W14 Assignment Simulation Reflection

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Brigham Young University, Idaho *

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Course

341

Subject

Marketing

Date

Nov 24, 2024

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pptx

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9

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THE BUHI TOTE BAG DURABLE, STYLISH, AND PROFESSIONAL
MARKET RESEARCH: RESULTS • General outlook of the market • Establishing the target market • Understanding the market strategy. ROUND 1
PRODUCT LAUNCH • Positioning statement • Product type and Price ROUND 2
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PROMOTIONS PLAN ROUND 3 • Price changes • Promos • Advertising Channels
DISTRIBUTORS SET UP ROUND 4 • Choice of distribution channels • Justification for the choices • Effects of the choices
DISTRIBUTORS OPTIMIZATION ROUND 5 Distribution choices Justification for the choices Effects of the choices
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PRICE OPTIMIZATION ROUND 6 Price Changes Justification for price changes Feedback
PRICE OPTIMIZATION ROUND 7 Price Changes Justification for price changes Feedback
LESSONS AND CONCLUSIONS • What went right or wrong • Most challenging rounds • What to remember • My initial beliefs on marketing
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