Marketing Simulation Strategy Assignment

Marketing Simulation Strategy Assignment

In teams of 3-4 we will play the McGraw Hill Marketing Practice Simulation that was included with your book purchaseThere are many benefits to using a simulation including:

· the ability to learn through performing an action in order to get to a certain outcome,

· the improved retention of knowledge and its applications with experience of integrating the concepts learned in class and applying them in a strategically consistent manner,

· the benefit of consistent, constant, and immediate feedback,

· It is really fun!

There are three elements to your completion of this project:

1. 2 page document outlining your team’s original strategy and the reasoning behind your decisions, this is worth 15 points. To complete this it is important to read the guides and play the tutorial games provided to you.

2. Playing the simulation for at least 15 rounds this represents 10 points dependent on your placing. The ultimate goal is to make the most money.

3. Final Presentation where you will create the promotional campaign for your product and provide an overview of your final position. This is worth 75 points of your final grade.

Part 1

The document outlining your initial strategy for the simulation will include the following:

(Hint: approx. 1 paragraph for each point)

· Introduction and conclusion

· Discussion of each strategic decision including:

· Segment chosen and why

· Product features and how they meet the needs of the segment

· Pricing strategy, actual price and margin

· Distribution decisions with reasoning

· Communications decisions both message and media

· Approximately 2 pages, organized, edited, single spaced, 12 point font, stapled with a cover page with first and last names of all contributing group members.

This document is due at the beginning of class on the day we start the game. It is essentially your first set of decisions so it is important that everyone on the team agrees. You will have opportunity to practice before the simulation begins!

Part 2

Game on! We will play about 15 rounds as per the class schedule. The top team based on the Total Net Profit over the course of the game. Top team gets 10, second team 9 and so on. Everyone in the group must be in class on the days that we are playing the game.

Part 3

This is where we put together all that we have learned and apply the concepts learned during the course and simulation. A 10 minute presentation will be created and practiced that illustrates your final results from the simulation and your creative department’s work on creating an effective promotional campaign. Your group will create an integrated marketing communication strategy, decide upon the elements required (see text), develop an appeal, and design and produce the creative elements (actual ads, social media, public relations, sponsorship, sales promotions and direct pieces). It is important that you make clear the goals of your plan and explain how success will be measured.

The format of the presentation will be:

· Created for an audience of Marketing Managers who you wish to approve the launching of your IMC plan.

· 10 minutes + questions

· Evidence of IMC – ALL strategies consistent and relate to overall plan

· 15-20 slides created in PP, Google slides, Prezi or any format that you would like.

· Slides will be primarily images with very few words

· Presentation will be practiced and professional

· Presenters will be dressed in business attire as discussed in class or appropriate costumes

· Presentations will be interesting and awesome

· Bonus marks for those judged the most awesome by their peers (1st place – 5 marks, 2nd place – 3 marks, 3rd place – 1 mark)

· Will include the information and elements outlined below – these are guidelines

Suggested Slides and Content of Presentation:

Introduction

Game summary and key learning from simulation

Target market

Objective/Overall Appeal

Packaging – sample or visual of tag

Advertising strategy – visual sample of actual ad, where, why and timing (Be specific)

Direct Marketing – Social Media plan – visual, where, why, how do you get consumers engaged, timing

Public Relations strategy – what, where, when

Event Sponsorship – what, where, when

Sales Promotion – visual, offer, where, timing

Website mock-up

Schedule of timing in table format

Conclusion

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