Marketing Simulation: Managing Segments and Customers Prepare Tab Video Transcripts How to Play Video and Initial Customer Interview Videos “How to Play” Audio Script In this simulation‚ you are the newly appointed CEO for Minnesota Micromotors‚ a medical motors device manufacturer. You must determine the company’s overall marketing strategy and make critical decisions around Minnesota Micromotors positioning relative to ever-changing market segment needs and behaviors. These include setting the
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Thorr Motors Simulation Heather Sanchez MKT/421 July 20‚ 2011 Theodore Framan Perceptual maps help to improve a company’s current product on the market by mapping consumer expectation of the product. The motorcycle company Thorr Motors perceptual maps were used to create a marketing plan to aid in maintaining a high brand image of their motorcycles. This paper is based on the three phases in the Thorr Motors simulation. The situation‚ recommended solutions‚ and result for each phase will
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REV: MARCH 2‚ 2012 The Orthopedic Motor Market: Minnesota Micromotors‚ Inc. and Brushless Motor Technology Minnesota Micromotors‚ Inc. (MM)‚ based in Minneapolis‚ was a manufacturer of brushless‚ direct current (BLDC)1 motors used in orthopedic medical devices. Devices utilizing MM’s motors were typically used by orthopedic surgeons in large bone surgery‚ reconstructive surgery‚ trauma surgery‚ and sports medicine procedures. MM sold approximately 97‚000 motors a year and had a 9% share of the $137
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the data under analysis reveals the changes in pricing strategy over the duration of the 6 simulations. When specific reference is made to the Unit Price it can be noted that for the first 3 simulations the Unit Price for the backpack‚ targeted primarily towards Urban Computers‚ was $45. But‚ in the 4th and 5th rounds of sales‚ the Unit Price was decreased to $34. Lastly‚ in the 6th and final simulation of analysis the Unit Price was decreased to a final price of $28. Analysis of the Price Score
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Overview Our company Orange experienced a very successful campaign and grew more profitable over the six quarters throughtout the Market Simulation. In terms of market share in comparison to the competition‚ we placed fourth holding 12 percent market share. We initially targeted the Mercedes market‚ and later developed products aimed at the Traveler and Workhorse clientele. In terms of profitability‚ we suffered a loss moving from Quarter 1 to Quarter 2‚ which is typical of most early-stage companies
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Tarikua Lakew MT450 Instructor: Joseph Wright Unit Four Assignment November 10‚ 2014 Market Simulation analysis for Minnesota Micromotors‚ Inc. My quarter one marketing strategy was focused on increasing the sales‚ the market share and number of units sold for existing and new small customers segment. The reason behind this strategy was that approximately 70% of Minnesota Micromotors‚ Inc.’s. revenues were generated from customers that placed large-volume orders. The small customers segment
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Graduate Lab Lab 1 :- Introduction to LabVIEW LabVIEW (short for Laboratory Virtual Instrument Engineering Workbench) is a system-design platform and development environment for a visual programming language from National Instruments. It uses a graphical programming language called G to produce its code. LabVIEW is commonly used for data acquisition‚ instrument control‚ and industrial automation on a variety of platforms including Microsoft Windows‚ various versions of UNIX‚ Linux‚ and Mac
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Marketing Strategy for Decision Making Final Individual Assignment Reporting on the lessons learned from the simulation exercise 2012 Marketing Strategy for Decision Making Final Individual Assignment Reporting on the lessons learned from the simulation exercise What have I learned…? About marketing strategy: segmentation and positioning Sometimes it’s not so important that your product fits the exact needs of the segment you target; rather‚ it’s vital that customers perceive that
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MKTG6020 Reflection on Simulation (Individual 30%) The important part of the simulation assignment is what you have learned from it. As such you will be required to reflect on the decisions you made and the outcomes. Some questions to help you structure and undertake this task are listed below‚ this is not an exhaustive list as they may be something in your experience that you feel is more important. You must provide rational for your decisions with reference to theory and explain what you
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Strategic marketing simulation reflection I was so struggling with making strategies about how to increase the profit margin. It was challenging because it could not be solved by simply offering more discounts to increase the unit sales‚ or by increasing the motor’s price to receive high revenues. Besides those factors‚ the change of profit margin also involved the spending on features and the strength of sales force. Any one of them changed could lead to a significant difference in the change
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