MARKETING STRATEGY GAME
FREE WINNING GUIDES AND TIPS (update 2019)
Part 1
The guides and tips are experiences from hundreds of
games and rounds over many years helping and supporting MBAs with Marketing
Simulation Games. After reading all the following guides and tips, we win half
of the game.
It
has 64 pages, quite long, but very detailed guides for almost every thing
needed to play the game, from overview to all the decisions to make for each
round.
3.
Use an Excel file to
keep track of R&D, Production for all rounds
Or
download FREE Excel file – Link at the end of this Guides
Use
this Excel file to keep all the data about the competitors and calculation of
sales forecast and production. Also use this to keep track of R&D and ideal
spots for each round.
This
will help we analyze and predict what the competitors are up to. To get Free
Excel file with formula to calculate sales forecast, production, R&D, send
an email to support email at the end of this guide.
The game has two categories
of products, Sonite and Vodite. (They are durable consumer products, such as
computer, digital camera, smart phones, laptop, tablets…). Sonite products have
50 attributes, but 5 top important include: processing power, display size,
design, battery life and features (think about PC, Laptop, smart phones).
Vodite products also focus on 5 key characteristics, including: resolution,
energy, carbon footprint, connectivity and apps (thinks about smart phone,
tablets…)
We and our team will manage a
company, competing with other five companies in this industry. Companies name
start with L, M, N, R, S, T. We will involve in all the marketing decisions,
from R&D, products specification, target customers, brand awareness, market
shares, distribution coverage, profitability, competition, long term
strategies. Brands are developed based on Project, project name start with PO
for Sonite and PE for Vodite. Brand names start with Company first letter and O
for Sonite and E for Vodite, eg. LOOK and LOOPEA, MOST and MOVE, or ROCKY and ROLLE
(Sonite) and LESOLEE, METOR, TEMPO, SEASTAR (for Vodite).
We can launch the new product
from Round 5 and gain good sales and profit all rounds from 6, 7 to 8. Do not
be afraid that our product won’t be good enough. We can always change it later
through R&D. Consumer’s awareness and perceptions are the most important
factors to gain the market share in the Vodite market.
Understand the game and all
the software functions to transfer business ideas into the game, competitive
ideas into the game. Ask professor any question right from round 1 or even talk
to others who already played this game. Read all winning guides and tips from
Internet, and tutorial videos, can save time and start with the right decisions
and direction.
To improve the products every
round. See the samples decisions for R&D at the end of this guides. In this
marketing simulation game, product life cycle is applied, so, products need
updated every round to close to customer expectation or perception (ideal
spots).
Trying to target more
segments with one product will be the disadvantage for the long run. In fact, we
can still have a product, that sell mainly in one segment (70%) and in some
other segments (20% and 10%).
Don’t be afraid to take short
term losses for long term gains. Be creative but smart about our decision. If we
invest in R&D, new product, we may have good sales but lower net profit in
round 1-2-3 but will have both highest sales and profit, leading the game all
rounds from 4 to 8.
Make sure that we have enough
money to keep our product in the portfolio competitively. Too many products
without management will decrease the market share in the long run. One of the
winning strategies is to have three products in Sonite (add one more product in
round 5 or 6) and one new product in Vodite from round 5 or 6.
In early round to find needed
data and numbers to support our decisions. Eg. Sales, Unit sold, Market
demands, Segment Growth, Product specification of competitors, competitor
prices… Map out our team decisions. Know why we are doing what we doing, have
data, and numbers to support it. Do not go with “I think we should”. That’s
vague and dangerous. Win the game is important, and learning the reasons to
make right decisions are also equally important.
Performances in the later
periods determine our win or loss, so do not get too comfortable with the
initial success. Start early to get good sales and profit from early rounds,
and invest to launch new products from round 5 or 6 (or even earlier weeks)
People said buy all the
reports. But I think it is redundant. A couple of research reports I suggest
buying are:
i. Industry benchmarking: we will
be able to see what other teams spend on R&D, thus predict their next
steps.
ii. Market Report: shows how much
product did other teams sold, their prices, and based costs
iii. Consumer Panel: shows the market
share each product gains in each segment.
iv. Distribution Panel:
market share per distribution channel. This will help to allocate the
commercial team
v. Semantic Scales: Brand
perceptions, important characteristics that consumers want.
vi. Market Forecast: Helps we
calculate production plan.
vii. Competitive advertising and
competitive commercial teams: shows how much competitors spend on these two
categories. Help we determine how much we should spend to gain more market
share.
In round 1,
select the right target segment for 2 products, eg. LOCKERERfor Savers and LOOPEA for
Professional. Note that products are
sold in all five segments in early rounds, but about 60-70% in the target
segment. In round 4 or 5 or 6 launch a new product, focus on one more segment,
eg. High earners. And also one more
new product in Vodite focus on Followers
at the end.
Have a reason or strategy behind each decision our team makes.
Don’t pull numbers out of our head. “120,000 units sound like a good
number of units to order.” NO! We don’t use phrases like “it sounds
good” or ” I think” with Markstat. We are an MBA in training. Think
like it! So, just check market demand and also market growth to estimate sales
forecast for each round. Also, look at competitors’ sales.
Marketing Strategy Game gives our more information than we can
handle. Determine as quickly as possible what data our team needs to
focus on. If our team starts developing a bunch of products, assign
product managers to monitor individual results, changing trends, and be the
decision maker behind any R&D modifications.
Give generously in both in media and market research budgets to insure our
product’s success. We always gave 7-15% of our media budget to market
research. Advertising is a real key to the game, our brand awareness, and
ultimately, our sales.
If we want to go Vodite, start saving money. Just a little tip:
It will take around $8,000 to create a Vodite project. That is alot in the Marketing Strategy Game
world. Our team’s average budget for a given period was about the
same amount. So, it requires saving for 3-4 rounds to start introduce a new
product in Vodite.
Go into Vodite. My team researched
other games outside our own. There is a lot of money to be made in
Vodite. The winner in our game and in other games usually had at least one
Vodite in the market
------
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Personal Support for 2 Rounds
Contact: Tom, Dr,
Associate Prof.
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Simulation Games Support - Since 2012
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