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Carry-On
Initial game strategy
Tiffany C., Azeem S., Dillon H.
MKTG 2150-005
Mount Royal University
Introduction and segment chosen
Carry on is an outdoor backpack company with great
features at a competitive price. We have devoted our company
to construct backpacks for outdoor enthusiasts as they have a
deep and lifelong commitment and investment to the outdoors
that is not just a casual interest, but a lifestyle.We believe that
people will put their money where their passion is. In order to
create an ideal backpack for our target market, we needed to
understand the demographic segment of these consumers.
Statistically, about 30% outdoor enthusiast have a household
income of $100,000+ and about 33% of them are 45+ years old.
About 70% are Caucasian and 26% are College Graduates
(Outdoor Foundation, 2014, p.10). Also, 54% of outdoor
participants are male (Outdoor Foundation, 2014, p. 7). We kept
this in mind as our backpack had to be created for potential
consumers with both the willingness and ability to buy.
Product Features
We’ve adopted the Large rectangular backpack as it has a quite
a large capacity and helps create enough comfort for the
outdoor enthusiast. We’ve chosen the Wide-padded because it
creates enough durability and comfort for the outdoor
enthusiast, and provides a more cost-effective approach than
Wide + Chest or the Advanced support straps. Outdoor
enthusiasts are more concerned with the capacity and water
proof of the backpack, rather than comfort and durability.
We’ve added features such as a water bottle holder to allow the
traveller to grab water at their convenience, waterproof material
to help protect the backpack from weather related issues. We
avoided a GPS tracker in our backpack because it is too costly
for our price. We chose advanced material as the material for
our backpack which offers excellent durability with its synthetic
coating and also provides enhanced waterproofing. As for color,
we chose green to promote and relate to the outdoor enthusiast.
The green color provides camouflage and symbolises the
outdoors.
Pricing strategy
The total production cost of Carry-on’s backpack will be $45.
This is very efficient in comparison with the demands of an
outdoor enthusiast. Everything is provided, and we save
production costs by avoiding extra benefits such as a GPS
system and advanced support straps. We have decided to price
our backpack at $96 as the average an outdoor enthusiasts
spends is $90 on a backpack. This provides a $51 margin per
unit cost.
Distribution decisions
We decided to distribute our backpacks directly, with a $5
discount due to %0 distributer cut. We also decided to distribute
a High End Outdoor store, similarly giving a $5 discount.
Distributing at High End Outdoor Stores with a $5 discount can
be efficient as it promotes purchases in the most customer
reaching area, and only takes a %28 distributor cut. We will
also distribute through Department stores and Online Discount
Retailers to spread the likeliness of customers discovering and
purchasing our backpacks. We will not offer a discount in
Department stores and Online Discount Retailers as they take a
larger distributer cut.
Communications decisions
For promotions, we chose to advertise in TV: Wilderness Cable
Network, and Radio: Sports Talk Radio with a communicating
message of Peak performance. This message reaches about %66
of our outdoor commuters demographically, and also %33 of
commuters. This message can be very effective in raising
interest and awareness of our backpack. Although expensive,
approximately $3000 per quarter, we chose to advertise in TV:
Wilderness Cable Network to reach out to around %55 of our
demographics. We will begin by advertising twice in 30 second
spots, and slowly increasing our advertising to raise more
awareness of our backpack. We have also decided for the first
few quarters to advertise also in Radio: Sports Talk Radio. With
an advertising price of $1000, this will allow us to reach our
demographic in a more cost effective manner. We will
eventually cut advertising completely to maximize profit, as
much of our demographic will be reached.
Conclusion
In summary, we believe this initial marketing strategy will
create the largest profit for Carry on. This profit will come
through a cost effective backpack, a reasonable and competitive
price for the outdoor enthusiasts, effective distributors with
discounts in more profitable distributions, and cost efficiently
reaching outdoor enthusiasts through a message of peak
performance in television and radio.
References
The Outdoor Foundation. (2014). Outdoor participation report.
Retrieved on November
14, 2015 from
http://www.outdoorfoundation.org/pdf/ResearchParticipation201
4.pdf
MKTG 2150 - Final Project
Carolyn Sterenberg
Gurpartap Baidwan
Husayn Nathoo
Abdullah Muhammad
Team Strategy
Serpents Backpack Co. is a high end backpack company,
boasting elegant, and eye-catching product designs and features.
We at Serpents strive to deliver the best possible product for
our targeted market of luxury-trend followers. With a strong
commitment and organizational culture founded on the
implication that luxury trends aren’t simply a hobby or side
interest, but rather a lifestyle. We deliver a classic and
luxurious backpack at a price that’ll make you say “the price is
right!”
Segment
In the simulation there are five market segments available to
choose from. In no specific order they are: university, luxury-
trend followers, outdoor enthusiasts, school children, and urban
commuters.
· Segment
· Luxury-trend followers
· Highest % growth rate (7%)
· Niche market
· Really narrow and hammer down what they want and
monopolise the segment
· Less risk of competition - many will turn away as they are the
smallest segment group
· Can afford an expensive backpack
· Increase margin/unit
· Ensure we rank high in terms of profit
· Ensure we are able to retain significant profit post distributor
cut(s)
· Product features
· Segment needs and wants:
· 62% comfort
· 31% capacity
· 31% durability
· 16% waterproof
· 16% eco-friendly
· Teardrop rucksack shape
· Pleasantly tapered, stylish pack
· Appeals to the segment as they care for their appearance and
aesthetic
· Ranks highest for comfort at “6”
· Comfort is the main prerequisite for our chosen segment
· Basic straps
· They are inexpensive straps to help boost profit margins
· Provide even support and basic comfort
· Purchasing a more comfortable strap means doubling, even
tripling the price of this one
· Instead boost comfort in other areas and keep costs down
· Features designer tag
· Luxury-trend followers will be able to do exactly that - follow
a luxury trend
· “Appeal to the fashion forward by licensing a designer tag”
· Luxury material
· Provides extremely high levels of comfort and durability -
boosts overall score and aligns our product with the needs of
our segment
· Appeals to the luxury-trend followers as the name of the
material itself is “luxury”
· “Finest quality high-grained soft leather provides a
comfortable feel and long-lasting durability”
· Tan colour
· Upon research during the persona assignment, it was revealed
that neutral colours take the cake for luxury-trend followers
· Tan is a neutral and popular color choice for those aiming to
boost their aesthetic in a high-class manner
· Overall segment needs and wants fulfilled
· In the demo mode, we went in and tested how our segment
would like or dislike our product design by viewing their
feedback
· “Exactly the kind of pack I need”
· “Has many of the special features I am looking for”
· “I love the colour of this pack!”
· “It’s the perfect size”
· All feedback received from our target segment
· It was important to keep the price of the product as low as
possible, considering the retail price certain distributors might
decide to put up (lower than our MSRP)
· Pricing strategy, actual price and margin
· With our current product design, the price of production
equated to $44
· The average purchase price listed for the segment states “$70”
however, this figure seems awfully low for a luxury-trend
follower segment
· By comparing the average purchase prices, it only made sense
for the luxury-trend followers to be willing to spend the most
amount of money on a product, this is a part of the experience
of being a luxury-trend follower after all
· Because the “outdoor enthusiast” segments average purchase
price is listed as $90, we priced ourselves so that we were above
that figure
· The unit price we arrived at is $110 MSRP
· This allows for a significant margin per unit, specifically, $66
per unit
· This means our profit scale is 150% greater than the
production cost, a fair position to be in
· This number also means we can make agreements with many
distributors without fear of being unprofitable, or significantly
lowering our profit margins
· Upon feedback in demo mode from our target segment, we
determined an MSRP of $110 is the perfect price as the segment
responded with “the price is right!”
· Distribution decisions
· With the end goal of this simulation being the team who has
made the most money, mass distribution would help ensure our
product is able to reach its full sales potential
· As a result of our high MSRP, the Discount Retail Chain, as
well as the University Store were made unavailable to us as
distributors
· However, this was of little concern to us as only 0.36% and
1.1% of our target segment, respectively, falls under those
distributors customer reach
· The main distributor we seeked to employ was the Fashion
Boutique, as they are a luxury retailer, with 27% of their
customer reach being luxury-trend followers: the highest of any
distributor
· Ensuring our profit margins were high as aforementioned
played a fundamental role in accepting Fashion Boutiques terms
as a distributor as they take the highest cut: 55% which is
$60.50
· Once the production cost ($44) and the distributor cut ($60.50)
is taken out of the retail price ($110), we are left with a profit
margin of $5.50
· This number is unfortunately low however, it allows us to
maintain Fashion Boutique as a distributor
· In keeping with our mass distribution strategy, we employed
every other available distributor available to us
· Online discount retailer
· Online shopping retailer which offers a plethora of products at
discounted rates
· Allows for luxury-trend followers who might not have the
financial means to continue their luxury-trend venture the
opportunity to continue doing so
· 5.4% of their customer reach is our target segment
· Retail price $82.50
· $27.5 lower than our MSRP
· Distributor cut 40% = $44
· Profit margin = $22
· Department Store
· Mid-level chain of stores
· Opens up our product to more purchasing opportunities
· 7.3% of customer reach is our target segment
· Retail price $99
· $11 lower than our MSRP
· Distributor cut 45% = $49.50
· Profit margin = $16.50
Conclusion
In summary, we believe this initial marketing strategy will
create the largest profit for Serpent Backpack Co. The
organizations profit will come through a high end luxury
backpack, that is fashionable, and up to standards with the latest
trends.
(Goldston, 2017)
(Hetrick, 2014)
References
(n.d.).
Goldston, N. (2017, December 29). Forbes. Retrieved November
13, 2018, from What You Need To Know About Luxury
Consumer Trends For 2018:
https://www.forbes.com/sites/njgoldston/2017/12/29/what-you-
need-to-know-about-luxury-consumer-trends-for-
2018/#538d5fce21eb
Hetrick, R. (2014, June 09). Kelley Indianapolis Hub. Retrieved
November 13, 2018, from Luxury Trend Followers: Every
Marketer's Best Friend:
https://hub.kelley.iupui.edu/blog/_blog/luxury-trend-followers-
every-marketers-best-friend.html
MKTG 2150 Final Project - Marketing Practice Simulation (we
know the name is terrible)
Winter 2018 - 25% of final grade
In teams of 3-4 we will play the McGraw Hill Marketing
Practice Simulation that was included with your book purchase.
There are many benefits to using a simulation including:
· the ability to learn through performing an action in order to
get to a certain outcome,
· the improved retention of knowledge and its applications with
experience of integrating the concepts learned in class and
applying them in a strategically consistent manner,
· the benefit of consistent, constant, and immediate feedback,
· It is really fun!
There are three elements to your completion of this project:
1. 2 page document outlining your team’s original strategy and
the reasoning behind your decisions, this is worth 15 points. To
complete this it is important to read the guides and play the
tutorial games provided to you.
2. Playing the simulation for at least 15 rounds this represents
10 points dependent on your placing. The ultimate goal is to
make the most money.
3. Final Presentation where you will create the promotional
campaign for your product and provide an overview of your
final position. This is worth 75 points of your final grade.
Part 1
The document outlining your initial strategy for the simulation
will include the following:
(Hint: approx. 1 paragraph for each point)
· Introduction and conclusion
· Discussion of each strategic decision including:
· Segment chosen and why
· Product features and how they meet the needs of the segment
· Pricing strategy, actual price and margin
· Distribution decisions with reasoning
· Communications decisions both message and media
· Approximately 2 pages, organized, edited, single spaced, 12
point font, stapled with a cover page with first and last names
of all contributing group members.
This document is due at the beginning of class on the day we
start the game. It is essentially your first set of decisions so it is
important that everyone on the team agrees. You will have
opportunity to practice before the simulation begins!
Part 2
Game on! We will play about 15 rounds as per the class
schedule. The top team based on the Total Net Profit over the
course of the game. Top team gets 10, second team 9 and so on.
Everyone in the group must be in class on the days that we are
playing the game.
Missing class and not supporting your team will result in a
reduced grade of 10% per occurrence, this includes game and
project preparation classes.
Part 3
This is where we put together all that we have learned and apply
the concepts learned during the course and simulation. A 10
minute presentation will be created and practiced that illustrates
your final results from the simulation and your creative
department’s work on creating an effective promotional
campaign. Your group will create an integrated marketing
communication strategy, decide upon the elements required (see
text), develop an appeal, and design and produce the creative
elements (actual ads, social media, public relations,
sponsorship, sales promotions and direct pieces). It is
important that you make clear the goals of your plan and
explain how success will be measured.
The format of the presentation will be:
· Created for an audience of Marketing Managers who you wish
to approve the launching of your IMC plan.
· 10 minutes + questions
· Evidence of IMC – ALL strategies consistent and relate to
overall plan
· 15-20 slides created in PP, Google slides, Prezi or any format
that you would like.
· Slides will be primarily images with very few words
· Presentation will be practiced and professional
· Presenters will be dressed in business attire as discussed in
class or appropriate costumes
· Presentations will be interesting and awesome
· Bonus marks for those judged the most awesome by their peers
(1st place – 5 marks, 2nd place – 3 marks, 3rd place – 1 mark)
· Will include the information and elements outlined below –
these are guidelines
Suggested Slides and Content of Presentation:
Introduction
Game summary and key learning from simulation
Target market
Objective/Overall Appeal
Packaging – sample or visual of tag
Advertising strategy – visual sample of actual ad, where, why
and timing (Be specific)
Direct Marketing - Social Media plan – visual, where, why, how
do you get consumers engaged, timing
Public Relations strategy – what, where, when
Event Sponsorship – what, where, when
Sales Promotion – visual, offer, where, timing
Website mock-up
Schedule of timing in table format
Conclusion
References
All students are required to be present for all presentations to
act as judges and support their peers. Failure to hand in an
individual voting form at the end of presentations will result in
an individual reduced grade on the project.
MKTG 2150 Final Project Presentation
Group name:
_____________________________________________________
_______________
Content (Steak)
Score
Comments
· Game Overview & Decisions
· Final Decisions
1 2 3 4 5 6 7 8 9 10
Integrated Marketing Communication Campaign
· Clear description of target market
· Campaign clearly described and justified including appeal and
creative themes
· Creation and use of consistent brand identity
· Packaging – eg or visual of tag
· Advertising strategy – visual sample of actual ad, where, why
and timing
· Direct Marketing Social Media plan – visual, where, why, how
do you get consumers engaged, timing
· Public Relations strategy – what, where, when
· Event Sponsorship – what, where, when
· Sales Promotion – visual, offer, where, timing
· Website mockup
1 2 3 4 5
1 2 3 4 5
1 2 3 4 5
1 2 3 4 5
1 2 3 4 5
1 2 3 4 5
1 2 3 4 5
1 2 3 4 5
1 2 3 4 5
1 2 3 4 5
Media Plan and schedule
· Media chosen consistent with campaign and audience
· schedule justified
1 2 3 4 5
1 2 3 4 5
References
1 2 3 4 5
Communication and Persuasion
Introduction captures attention and manages expectations
1 2 3 4 5
Timed perfectly using format
· 10 minutes and 20 slides
1 2 3 4 5
Stunning, persuasive visuals- Slides
1 2 3 4 5
Effective Platform Skills -obviously well-rehearsed
1 2 3 4 5
Conclusion - Ends on a high, persuasive note
1 2 3 4 5
Total
/100

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Carry-OnInitial game strategyTiffany C., Aze.docx

  • 1. Carry-On Initial game strategy Tiffany C., Azeem S., Dillon H. MKTG 2150-005 Mount Royal University
  • 2. Introduction and segment chosen Carry on is an outdoor backpack company with great features at a competitive price. We have devoted our company to construct backpacks for outdoor enthusiasts as they have a deep and lifelong commitment and investment to the outdoors that is not just a casual interest, but a lifestyle.We believe that people will put their money where their passion is. In order to create an ideal backpack for our target market, we needed to understand the demographic segment of these consumers. Statistically, about 30% outdoor enthusiast have a household income of $100,000+ and about 33% of them are 45+ years old. About 70% are Caucasian and 26% are College Graduates (Outdoor Foundation, 2014, p.10). Also, 54% of outdoor participants are male (Outdoor Foundation, 2014, p. 7). We kept this in mind as our backpack had to be created for potential consumers with both the willingness and ability to buy. Product Features We’ve adopted the Large rectangular backpack as it has a quite a large capacity and helps create enough comfort for the outdoor enthusiast. We’ve chosen the Wide-padded because it creates enough durability and comfort for the outdoor enthusiast, and provides a more cost-effective approach than Wide + Chest or the Advanced support straps. Outdoor enthusiasts are more concerned with the capacity and water proof of the backpack, rather than comfort and durability. We’ve added features such as a water bottle holder to allow the
  • 3. traveller to grab water at their convenience, waterproof material to help protect the backpack from weather related issues. We avoided a GPS tracker in our backpack because it is too costly for our price. We chose advanced material as the material for our backpack which offers excellent durability with its synthetic coating and also provides enhanced waterproofing. As for color, we chose green to promote and relate to the outdoor enthusiast. The green color provides camouflage and symbolises the outdoors. Pricing strategy The total production cost of Carry-on’s backpack will be $45. This is very efficient in comparison with the demands of an outdoor enthusiast. Everything is provided, and we save production costs by avoiding extra benefits such as a GPS system and advanced support straps. We have decided to price our backpack at $96 as the average an outdoor enthusiasts spends is $90 on a backpack. This provides a $51 margin per unit cost. Distribution decisions We decided to distribute our backpacks directly, with a $5 discount due to %0 distributer cut. We also decided to distribute a High End Outdoor store, similarly giving a $5 discount. Distributing at High End Outdoor Stores with a $5 discount can be efficient as it promotes purchases in the most customer reaching area, and only takes a %28 distributor cut. We will also distribute through Department stores and Online Discount Retailers to spread the likeliness of customers discovering and purchasing our backpacks. We will not offer a discount in Department stores and Online Discount Retailers as they take a larger distributer cut. Communications decisions
  • 4. For promotions, we chose to advertise in TV: Wilderness Cable Network, and Radio: Sports Talk Radio with a communicating message of Peak performance. This message reaches about %66 of our outdoor commuters demographically, and also %33 of commuters. This message can be very effective in raising interest and awareness of our backpack. Although expensive, approximately $3000 per quarter, we chose to advertise in TV: Wilderness Cable Network to reach out to around %55 of our demographics. We will begin by advertising twice in 30 second spots, and slowly increasing our advertising to raise more awareness of our backpack. We have also decided for the first few quarters to advertise also in Radio: Sports Talk Radio. With an advertising price of $1000, this will allow us to reach our demographic in a more cost effective manner. We will eventually cut advertising completely to maximize profit, as much of our demographic will be reached. Conclusion In summary, we believe this initial marketing strategy will create the largest profit for Carry on. This profit will come through a cost effective backpack, a reasonable and competitive price for the outdoor enthusiasts, effective distributors with discounts in more profitable distributions, and cost efficiently reaching outdoor enthusiasts through a message of peak performance in television and radio. References The Outdoor Foundation. (2014). Outdoor participation report.
  • 5. Retrieved on November 14, 2015 from http://www.outdoorfoundation.org/pdf/ResearchParticipation201 4.pdf MKTG 2150 - Final Project Carolyn Sterenberg Gurpartap Baidwan Husayn Nathoo Abdullah Muhammad Team Strategy Serpents Backpack Co. is a high end backpack company, boasting elegant, and eye-catching product designs and features. We at Serpents strive to deliver the best possible product for our targeted market of luxury-trend followers. With a strong
  • 6. commitment and organizational culture founded on the implication that luxury trends aren’t simply a hobby or side interest, but rather a lifestyle. We deliver a classic and luxurious backpack at a price that’ll make you say “the price is right!” Segment In the simulation there are five market segments available to choose from. In no specific order they are: university, luxury- trend followers, outdoor enthusiasts, school children, and urban commuters. · Segment · Luxury-trend followers · Highest % growth rate (7%) · Niche market · Really narrow and hammer down what they want and monopolise the segment · Less risk of competition - many will turn away as they are the smallest segment group · Can afford an expensive backpack · Increase margin/unit · Ensure we rank high in terms of profit · Ensure we are able to retain significant profit post distributor cut(s) · Product features · Segment needs and wants: · 62% comfort · 31% capacity · 31% durability · 16% waterproof · 16% eco-friendly · Teardrop rucksack shape
  • 7. · Pleasantly tapered, stylish pack · Appeals to the segment as they care for their appearance and aesthetic · Ranks highest for comfort at “6” · Comfort is the main prerequisite for our chosen segment · Basic straps · They are inexpensive straps to help boost profit margins · Provide even support and basic comfort · Purchasing a more comfortable strap means doubling, even tripling the price of this one · Instead boost comfort in other areas and keep costs down · Features designer tag · Luxury-trend followers will be able to do exactly that - follow a luxury trend · “Appeal to the fashion forward by licensing a designer tag” · Luxury material · Provides extremely high levels of comfort and durability - boosts overall score and aligns our product with the needs of our segment · Appeals to the luxury-trend followers as the name of the material itself is “luxury” · “Finest quality high-grained soft leather provides a comfortable feel and long-lasting durability” · Tan colour · Upon research during the persona assignment, it was revealed that neutral colours take the cake for luxury-trend followers · Tan is a neutral and popular color choice for those aiming to boost their aesthetic in a high-class manner · Overall segment needs and wants fulfilled · In the demo mode, we went in and tested how our segment would like or dislike our product design by viewing their feedback · “Exactly the kind of pack I need” · “Has many of the special features I am looking for” · “I love the colour of this pack!” · “It’s the perfect size”
  • 8. · All feedback received from our target segment · It was important to keep the price of the product as low as possible, considering the retail price certain distributors might decide to put up (lower than our MSRP) · Pricing strategy, actual price and margin · With our current product design, the price of production equated to $44 · The average purchase price listed for the segment states “$70” however, this figure seems awfully low for a luxury-trend follower segment · By comparing the average purchase prices, it only made sense for the luxury-trend followers to be willing to spend the most amount of money on a product, this is a part of the experience of being a luxury-trend follower after all · Because the “outdoor enthusiast” segments average purchase price is listed as $90, we priced ourselves so that we were above that figure · The unit price we arrived at is $110 MSRP · This allows for a significant margin per unit, specifically, $66 per unit · This means our profit scale is 150% greater than the production cost, a fair position to be in · This number also means we can make agreements with many distributors without fear of being unprofitable, or significantly lowering our profit margins · Upon feedback in demo mode from our target segment, we determined an MSRP of $110 is the perfect price as the segment responded with “the price is right!” · Distribution decisions · With the end goal of this simulation being the team who has made the most money, mass distribution would help ensure our product is able to reach its full sales potential · As a result of our high MSRP, the Discount Retail Chain, as well as the University Store were made unavailable to us as distributors · However, this was of little concern to us as only 0.36% and
  • 9. 1.1% of our target segment, respectively, falls under those distributors customer reach · The main distributor we seeked to employ was the Fashion Boutique, as they are a luxury retailer, with 27% of their customer reach being luxury-trend followers: the highest of any distributor · Ensuring our profit margins were high as aforementioned played a fundamental role in accepting Fashion Boutiques terms as a distributor as they take the highest cut: 55% which is $60.50 · Once the production cost ($44) and the distributor cut ($60.50) is taken out of the retail price ($110), we are left with a profit margin of $5.50 · This number is unfortunately low however, it allows us to maintain Fashion Boutique as a distributor · In keeping with our mass distribution strategy, we employed every other available distributor available to us · Online discount retailer · Online shopping retailer which offers a plethora of products at discounted rates · Allows for luxury-trend followers who might not have the financial means to continue their luxury-trend venture the opportunity to continue doing so · 5.4% of their customer reach is our target segment · Retail price $82.50 · $27.5 lower than our MSRP · Distributor cut 40% = $44 · Profit margin = $22 · Department Store · Mid-level chain of stores · Opens up our product to more purchasing opportunities · 7.3% of customer reach is our target segment · Retail price $99 · $11 lower than our MSRP · Distributor cut 45% = $49.50 · Profit margin = $16.50
  • 10. Conclusion In summary, we believe this initial marketing strategy will create the largest profit for Serpent Backpack Co. The organizations profit will come through a high end luxury backpack, that is fashionable, and up to standards with the latest trends. (Goldston, 2017) (Hetrick, 2014) References (n.d.). Goldston, N. (2017, December 29). Forbes. Retrieved November 13, 2018, from What You Need To Know About Luxury Consumer Trends For 2018: https://www.forbes.com/sites/njgoldston/2017/12/29/what-you- need-to-know-about-luxury-consumer-trends-for- 2018/#538d5fce21eb Hetrick, R. (2014, June 09). Kelley Indianapolis Hub. Retrieved November 13, 2018, from Luxury Trend Followers: Every Marketer's Best Friend: https://hub.kelley.iupui.edu/blog/_blog/luxury-trend-followers- every-marketers-best-friend.html MKTG 2150 Final Project - Marketing Practice Simulation (we know the name is terrible) Winter 2018 - 25% of final grade In teams of 3-4 we will play the McGraw Hill Marketing Practice Simulation that was included with your book purchase. There are many benefits to using a simulation including:
  • 11. · the ability to learn through performing an action in order to get to a certain outcome, · the improved retention of knowledge and its applications with experience of integrating the concepts learned in class and applying them in a strategically consistent manner, · the benefit of consistent, constant, and immediate feedback, · It is really fun! There are three elements to your completion of this project: 1. 2 page document outlining your team’s original strategy and the reasoning behind your decisions, this is worth 15 points. To complete this it is important to read the guides and play the tutorial games provided to you. 2. Playing the simulation for at least 15 rounds this represents 10 points dependent on your placing. The ultimate goal is to make the most money. 3. Final Presentation where you will create the promotional campaign for your product and provide an overview of your final position. This is worth 75 points of your final grade. Part 1 The document outlining your initial strategy for the simulation will include the following: (Hint: approx. 1 paragraph for each point) · Introduction and conclusion · Discussion of each strategic decision including: · Segment chosen and why · Product features and how they meet the needs of the segment · Pricing strategy, actual price and margin · Distribution decisions with reasoning · Communications decisions both message and media · Approximately 2 pages, organized, edited, single spaced, 12 point font, stapled with a cover page with first and last names of all contributing group members.
  • 12. This document is due at the beginning of class on the day we start the game. It is essentially your first set of decisions so it is important that everyone on the team agrees. You will have opportunity to practice before the simulation begins! Part 2 Game on! We will play about 15 rounds as per the class schedule. The top team based on the Total Net Profit over the course of the game. Top team gets 10, second team 9 and so on. Everyone in the group must be in class on the days that we are playing the game. Missing class and not supporting your team will result in a reduced grade of 10% per occurrence, this includes game and project preparation classes. Part 3 This is where we put together all that we have learned and apply the concepts learned during the course and simulation. A 10 minute presentation will be created and practiced that illustrates your final results from the simulation and your creative department’s work on creating an effective promotional campaign. Your group will create an integrated marketing communication strategy, decide upon the elements required (see text), develop an appeal, and design and produce the creative elements (actual ads, social media, public relations, sponsorship, sales promotions and direct pieces). It is important that you make clear the goals of your plan and explain how success will be measured.
  • 13. The format of the presentation will be: · Created for an audience of Marketing Managers who you wish to approve the launching of your IMC plan. · 10 minutes + questions · Evidence of IMC – ALL strategies consistent and relate to overall plan · 15-20 slides created in PP, Google slides, Prezi or any format that you would like. · Slides will be primarily images with very few words · Presentation will be practiced and professional · Presenters will be dressed in business attire as discussed in class or appropriate costumes · Presentations will be interesting and awesome · Bonus marks for those judged the most awesome by their peers (1st place – 5 marks, 2nd place – 3 marks, 3rd place – 1 mark) · Will include the information and elements outlined below – these are guidelines Suggested Slides and Content of Presentation: Introduction Game summary and key learning from simulation Target market Objective/Overall Appeal Packaging – sample or visual of tag Advertising strategy – visual sample of actual ad, where, why and timing (Be specific) Direct Marketing - Social Media plan – visual, where, why, how do you get consumers engaged, timing Public Relations strategy – what, where, when Event Sponsorship – what, where, when Sales Promotion – visual, offer, where, timing Website mock-up Schedule of timing in table format Conclusion References
  • 14. All students are required to be present for all presentations to act as judges and support their peers. Failure to hand in an individual voting form at the end of presentations will result in an individual reduced grade on the project. MKTG 2150 Final Project Presentation Group name: _____________________________________________________ _______________ Content (Steak) Score Comments · Game Overview & Decisions · Final Decisions 1 2 3 4 5 6 7 8 9 10 Integrated Marketing Communication Campaign · Clear description of target market · Campaign clearly described and justified including appeal and creative themes · Creation and use of consistent brand identity · Packaging – eg or visual of tag · Advertising strategy – visual sample of actual ad, where, why and timing · Direct Marketing Social Media plan – visual, where, why, how do you get consumers engaged, timing · Public Relations strategy – what, where, when · Event Sponsorship – what, where, when · Sales Promotion – visual, offer, where, timing · Website mockup
  • 15. 1 2 3 4 5 1 2 3 4 5 1 2 3 4 5 1 2 3 4 5 1 2 3 4 5 1 2 3 4 5 1 2 3 4 5 1 2 3 4 5 1 2 3 4 5 1 2 3 4 5 Media Plan and schedule · Media chosen consistent with campaign and audience · schedule justified 1 2 3 4 5 1 2 3 4 5 References 1 2 3 4 5 Communication and Persuasion Introduction captures attention and manages expectations 1 2 3 4 5
  • 16. Timed perfectly using format · 10 minutes and 20 slides 1 2 3 4 5 Stunning, persuasive visuals- Slides 1 2 3 4 5 Effective Platform Skills -obviously well-rehearsed 1 2 3 4 5 Conclusion - Ends on a high, persuasive note 1 2 3 4 5 Total /100