MARKETING STRATEGY GAME

FREE WINNING GUIDES AND TIPS (update 2019)

Part 2

1. Take a risk to win the long term strategy game.

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.

2. Tip: Win with four, five for six products

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.

3. Read the report every round

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.

4. Again, this is long term strategy game

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)

5. Buying the market reports

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.

6. Tip: What to focus in Round 1

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.

7. Have a reason for any decision

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.

8. Do not over analyze

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.

9. Focus on Advertising.

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.

10. Decide in the first round if we want to go into Vodite.

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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Tuesday, January 8, 2019

Best FREE Markstrat guide and helpful marktrat tips to win top results - Part 2/3

1. Take a risk to win the long term strategy game.

2. Tip: Win with four, five for six products

3. Read the report every round

4. Again, this is long term strategy game

5. Buying the market reports

6. Tip: What to focus in Round 1

7. Have a reason for any decision

8. Do not over analyze

9. Focus on Advertising.

10. Decide in the first round if we want to go into Vodite.

Markstrat 500

Markstrat 150

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