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lecture Sim ECLive_Q2

lecture Sim ECLive_Q2 - The Goal is to Maximize Learning...

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The Goal is to Maximize Learning and Not Profits. But winning = points
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50% of the firm’s decisions will prove to be unacceptable – be careful Responses based not only on your decisions but that of competitors
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Set selling prices Develop advertising campaign Design 2 ads, one for each brand Determine number of placements per ad You cannot develop sales channel Segmentation is key… marketing for a particular segments is not effective for another Key tip- segment and target
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Schedule production Forecast demand Set operating capacity Set desired ending inventory Run factory simulation, check numbers Contract for market research on customers and competition Check pro forma financial statements
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The Market is not waiting for you to take their orders. You must create the market Sell brands that Customers want and at a price they are willing to pay Inform and persuade Customers to buy a PC through advertising Competition is good it creates consumers Forces you to innovate and improve
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Costs – production, marketing, overhead Profit goals What Market will bear Competition Be careful- worse thing you can do is retrench marketing expenses Focus on best segments and market to them Make sure brands and ads are the best…rebates work
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