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Market Place Live: King Computers
Transcript of Market Place Live: King Computers
Henry Mellon, Jill Brunori, Felix Hechl,
Colin Biggs , & Elizabeth King
Initial Marketing Strategy
Strategy behind Advertisement
Focus on our target market requirements from product design to advertising. Sell as many units as possible. Make the most profit!
What Was Our Initial Objective?
Our first primary segment was Mercedes and secondary segment was the Traveler. After the first two quarters, we realized that there was less competition in the work horse with only one computer company that occupied the Work Horse market.
Marketplace Live Simulation
SMP: Business Simulation- Professor King
- Market Skimming
- More for More
- High Margins
Our Original Mission
- Broaden Market to Workhorse
- Estimate Demand
- Determine Cost
- Evaluate Price Environment
- Choose Price Strategy
- Develop Price Tactics
Failed because of early expenses on a large factory and made two laptops
Made the ultimate Mercedes laptop with almost everything failed beacuse of price.
UNDERSTANDING WHAT TO DO
Produce as much as possible not to undermind the demand
Workhorse & Traveler & Mercedes
Maintain laser focus on needs
Missed opportunity- not opening office in Shanghai
CHANGED GAME PLAN= SUCCESS
Compare with competitors
Workhorse & Traveler Demand
Gave these two markets more attention
UNDERSTANDING FAILURES & RESPONDING
Early limitations affected later behavior
Price based on product judgment & margin objectives
Rebates were useful
High market share does not mean high profit
The Early Stages
Our overall strategy was to create adds that matched consumer tastes, prices, and needs for both desktops and laptops. We started off failing, but through understanding the game and gaining insight through others we developed the best adds.
We started with matching our brand of Mercedes and traveler to customers needs and wants. We didn't spend enough money on advertising and inadvertently created poor adds for customer needs.
Lack of media placement
Poor and Expensive Brands
We had significant growth in our adds because we changed our brands and advertisements to traveler and workhouse. In addition, we changed our adds to replicate competitors with large market shares. We made our adds copy exactly what our two brands were.
What did we learn from this?
The simulation allowed us to apply marketing concepts that we have learned throughout the program.
The simulation also allowed evaluation of where we could improve and what we excelled in after each quarter.
Each decision was critical-more diligence required in later Q's
Teamwork: Listening to everyone's view before making decisions
Be willing to change our market strategy completely and enter a new market= Workhorse. Constantly changing product and promotion until you reach success.
VP - Marketing
VP - Marketing Research
VP - Sales Management
VP - Manufacturing
VP - Accounting & Finance
Open in Paris and Chicago because of high demand for Mercedes and travler
Mercedes sales were poor, so we switched to workhorse and traveler
Hired 7 people in each city.
Gave them a lot of vacation time, high salaries, and good pensions.
This made them the most productive work force
Despite the titles and responsibilities, each team member contributed input to quarterly decisions.
Q1: Build Infrastructure
Q2: Reorganized Brand
Q3: Fine-tuning Operations
Q4: Creating Value
Financial Quarter Breakdown
Seek to increase sales of existing products to existing markets.
Create growth by selling new products in existing markets.
Emphasize both new products and new markets to achieve growth.
Introduce existing products to new markets.
Questions & Answers
Overall, we were extremely successful in our adds because we learned to spend a lot of money in a specific media preferences and developed strong adds on customer based needs.
Most Productive Sales Team by Q4
Rated number one ads by Q3
Developing a positive balance scorecard overtime
Use of marketing research
By quarter 3, accurately setting operating capacity to demand
Giving our sales team a lot of benefits.
Creating a large factory early
Poor manufacturing productivity and employee early
Our Mercedes product
Creating two laptops at beginning of game
Not opening in Shanghai
Workhorse sold very well
Assumed that demand would catch up with fixed capacity
Refocus on lean manufacturing
Stimulate demand push production towards fixed capacity
Maintain lean manufacturing principles
Anticipate product life cycle when setting operating capacity and purchasing fixed assets
King Computers is an innovative leader in creating the highest quality technology and providing award-wining service based out of Chicago, known for its rich history of industry leaders and tycoons. Our mission is to serve the future "kings," industry leaders with advanced designs.