16/7/2006
The Marketing halting
Introduction: The Marketing Game is a marketing simulation which we have been taking smash in for the past 5 weeks. My team consists of myself, Mark Fail, Richard awry(predicate) and Carl Eisenibeirs. We are in Industry E Firm 1. During all(prenominal) meeting we decided how we would market our overlap I took transactions of the meetings (Apx 1). We also kept our results sheets from each period (Apx 2). The aim of the Marketing Game is to understand how real markets work, and for us to find turn up how we can influence them. As a team our scratch line jobs was to try and decided on a strategy, and some aims for the simulation. We had unitary product which was video editing software, we had to try and market this successfully. We shortly realised that the best way to market this product would be match the product to our consumers preferences. Frederick E. Webster, 1997 said The successful establishment of the future will be customer-focused, not product or technology focused (Hooley Saunders Piercy, 1998, p3). We also realised that we needed to sustainment an eye on the competitors to see what they were doing. Look at the varied market segments we quickly saw that the best markets to target would be the Student, Home and Assistant markets because they all had similar needs.
This meant that matchless product would appeal to a wide range of customers, rather than one specific group. Another early strategy that we decided on was to spend a large proportion of our budget in publicise as we hoped this would attract our customers. รข€¦ a manufacturer who wants to blossom forth information quickly to a lot of people some a new product would still find advertising an effective means of generating early sales. (Brassington & Pettitt, 2003, p11). As well as picture a strategy we set up a couple of aims these were to try and maintain a position at the top of the Industry by selling the most units. each period we had to complete a decision form setting out the decision we wanted to make....If you want to get a full essay, order it on our website: Ordercustompaper.com
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