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Unformatted text preview: Marketplace business simulation, Decisions by Quarter, Introduction to Marketing ~ 1 ~ Decisions by Quarter Quarter 1: Setup your company, evaluate market opportunities and prepare for test market. • Determine desired image of company- Designate a company name • Analyze market opportunities—evaluate segments, geographic markets, and potential competition- Evaluate market survey results in End User Profile • Establish corporate goals and strategic direction- Select target segment- Establish strategic direction • Select test markets- Open sales office Quarter 2: Go to market to test your strategy and market assumptions. • Create customer value—match components to benefits desired (quality function deployment (QFD))- Design 1 or 2 brands • Marketing strategy—evaluate tactical options and choose marketing mix- Brand price - Price promotions- Sales priority • Develop media plan and budget—ad copy design, media selection, and ad frequency- Place advertisements in media...
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- Spring '10
- Marketing, sales force, Ernest R. Cadotte