Minnesota Micromotors Marketing Simulation and Final paper
From the professor: Most of you have had a chance to work through the Minnesota MicroMotors simulation at least once if not a few times . Some of you have been fired as CEO of Minnesota Micromotors – don’t worry! This is all part of the learning. Of course, we all want to do as well as we possibly can in the simulation – that is why your grade on this activity will be based on a combination of your final score and your journal observations. Your journal should be a record of what actions you took and what you learned regarding the impact that those actions had on your profitability, revenue and customer satisfaction. What did you learn based on the reaction of competitors, market segments, etc.?
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Get Help Now!Using this simulation, you should begin to see the link between the marketing strategy that you formulate and effective implementation. You will begin to weigh the trade-offs of different decisions regarding product design, customer segments, etc. You will be putting to use what you learned from your reading and class exercises regarding segmentation, targeting and positioning. You will have the chance to test out various pricing strategies and see how the market reacts. You will also be faced with the challenge of managing channel conflict and maintaining consistency across multiple channels.
If you haven’t had much luck so far – go back to basics.
- Review the introductory material, including the Prepare page and Foreground Reading. This will give you valuable information about the company and industry where the simulation takes place.
- Analyze the reports provided on the Analyze screens. Here you will find information about current and historical sales, desired product features by customer segment, etc. You will see how the market is changing. Financial statements are also available here.
- Enter your decisions for the current quarter. You will be asked to make many tactical decisions such as setting pricing, allocating R&D spending and determining Sales team priorities.
- Review your results and adjust your decisions.
Final Simulation Run —
Some of you are midway through the simulation. Others have not yet started. Others have made multiple attempts, learning a LOT along the way. I don’t want anyone to lose visibility to the work that is in progress. Therefore, rather than resetting everyone to zero, I will take the last simulation that you have completed as of November 21 as your final attempt. If you are happy with the score that you have achieved to date you can let it stand. Otherwise, you can try again. I have visibility to all of your attempts so don’t be afraid to try out different things to observe how the market reacts. Your final score will be comprised of your simulation result (were you successful as CEO/CMO of Minnesota Micromotors) and your detailed journal of observations from the activity that you took. I want to see what you observed and what you learned.
For the final paper:
Using your notes and observations in your journal, think about these questions. Your final paper will be a reflective paper that describes your time as Minnesota Micromotors CEO/CMO — guided by these questions (below).Your paper should be up to 5 pages (single spaced).
How did you develop your overall strategy? What were your objectives going into the simulation and what did you hope to accomplish based on your strategy? Did you focus on any segments? Why? Did you ignore any segments? Why? What did you do with the product positioning over time? Why? Do you think your strategy worked? Looking at the results, what was the correlation between your actions (product design, customer management efforts, customer satisfaction across the different market segments) and your short and long term performance? How did customers react to your actions? Competitors? Overall, do you think your strategy was successful? What if anything would you do differently? Do you think the shareholders of Minnesota Micromotors would be pleased with your performance?
Your final paper, simulation run and journal entries should be completed by November 22..
From me:
My goal is to get the highest grade possible (in the simulation) while also being detailed about the things learned through the simulation (in the paper). The paper is due Wednesday but I will need it atleast a day before to make edits/changes, if necessary.
If you agree to it, I can send you my journal entry from the first trial run in the simulation, which you then can intergrate into the final paper. The paper could be 3 1/2 to 4 pages single space give or take.
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