Marketplace Business Simulation, Decisions by Quarter, Strategic Marketing
Decisions by Quarter
Quarter 1: Organize team to do the job.
• Focus on process of working as a team to achieve goals - Assess team members' skills, personalities, and work styles - Set organizational and personal goals - Organize the work - Determine how to manage the organization - Establish leadership
• Determine desired image of company
- Designate a company name
Quarter 2: Evaluate market opportunities, setup operations, and prepare for test market.
• Analyze market opportunities—evaluate segments, geographic markets, and potential competition
• Establish corporate goals and strategic direction - Specify and rank order corporate goals - Write mission statement - Select target segments - Establish strategic direction
• Create customer value—design initial brands for test market - Match components to benefits desired (Quality Function Deployment (QFD))
• Select test markets—setup sales offices
Quarter 3: Go to market to test strategy, and market assumptions.
• Marketing strategy—evaluate tactical options and choose marketing mix - Pricing and price promotions - Sales force management—number employed, training, and incentives - Advertising—ad copy design, media placement, and ad frequency
• Market research—budget collection of information
Quarter 4: Evaluate test market performance and revise strategy, become a learning organization.
• Evaluate performance - Financial performance—profitability analysis - Market performance—customer opinion of brand designs, prices, advertising, and sales force - Competitor tactics—segments targeted and selection of marketing tactics
• Revise marketing tactics as needed, and continue test marketing
Quarter 5: Seek external funding—prepare marketing plan.
• Evaluate performance—financial, marketing, and competitive
• Develop two year marketing plan - Goals—marketing and financial
Quarter 1: Organize team to do the job.
• Focus on process of working as a team to achieve goals - Assess team members' skills, personalities, and work styles - Set organizational and personal goals - Organize the work - Determine how to manage the organization - Establish leadership
• Determine desired image of company
- Designate a company name
Quarter 2: Evaluate market opportunities, setup operations, and prepare for test market.
• Analyze market opportunities—evaluate segments, geographic markets, and potential competition
• Establish corporate goals and strategic direction - Specify and rank order corporate goals - Write mission statement - Select target segments - Establish strategic direction
• Create customer value—design initial brands for test market - Match components to benefits desired (Quality Function Deployment (QFD))
• Select test markets—setup sales offices
Quarter 3: Go to market to test strategy, and market assumptions.
• Marketing strategy—evaluate tactical options and choose marketing mix - Pricing and price promotions - Sales force management—number employed, training, and incentives - Advertising—ad copy design, media placement, and ad frequency
• Market research—budget collection of information
Quarter 4: Evaluate test market performance and revise strategy, become a learning organization.
• Evaluate performance - Financial performance—profitability analysis - Market performance—customer opinion of brand designs, prices, advertising, and sales force - Competitor tactics—segments targeted and selection of marketing tactics
• Revise marketing tactics as needed, and continue test marketing
Quarter 5: Seek external funding—prepare marketing plan.
• Evaluate performance—financial, marketing, and competitive
• Develop two year marketing plan - Goals—marketing and financial