group project

APA FORMAT PLEASE.

SEE ATTACHED FOR DETAILS. sample powerpoint attached

JUST NEED PRICING AND DISTRIBUTION STRATEGY. FOR GROUP PROJECT.

THANK YOU.

Group Course Project (100 Total Points)

Practice Marketing Simulation

After the first week of class students will be assigned to a team for the remainder of the course. Teams will then work together on the parameters and decisions of the Practice Marketing simulation for the remainder of the course. Practice Marketing is a computer simulation game where teams have the opportunity to apply the concepts learned in the class, as well as analyze the business, and make marketing decisions in a real-time scenario. More importantly, students will have the ability to immediately see the impact of their decisions on the success of the business in the marketplace.

Teams of 3-4 people will take on the role of the senior marketing team for a new company that makes backpacks. A total of five teams will be created from the class to compete against each other as well as a control team run by the computer simulation. Each team will have ability to see the decisions and results for each of their competitors for target market selection, product development, pricing strategy, distribution strategy, and promotional strategies and elements. Teams will input their decisions online prior to the decision deadline posted on course homepage. After decisions are input, the computer will tabulate the results of your decisions and provide a host of market data that will include sales, profits, advertising, product specs, etc. for each of the teams. After analyzing the results, teams will then make appropriate adjustments for the next round of decisions. At the end of the game, a winner will be determined based on the computer-generated results. We will discuss the results, learning, issues, etc. as part of your final presentation.

During the final week of class, each team will make a formal presentation. These presentations will be as your final opportunity to convince the instructor of your approach and what you learned from the simulation experience. Presentation should be about 15 minutes in length, and should cover the following elements at a minimum:

· Target audience overview / description / rationale for selection

· Product characteristics / rationale / fit with target audience

· Pricing strategy / rationale

· Distribution strategy / rationale

· Promotional strategy / key elements

· Key changes made from the initial decisions to the final approach / rationale

· Key learnings from the exercise

PROJECT REQUIREMENT

In this course we will be using Practice Marketing, an online marketing simulation

This will be used in the course project which will be done in groups. You will need the access code that came packaged with the book or you may purchase the access to the simulation online. The URL to register for the simulation is:

http://www.mhpractice.com/course/38220/section/54338/join

Once you have registered for the simulation, wait for further instructions. You will be assigned into a game at a later date. If you encounter problems, please contact technical support at

http://www.mhhe.com/support

or 1-800-331-5094.

TEAM PRESENTATIONS

Team presentations of the simulation experience can be scheduled any time after the completion of the simulation. These presentations can be presented online or in a classroom on campus. This decision is up to the team. They will need to be completed prior to March 10. The presentation should represent the collaboration of all team members. Presentation format will be up to the discretion of each team. The following rubric will be used to grade this assignment:

· Content / Completion of Assignment

· Depth of Analysis

· Support for key conclusions / implications

· Quality of recommendations

· Organization and Presentation

· Organization and logical flow of presentation

· Use of appropriate business style and verbiage

· Effectiveness in the use of technology

· Quality of prepared slides

· Transitions from one team member to another

· Professionalism

· Clarity of presentation

· Poise in dealing with questions from the class

· Overall management of the presentation

This assignment provides the students with an excellent opportunity to experience a true learning experience. You will combine the concepts from the class with critical thinking skills, team skills, and real decision-making responsibility to effectively bring the material to life.

Practice Marketing Simulation

Team 1:

Ohio Dominican University

Target Audience Overview
Initial Target Audience: School Children
Largest population with room for growth
Tested audience response in practice simulation
Final simulation competition was steep
Final Target Audience: Luxury Trend Followers
Switched target audience and product
Existing Team had strong market share of customer base
Population small but competition limited

Product Design & Characteristics
Backpack for School Children
Followed customer insights closely
Focused on style preferences, function and production price
Backpack for Luxury Trend Followers
Design based on customer insights and knowledge of competition’s product
Product appeared to be direct competition to existing market products but undercut the price

Pricing Strategy

School Children

Price: $39.00

Simulation Practice

Luxury Trend Followers

Price: $89.00

Cost Leadership Strategy

Distribution Channels

School Children

Direct Distribution

Discount Retail Chain

University Store

Online Discount Retailer

Department Store

Distribution Channels

Luxury Trend Followers

Direct Distribution

High End Outdoor

Fashion Boutique

Online Discount Retailer

Department Store

Promotional Strategy
Positioning message to school children:
Initially used “fun” to target schoolchildren, and “lightweight” and “great value” to target their parents
Removed “great value” for turn 4
Positioning message to luxury trend followers:
Initially used “luxurious” and “classic”
Streamlined to “luxurious” for turn 9

Promotional Strategy
Spending on promotion
Entering into promotional agreements during practice rounds was of little benefit, money seemed better spent on advertising
No promotional agreements were employed when targeting school children
During turn 9, and in an effort to promote sales, promotional agreements were utilized with all distribution channels except for the fashion boutique

Promotional Strategy
Utilizing promotion activities was of no value
increased number of sales through some channels by 1-2%, but overall sales did not increase
Market share dropped from 14% in turn 7 to 12% in turn 8
Market share rank dropped from 3 to 4

Promotional Strategy
Current/final advertising strategy
No advertising was done during turn 10 in an effort to reduce loss, improve our profit margin, and ultimately increase our score

Key Changes
Rationale for key changes made from initial to final decisions
Initially targeted school children because it was successful in individual and group practice rounds
Changed to luxury trend followers in an effort to undercut the leading team and take their market share

Key Learnings: Timing
Timing of making changes is important
Made change from schoolchildren to luxury trend followers too late in the game
Timing of advertising
Increased advertising at wrong turns when marketing to school children

Key Learnings: Consistent Message
Marketing message needs to be clear and consistent
Making changes to message leaves you vulnerable to confused consumers
Increase spend/frequency to spread message
Focus message to target market and do not try to reach all markets

Key Learnings: Overall
Timing and Consistency are important
Right decision to change strategy, just too late