- Music2go marketing simulation sails promotion manual#
- Music2go marketing simulation sails promotion full#
My decision making process began by analyzing the market from the previous year, comparing growth of all the companies in my world, and studying as much as I could about the industry. It was critical to gather as much information as I could so I could see which decisions were the most successful, and which areas of my strategy required revision. From there, I would typically make one or two changes per product each year. What was your strategy going into the simulation? By making fewer changes, I was able to reduce variability and know more precisely which changes were affecting my growth. Going into the simulation, my strategy was to increase awareness of my products as much as possible. I wanted to gain as much of the market share as I could, as quickly as I could, because I figured it would be more difficult to gain market share as time went on. How did you begin implementing that strategy? I also knew I needed to launch a youth focused product before a sports focused product because early in the simulation, the standard product is able to capture some of the sports segment, but it doesn’t capture any of the youth segment. I focused the majority of my budget on advertising and sales promotion. How did you familiarize yourself with the simulation? By studying the statistics and graphs in the manual, I was able to determine how much of the budget to allocate to both of these categories, and customize the distribution of funds going to the different channels within advertising and sales promotion.
Music2go marketing simulation sails promotion manual#
Reading the manual is critical to understanding the market in this simulation.
Music2go marketing simulation sails promotion full#
CHEGG SMART SIMS MUSIC2GO FULLĪt first, I just read the quick guide, but when I decided to read the full manual, my growth escalated rapidly. In addition to that, practicing in the single player simulation gives instant feedback on how different decisions affect growth in the industry. When I didn’t fully understand how a part of the simulation worked, like salesforce management for instance, I would play with different numbers in the single player mode. What resources did you pull on to develop your winning strategy which led you to the top of your course and then top in the Hall of Fame? It really helped me get a better idea of how it all connected. I relied on information I had gained from previous marketing courses I had taken, and like I mentioned before, the manual was a critical resource to my success. In addition, I created my own resource by making an excel spreadsheet that multiplied the reach of the different advertising channels per dollar by the percentage of each segment that used the different channels. What challenges did you face? How did you overcome these? This was incredibly useful as a quick reference to maximize the amount of people my advertising reached in each product segment. My first challenge was when I launched my first youth product. I thought I was a little aggressive with my projections, but they ended up being quite conservative. I lost a lot of sales because I didn’t order enough product. To overcome this I was much more aggressive in my projections for the next year and gained a majority of the youth segment. The second challenge I faced was maintaining growth towards the end of the simulation. I wasn’t able to overcome this, but after speaking with a classmate after the course I learned that I could have discontinued old product and launched new ones the next year. I knew I could discontinue products during the simulation, but didn’t understand that I could launch a new one in their place.
Had I known this, I wouldn’t have ended the simulation with all 4 products in the decline phase of the product lifecycle, and would have been able to sustain my growth.
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