In this single-player simulation, students define and execute a business-to-business marketing strategy at a manufacturer for motors used in medical devices. Customers are divided into market segments based on their requirements for two key motor performance features and price. Students must analyze each market segment and decide which new customers they want to acquire while also considering the loyal customers they must retain. A successful go-to-market strategy requires careful consideration of a variety of interdependent factors. Students set a list price and then set discounts for each large market segment and for a segment of small customers who purchase through distributors. Students allocate sales and marketing resources for each targeted segment including setting the level of spending on marketing communications and market research. Students can listen to customer feedback through dynamic video interviews and gain important insights into the effectiveness of their marketing strategies. Ultimately students must achieve a sustainable revenue stream to maximize cumulative profit for the company. The second release of this simulation retains the immersive experience of the original while providing streamlined analysis tools for students and enhanced administrative features for instructors.
Understanding the link between marketing strategy formulation and effective execution. Using segment and customer needs analysis to make product marketing and design decisions. Understanding segmentation, targeting, and positioning. Creating a pricing strategy. Managing channel conflict and maintaining consistency across channels. Using metrics to analyze performance. Appreciating the relationships among customer satisfaction, customer buying patterns, customer loyalty, and firm profitability.
Market planning strategy;
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