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Name of Team: Team Andrews
Products Sold: Able, Ace and Awe in the USA and Germany– High Tech) with hopes of capturing some customers in the low tech market
Respond to all of the following:
Purpose of CAPSIM
Role of the Marketing Manager in the Global Niche-Differentiator Strategy
Example of how to cite content from the online classroom resources (APA citation) using the title:
In-text citations are to be used throughout the report. Example: (Data Analytics, n.d.)
Example of a format that can be followed, but input must relate to the actual reports that will be provided at the conclusion of each round.
As the Marketing Manager, I was responsible for establishing a presence using a local marketing strategy in the USA, then in Germany.
Met with the primary and secondary managers of each functional area (R&D, Production, and Finance) to discuss strategy and ideas. After reviewing CAPSIM reports, I made marketing projections based on information contained in the reports regarding price, sales budget, promotion budget, and forecasts for the number of units to be sold. Those projections were made taking into consideration the target market, available price range, product awareness, customer accessibility, actual/potential units sold, and the segment demand. Decisions were also based on the performance of other teams and predictions of their possible next moves.
Examples of decisions and the impact:
Round 1 (USA/Able/High Tech) – Each team started with a market share of 16.7%. However, the thought was that each team would not forecast at its full potential, which meant there was a chance that Team Andrews would end up with a larger market share and would be able to sell more units. Therefore, the forecasted amount was higher than the number of units actually sold. One of the effects of this decision was that since we didn’t sell all units forecasted, we ended up with leftover inventory.
Round 4 – (Germany/Awe/High Tech) – The product was sold at the maximum price of 45 Euro, promotional and sales budget remained at 2,000 and forecast was set at 2050 to be in line with the potential units sold. This strategy resulted in an increase of our profit margin and customer satisfaction, which were 2 of the areas we strived to improve.
After each functional area manager shared their planned approach, discussions took place to determine the pros and cons, adjustments were made accordingly, and decisions were finalized.
Following each round, results were reviewed, and strategies were adjusted as needed. This was the practice for each round.
As part of the debrief regarding the local strategy round, the team reviewed the results and discussed lessons learned that may be helpful to each functional area of the global strategy rounds.
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