Name:	Nonso Dike						
		Description:	Practice Marketing – Group Corporation (multiplayer)						
			Turn:	Turn 1					
									
									
		Cashflow Report:							
			Corporation	Team 11	Team 12	Team 20	Team 22	Team 6	Troy Taylor
									
			Gross Profit	$4,348.40	$915.40	$3,638.20	$1,064.50	$2,905.70	$1,284.00
			Gross Margin	$0.43	$0.32	$0.22	$0.22	$0.22	$0.23
			Starting Balance	$10,000.00	$10,000.00	$10,000.00	$10,000.00	$10,000.00	$10,000.00
			Units Sold	165	86	254	135	326	358
			Unit Price	$98.00	$46.00	$105.00	$50.00	$65.00	$30.00
			Unit Cost	$35.00	$23.00	$52.00	$28.50	$31.00	$12.00
			Total Revenue	$10,123.40	$2,893.40	$16,846.20	$4,912.00	$13,011.70	$5,580.00
			COGS	$5,775.00	$1,978.00	$13,208.00	$3,847.50	$10,106.00	$4,296.00
			Market Costs	$8,700.00	$1,000.00	$9,950.00	$4,200.00	$3,300.00	$900.00
			Distribution Costs	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
			Total Fixed Costs	$8,700.00	$1,000.00	$9,950.00	$4,200.00	$3,300.00	$900.00
			Total Cost	$14,475.00	$2,978.00	$23,158.00	$8,047.50	$13,406.00	$5,196.00
			Net Profit	-$4,351.60	-$84.60	-$6,311.80	-$3,135.50	-$394.30	$384.00
			Contribution Margin	$26.35	$10.64	$14.32	$7.89	$8.91	$3.59
			Final Balance	$5,648.40	$9,915.40	$3,688.20	$6,864.50	$9,605.70	$10,384.00
									
		Key Performance Indicators:							
			Corporation	Team 11	Team 12	Team 20	Team 22	Team 6	Troy Taylor
									
			Target Segment	Outdoor Enthusiasts	University Students	Outdoor Enthusiasts	University Students	Urban Commuters	School Children
			Characteristics Score	79	78	97	78	93	77
			Features Score	31	31	68	68	54	31
			Average Appeal Score	55	55	83	73	74	54
			Price Score	3	3	3	3	3	4
			Message Score	14.0000	8.0000	14.0000	8.0000	5.0000	10.0000
			Interest Level	19	18	21	19	19	18
			Media Spending	$8,700.00	$1,000.00	$9,950.00	$4,200.00	$3,300.00	$900.00
			Average Margin	$35.31	$16.09	$23.33	$11.83	$15.41	$10.50
			Distributor Deficit	No	No	No	No	No	No
			Profit	-$4,351.60	-$84.60	-$6,311.80	-$3,135.50	-$394.30	$384.00
			Profit Rank	5	2	6	4	3	1
			Market Share	19%	5%	32%	9%	24%	10%
			Market Share Rank	3	6	1	5	2	4
			Largest Distributor Available	Yes	Yes	Yes	Yes	Yes	Yes
			Product Satisfaction (PSS)	37%	37%	56%	49%	50%	37%
			Customer Satisfaction (CSS)	29%	27%	40%	35%	34%	28%
			Return on Marketing (ROM)	-50%	-8%	-63%	-74%	-11%	42%
									
		Decisions							
			Team 11						
				Nicholas Phillips/Team 11 has targeted the segment Outdoor Enthusiasts					
				Nicholas Phillips/Team 11 adopts the Large Rectangular model					
				Nicholas Phillips/Team 11 replaces Thin Spaghetti straps with Wide Padded					
				Nicholas Phillips/Team 11 changes to Advanced					
				Nicholas Phillips/Team 11 recolors their backpack Green					
				Nicholas Phillips/Team 11 adds a Water Bottle					
				Nicholas Phillips/Team 11 increases price from 0.00 to 98.00					
				Nicholas Phillips/Team 11 added a distribution deal with High End Outdoor					
				Nicholas Phillips/Team 11 added a distribution deal with Online Discount Retailer					
				Nicholas Phillips/Team 11 added a distribution deal with Department Store					
				Nicholas Phillips/Team 11 added Peak Performance to its messages					
				Nicholas Phillips/Team 11 added Tough to its messages					
				Nicholas Phillips/Team 11 added Wilderness Cable Network at frequency 1x to its advertising platform					
				Nicholas Phillips/Team 11 added National Network at frequency 1x to its advertising platform					
				Nicholas Phillips/Team 11 added Gym and Sporting Locations at frequency 2x to its advertising platform					
			Team 12						
				Emily Tyo/Team 12 has targeted the segment University Students					
				Emily Tyo/Team 12 adopts the Rounded Top model					
				Emily Tyo/Team 12 replaces Thin Spaghetti straps with Basic					
				Emily Tyo/Team 12 adds a Water Bottle					
				Emily Tyo/Team 12 adds a Laptop Sleeve					
				Emily Tyo/Team 12 changes to Eco-Friendly					
				Emily Tyo/Team 12 recolors their backpack Blue					
				Emily Tyo/Team 12 added Eco Friendly to its messages					
				Emily Tyo/Team 12 added a distribution deal with University Store					
				Guillaume Labasse/Team 12 increases price from 0.00 to 46.00					
				Guillaume Labasse/Team 12 added Social Media at frequency 1x to its advertising platform					
			Team 20						
				Jason You/Team 20 has targeted the segment Outdoor Enthusiasts					
				Jason You/Team 20 adopts the Large Rectangular model					
				Jason You/Team 20 replaces Thin Spaghetti straps with Wide Padded					
				Jason You/Team 20 changes to Advanced					
				Jason You/Team 20 adds a Water Bottle					
				Jason You/Team 20 adds a Waterproofing					
				Jason You/Team 20 replaces Wide Padded straps with Advanced Support					
				Jason You/Team 20 increases price from 0.00 to 105.00					
				Jason You/Team 20 added a distribution deal with High End Outdoor					
				Jason You/Team 20 added a distribution deal with Online Discount Retailer					
				Jason You/Team 20 added a distribution deal with Department Store					
				Jason You/Team 20 added Tough to its messages					
				Jason You/Team 20 added Peak Performance to its messages					
				Jason You/Team 20 added Sports Talk Radio at frequency 2x to its advertising platform					
				Jason You/Team 20 added News Radio at frequency 1x to its advertising platform					
				Jason You/Team 20 changed advertising frequency to 2x for Wilderness Cable Network					
				Jason You/Team 20 changed advertising frequency to 1x for Outdoor Adventure Magazine					
			Team 22						
				Charles Flynn/Team 22 recolors their backpack Red					
				Charles Flynn/Team 22 adds a University Logo					
				Charles Flynn/Team 22 changes to Eco-Friendly					
				Charles Flynn/Team 22 has targeted the segment University Students					
				Charles Flynn/Team 22 increases price from 0.00 to 50.00					
				Charles Flynn/Team 22 added a distribution deal with University Store					
				Charles Flynn/Team 22 added a distribution deal with High End Outdoor					
				Charles Flynn/Team 22 changed advertising frequency to 2x for Social Media					
				Charles Flynn/Team 22 added Celebrity Gossip Blog at frequency 2x to its advertising platform					
				Charles Flynn/Team 22 added Eco Friendly to its messages					
				Charles Flynn/Team 22 adds a Laptop Sleeve					
				Charles Flynn/Team 22 replaces Thin Spaghetti straps with Basic					
				Charles Flynn/Team 22 adopts the Rounded Top model					
			Team 6						
				Norah Urbach/Team 6 replaces Thin Spaghetti straps with Wide Padded					
				Norah Urbach/Team 6 replaces Wide Padded straps with Thin Spaghetti					
				Norah Urbach/Team 6 replaces Thin Spaghetti straps with Basic					
				Norah Urbach/Team 6 adds a Laptop Sleeve					
				Norah Urbach/Team 6 replaces Basic straps with Thin Spaghetti					
				Norah Urbach/Team 6 replaces Thin Spaghetti straps with Basic					
				Norah Urbach/Team 6 replaces Basic straps with Wide Padded					
				Norah Urbach/Team 6 replaces Wide Padded straps with Basic					
				Norah Urbach/Team 6 replaces Basic straps with Wide Padded					
				Norah Urbach/Team 6 replaces Wide Padded straps with Basic					
				Norah Urbach/Team 6 replaces Basic straps with Wide Padded					
				Norah Urbach/Team 6 replaces Wide Padded straps with Basic					
				Norah Urbach/Team 6 adopts the Rounded Top model					
				Norah Urbach/Team 6 replaces Basic straps with Wide Padded					
				Norah Urbach/Team 6 changes to Advanced					
				Norah Urbach/Team 6 increases price from 0.00 to 65.00					
				Norah Urbach/Team 6 added a distribution deal with Department Store					
				Norah Urbach/Team 6 added a distribution deal with Online Discount Retailer					
				Norah Urbach/Team 6 added a distribution deal with High End Outdoor					
				Norah Urbach/Team 6 added a distribution deal with University Store					
				Norah Urbach/Team 6 added Classic to its messages					
				Norah Urbach/Team 6 changed advertising frequency to 2x for Social Media					
				Norah Urbach/Team 6 changed advertising frequency to 2x for Financial Journal					
			Troy Taylor						
				Troy Taylor has targeted the segment School Children					
				Troy Taylor replaces Thin Spaghetti straps with Basic					
				Troy Taylor adds a Water Bottle					
				Troy Taylor recolors their backpack Red					
				Troy Taylor increases price from 0.00 to 30.00					
				Troy Taylor added a distribution deal with Direct					
				Troy Taylor added a distribution deal with Discount Retail Chain					
				Troy Taylor added Comic Book at frequency 2x to its advertising platform					
				Troy Taylor added Fun to its messages					

What are the lessons learned from the simulation? Use the following template below to answer the question along with the statistics provided above, assuming that you are part of Team 11.
Our biggest challenge in this simulation was navigating the promotional aspects of the marketing
mix. Even after selecting mediums that reached a sizable portion of our target audience, we were not
necessarily seeing a positive return on marketing figure, especially through the initial turns. To
address this issue, we experimented with various media and frequencies throughout the simulation
and, in the end, elected to take a simplistic approach. We used the Newspaper at a 1x frequency,
ending with a return on marketing of 14%, which was overall second-highest in Turn 6 (see Figure
3.). From this experience, we learned that spending more does not necessarily equal better results.
We needed to keep our marketing expenses around $2000 or under to advertise our product
effectively.
Another challenge we faced was our total costs. By the end of the simulation, we had the highest
total costs of all the teams. These increased costs hurt our team because, with such high costs, it was
difficult for us to achieve a substantial profit. If we redid the simulation, having lower costs would be
a higher priority.
A third challenge we faced was determining an appropriate price for our product. Throughout the
simulation, we adjusted the price many times to increase our units sold or net profit. Since we sold
the highest quality product, with the greatest average appeal score for our target market, we initially
priced our backpack higher than the segment average. However, we reduced the price on multiple
occasions to remain competitive and to try to sell more units. However, we found that decreasing the
price did not necessarily equate to more sales. For example, in Turn 3, we reduced our price by $3,
but our revenue and units sold dropped significantly. In Turn 6, we increased our price by $6, yet our
revenue and units sold increased. We learned from this that our pricing strategy affected our bottom
line much less than our product and promotion strategy. We learned that our consumers were willing
to purchase our product over competitors despite the higher price point. If we could redo the
simulation, we would remain confident in the quality of our product and the strength of our brand by
staying firm with our premium pricing strategy, which would have likely equated to a higher net
profit.
One of our strengths was our Customer Satisfaction score, which remained consistent at 39%
throughout the simulation, placing us in the lead for this KPI. Since we analyzed what would appeal
to our consumers and made sure always to prioritize these critical characteristics and our product’s
quality in our decision-making, we were able to achieve and maintain this high score.
Target Market:
Upon reflection, if we were to restart a new game, we believe that a shift within our segmentation,
targeting and positioning process may help us improve the overall success of our product within the
market. To improve, we could modify our selected market to include another market segment, the
commuters market segment, and combine it with our outdoors segment to make a product that
appeals to both customer groups and expands the total target market. Since we had a 20% segment 
share by the final turn for a segment we weren’t intentionally targeting, our product had the potential
to gain more traction within the commuter segment.
While we will have to modify our niche marketing strategy to appeal to consumers in both market
segments, if it were possible in the simulation, adopting a differentiated targeting strategy would be
ideal. Unfortunately, it is not possible to have several product variations within MSim.
Marketing Mix:
Product: As part of the original simulation, we created a high-quality backpack for outdoor
enthusiasts. We believe that we would add features that would enhance the user experience for our
new targeting strategy in a new game. For example, we could increase backpack capacity and
durability. Current market research would suggest that the commuter’s segment isn’t satisfied with
special features, pack size and pack colour, and the product would have to suit both markets instead
of one.
Price: We may need to slightly lower the price point to better accommodate the shift in the target
market. Currently, our pack is retailing at around $94.00, which is $4.00 above the ideal market price
for our original consumer segment. Since the commuters’ customer feedback states that the price
point is slightly high for that segment, we will make sure to modify the price to be a little more
accessible for both segments. Despite the high price point, we feel that some early purchases from
the commuter segment would indicate that the price point isn’t unreasonable to some consumers and
that the new target market may be successful.
Place: Place is an element that we believe will not need as much modification. Many of our current
distributors already have active customers within the segment, speaking to the potential interest in
the product. We are currently within many distribution channels that already contain the revised
target market. Depending on the extent of our pricing adjustment, we might add distribution channels
such as a high-end store if it makes fiscal sense to do so.
Promotion: In the expansion of our target market, we would likely modify the overall message of our
product to better target the mix of customer segments. Our current message explicitly focused on
communicating a message to outdoor enthusiasts - “Peak Performance.” While this message was also
33% applicable to other consumers, we’d want to create a more market- inclusive message that
would appeal to both customer segments, contributing to our overall mission of driving product
profitability. Adding a second keyword may have helped boost our reach within the expanding target
market. Our group would also explore a shift in advertising platforms, investigating which ones
would yield the best reach towards our new target market and shifting advertising spend towards
that.