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Marketing 250: Backpack Simulation

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by

sarah christiansen

on 3 December 2014

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Transcript of Marketing 250: Backpack Simulation

Marketing 250: Backpack Simulation

By: Chris Millan,Sarah Meredith, and Sarah Christiansen
Opening Strategy
Target Market: University Students
High unit sales volume, low price
Keep advertising at a reasonable cost ($1000)
Distribution: Dept. Store, University, Online Discount, Direct.
GOAL!
Takeaways
Thank you!
The Other Guys
Team 4: Outdoor
Team 5: University Students
Team 6: Outdoor
Team 14: School Children/Outdoor
Troy Taylor: School Children
Ending Strategy
Jumping Ship:

Our Turning Point
A New Look:
Increased profit margin
Adjusted features
Increased focus on target market
Maturity Stage Strategy
Competition is intense:
Final Results
Standing: First place
Final Balance: $31,414
Market share: 27%
Avg. units sold: 371
Avg. Marketing Cost: $1,445
Team 7
The Final Look
What Wasn't Working:
Pricing (high production costs, low sales price)
Our product
Competition in our target market
Increase advertising
Use of discounts/promotions
Just noticeable difference
Expansion: channels of distribution
Team 5 pricing issue
Net Profit
New target market: Urban Commuters
Marketing:
Internet
Newspaper
Pricing:
Focus on raising profit margins by increasing price
Any Questions?
Overall
Success:
First Place!
Pricing Strategy
Mistakes:
Abuse of mdf's
Low product awareness
Communication
Exploitation of available resources
Research and development
Take well calculated risks
Final Standings
Full transcript