisions that will affect the performance of our company. Decision are as basic as setting up the price of the products in different regions for different products to amount of money to be spent on promotion, advertisements, number of sales persons, commission, managing inventory, spending money on social media and web search engine and so on.
Managing all these properly, will give us a good net income and help us gain a good overall game rank.
Introduction:
At the start of the game, we are suppose to set up the decision, as they are going to be the fundamental framework and base for our company. So, this quarter is the most important quarter. We had a basic approach is this and we clearly had decided what policy we were going to adopt to maximize our income after a long discussion.
Pricing Product 1:
This product was already in the market for a while now, so we had to penetrate the market in an effective way. To achieve our goal, we decided to give our customer the same product with a new feature. This would be something new for the customers and would us help draw
We have been given two products to sell, "Product 1" and "Product 2". Product 1 is a product that is already present in the market for a while and Product 2 is new to the market place.
The market region is Mavlandia. This region is divided into 3 parts, but our operation is restricted to two regions only. Region 1 is a larger area with more number of people, and 40% of the people are relatively affluent and is open to new idea where as Region 2 is a smaller area with comparatively less number of people. In this region 20% of the population is relatively affluent and is open to new ideas.
Below is the map of Mavalandia:
Our aim is this project is to sell our two products of the company in these two regions and extract maximum profit out of it. Since we will be graded according to the net income, the focus is to maximize out net income.
To achieve this we have to make numerous virtual decisions that will affect the performance of our company. Decision are as basic as setting up the price of the products in different regions for different products to amount of money to be spent on promotion, advertisements, number of sales persons, commission, managing inventory, spending money on social media and web search engine and so on.
Managing all these properly, will give us a good net income and help us gain a good overall game rank.
Introduction:
At the start of the game, we are suppose to set up the decision, as they are going to be the fundamental framework and base for our company. So, this quarter is the most important quarter. We had a basic approach is this and we clearly had decided what policy we were going to adopt to maximize our income after a long discussion.
Pricing Product 1:
This product was already in the market for a while now, so we had to penetrate the market in an effective way. To achieve our goal, we decided to give our customer the same product with a new feature. This would be something new for the customers and would us help draw