Simulation Review

Simulation Review - Quarter 2 Brands Designed During this...

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Quarter 2: Brands Designed During this quarter we only designed one brand, called Technojoy. I believe our thought process for only designing one brand was that we did not know if we would be successful or not, and so we needed to test the market to see what worked and what didn’t. This brand was a workhorse We decided on workhorse because it would be the cheapest brand to produce, and it was popular in most any place we could set up our company When we were designing the actual computer we looked at customer needs, and then gave our computer those attributes, with one exception. Our workhorse computer had a large screen instead of a normal screen We think this screen difference may have played a part in our lack of sales for future quarters, because our computer was the same as everyone else, cheaper in some cases, but would not sell with the numbers that other workhorses were Price of Brands We set our price for our first brand at $2,500 with a $200 rebate Looking back on this we should have definitely charged more for the computer. Although, this decision was also a little harder because we had no idea what would work and what wouldn’t in terms of price. Our thought process for choosing this price was that we looked at what customers were willing to pay, and then just chose that price We knew that it wouldn’t cost too much to produce because it was a Workhorse computer, so we could afford to not charge too much This backfired on us when we didn’t sell that many computers, and are price was low comparatively I know when our results came back, customers had a 100% liking of our price, meaning we should have charged more because even the customers thought the price was really low Sales Priority This obviously didn’t have that much effect in this quarter because we only had one computer, thus our one brand was our first priority Ad Copy Design This was actually the part of the quarter where we were the most successful Our ad that we designed for Technojoy was given a high rating at the end of the quarter Our method when we were designing our ad was just to avoid all the fluff and pizzazz that sometimes goes into ads, and just tell our consumers what is in our computer We figured that the consumers who are buying a workhorse computer do not want all the bells and whistles, and so we just listed the qualities of our computer that met our customers’ needs We also made sure to not put too much on the ad, but instead to only bullet out 5 characteristics of the computer so the ad was not too cluttered with information Media Selection and Frequency This part of our simulation is what really hurt us from the beginning We did not put nearly enough ads into circulation or spend enough on advertising We only had 8 ads total, in all of Chicago
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This note was uploaded on 09/20/2011 for the course MKT 291H taught by Professor Ms.jantaylor during the Fall '10 term at Miami University.

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Simulation Review - Quarter 2 Brands Designed During this...

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