4 some of the valuable lessons that i learned

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#4 Some of the valuable lessons that I learned throughout the markstrat simulation were definitely: 1. Team Work Being a team player is very important. There must be an environment conducive to being able to get work done in the most efficient and effective ways. Getting the task done can be so much easier when there is a good vibe amongst those working together. 2. Always look at what your competitors are doing
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If they have majority of the market share and they are drawing a lot of customers then they are an example to base decisions off of. Don’t be afraid to ask for loans to make decisions that have a possibility of benefitting you in the long run. 3. Take risks If they have majority of the market share and they are drawing a lot of customers then they are an example to base decisions off of. Don’t be afraid to ask for loans to make decisions that have a possibility of benefitting you in the long run. 4. Forecasting , but not looking too far ahead. Lastly, you should always plan ahead but in a practical way. If you’re looking at round 10 and you’re all the way in round 2 then you should take a couple steps back. However, if you’re in round 3 looking to round 5, then that could definitely help your decision making and have your team become very successful. 5. Customer Service The customer is the most important when it comes all your decision making and planning. The customer is who you are making the product for and they need to be satisfied. Without the customer you can never be successful. Therefore, the customer should be the first thing taken into consideration when trying to create a successful brand/product. #5 Peer Evaluation Name Bonus Amount 1. Khadijah Peek $312,500 2. Jessica Afriyie $312,500 3. Yihui Huang $312,500 4. Margaret Jones $62,500
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Khadijah Peek Albatross Team S MAR 445 - Brand Management Final Report Dinesh Gauri December 13 th , 2012
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