docx

School

Georgia Southern University *

*We aren’t endorsed by this school

Course

4135

Subject

Business

Date

Jun 13, 2024

Type

docx

Pages

3

Uploaded by stephanieekiyor

Report
Marketing Decision Making (MBA-7633-A) Final Essay Stephanie Ekiyor-katimi May 2nd, 2024 The simulation game consisted of 8 quarters with a new business scenario for an international biking company. There are different markets in the biking simulation and you can choose the segments in the biking industry you want to go after. The main goal for the simulation is to achieve Corporate headquarters approval for marketing decisions based on a balanced scorecard approach.The game failed to fully capture the macro-environmental marketing forces that impact business. Economic Forces: In the simulated environment of the bike business, economic forces are simplified in that they often focus solely on demand and supply dynamics without accounting for complex factors like inflation, interest rates, or global economic crises. For example, in the simulation, changes in consumer income might be represented linearly, without considering broader economic trends. In the real world, economic forces are multifaceted, with macroeconomic factors significantly impacting consumer behavior and market stability. For instance, if the simulation did not account for inflation, it might inaccurately project consumer purchasing power, potentially leading the company to misjudge pricing strategies and investment decisions. In reality, failing to consider inflation could result in significant financial losses or missed opportunities for growth. Natural/physical environment forces:
Regarding natural/physical environment forces, the simulation might have simplified factors like weather patterns or environmental regulations. In the simulation there were bikes adapted to different physical terrains but its impact on product, output and the supply chain was ignored. For instance, it may overlook the impact of extreme weather events on production and distribution networks or the stringent regulations governing waste disposal and emissions. In the real world, ignoring these forces could expose the company to operational disruptions, increased costs due to compliance violations, or reputational damage from environmentally harmful practices. For example, if the simulation doesn't simulate extreme weather events, the company might not adequately prepare for disruptions in the supply chain, leading to delays in product delivery and customer dissatisfaction. Social/Cultural Forces: Social/cultural forces in the simulation oversimplified demographic trends or cultural preferences, neglecting their influence on consumer behavior and market segmentation. For example, it might generalize consumer preferences without considering cultural nuances or evolving societal values. In the real world, cultural differences and societal shifts can profoundly impact product demand and brand perception. Failure to account for these forces could result in misaligned marketing strategies, product offerings that do not resonate with target audiences, or missed opportunities to capitalize on emerging trends. For instance, in overlooking cultural preferences for eco-friendly products, the company might not prioritize sustainability initiatives, potentially losing market share to competitors who do. Technological Forces:
Technological forces in the simulation may simplify the pace of technological advancement or the impact of disruptive innovations on industry dynamics. For example, it overlooked the rapid pace of technological change or the risks associated with technological obsolescence. In the real world, technological advancements can revolutionize business models, disrupt traditional industries, and create new market opportunities. Ignoring these forces could leave the company vulnerable to competitive threats or hinder its ability to innovate and adapt. For instance, if the simulation does not simulate advances in e-commerce technology, the company might not invest in online sales platforms, missing out on a growing segment of consumers and losing competitiveness to digitally-native competitors. Political/Legal Forces: Political/legal or regulatory forces in the simulation may streamline complex government policies and regulations, overlooking their nuanced effects on business operations. For example, it might have simplified tax laws or trade agreements, failing to capture their full impact on international expansion or import/export costs. In the real world, changes in political leadership, trade policies, or regulatory frameworks can significantly affect market dynamics and business strategies. If the simulation does not accurately reflect these complexities, the company might underestimate compliance costs or overlook opportunities in new markets. For instance, the simulation overlooked trade tariffs, and the company might not anticipate increased costs when importing raw materials or exporting finished products, affecting pricing strategies and profitability.
Your preview ends here
Eager to read complete document? Join bartleby learn and gain access to the full version
  • Access to all documents
  • Unlimited textbook solutions
  • 24/7 expert homework help