Stukent Simulation Round 2: Positioning, Pricing, and Strategy Insights

page 1 of 4 Stukent Simulation Round 2 Worksheet Name: Reed Knecht Student ID: 10836048 In Round 2, you are asked to create a positioning statement, select a tote, and determine its retail price based on the data from the market research conducted in Round 1. Part I: Please document your decision in the simulation and provide your rationale. Note: Please refer to the data/number (from which report/survey question) or other simulation information to support your claims under the rationale column. Your Decision Rationale Positioning Paste your positioning statement here: This tote is perfect for 30-39- year-old moms who are interested in shopping and family activities. It's fashionable and functional, making it ideal for staying on trend and keeping organized. Product Selection Paste ALL the info of your selected product here:  Color(s): Black  Size: 16x18  Material(s): Faux Leather  Cost per Unit: $33  Consumer Testing Feedback -  I love the contrasting color on the handles.  Plenty of space to hold the essentials.  The neutral color goes

page 2 of 4 with everything! Pricing Paste the price of your product here: 129 Part II: Please provide two screenshots below after the simulation is run. Screenshot 1: Total Revenue of the Product in Q1 (i.e., the 2 nd block on the result page)

page 3 of 4 Screenshot 2: Feedback from the System ( (i.e., the 3 rd block on the result page)

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page 4 of 4 Part III: Please reflect on the simulation and answer the following questions: 1) Is the total revenue in Q1 desirable? Why or why not? Well, it is not awful, it is still 5,750 dollars bellow the goal. The reason I want to get the goal of 50,000 in revenue is to keep the company on track, but also it is where my bonus comes from. Although it is not perfect it is not too bad either. I just need to make a few changes to get that extra 5K in revenue. 2) Please specify the items that you would keep/change in the simulation so that the total revenue could be (even) more desirable. Please also provide justifications. I would not change my positioning statement I am very happy with that, I might think about mentioning something about price. I would not change the product either. I would however raise the price. I think that is where I missed out on my revenue. I would do 149 instead of 129. The key research has the desired price at 100 to 150, so I thought I would put my price in the middle, but I should have gone to the higher end at 149. 3) Do you agree with the feedback from the system? Why or why not? I agree with it, it said all I need to change is my price which I agree with. It also said I could tweak my positioning statement just a little, but I am stil doing my best to find out where.

Simternship Round 2

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