Lecture Sim - The Goal is to Maximize Learning and Not Profits But winning = points 50 of the firm’s decisions will prove to be unacceptable –

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Unformatted text preview: The Goal is to Maximize Learning and Not Profits. But winning = points 50% of the firm’s decisions will prove to be unacceptable – be careful Responses based not only on your decisions but that of competitors • 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 • 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 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 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 here are many startup costs...
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This note was uploaded on 02/26/2012 for the course CSR 480 taught by Professor Staff during the Fall '08 term at Purdue University-West Lafayette.

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Lecture Sim - The Goal is to Maximize Learning and Not Profits But winning = points 50 of the firm’s decisions will prove to be unacceptable –

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