Marketing Simulation Paper.docx - Section 1 Q1 Q2 In this first section the foundation of the company was decided upon and actions were taken to test

Marketing Simulation Paper.docx - Section 1 Q1 Q2 In this...

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Section 1: Q1+Q2 In this first section, the foundation of the company was decided upon and actions were taken to test the market for the product. In quarter one, decisions were made about the company’s name, target segments, and the responsibilities of the leadership. I decided to name the company Carbon Frameworks. I chose this name because I believe that it embodies who and what the company is and does and it also because it has a nice ring to it. In my opinion of course. I will say that I was rather excited to see that in the simulation, we are marketing and selling bicycles with their new carbon frames. I am an avid mountain biker myself and I believe that it will help me to do better in this simulation. As such, I decided that my first priority for my target segment would be the mountain bike segment. Seeing as though I know much about the industry already as I am a consumer. I also chose this segment because looking at the research this segment has a market potential that is in between recreational bikes and bikes made for speed. Despite the smaller market potential compared to recreational bikes, I believe that I have the knowledge and ability to make and market these types of bikes to insure the success of the company. When it came to decide the responsibilities, I chose to be the President of the entire company and oversee the overall leadership of the company and for my secondary responsibility I chose to be the VP in advertising so that I will be able to make sure that the right people and the right audience are being targeted and that the advertising that I will do will make them want to purchase the carbon bikes. I also decided to open my first store in New York City, as it has the greatest market potential for mountain bike riders according to the chart provided on the simulation. Despite the high cost for opening a store there, I believe that the revenue
will be enough to satisfy the cost. In the second quarter more decisions were made regarding the brand, pricing, advertising, and sales channel. In the Brand management section, I had to name and design a brand of bicycles for my intended target segment. I named my first brand, Rugged Bikes, as I wanted consumers to see the brand as something that is rugged and tough enough to withstand the hard drops, and sharp turns that are often found on mountain biking trails. The name is often the first thing consumers see and know when they see a new brand and first impressions are very important. The marketing strategy I chose is a bike that is tough and reliable. As such with all of the bike parts and components, I added parts that mountain bikers would like to have on their bikes. The frame I chose was the rugged agile design intended for rough terrains. This was the obvious choice. For the tires I chose the mountain tires with high grip, so that the riders can have more traction on the dirt or rock so that they can tackle tight turns faster and have more control on their descents. I chose the standard disk brakes over the standard

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