- #Music2go marketing simulation sails promotion how to#
- #Music2go marketing simulation sails promotion manual#
- #Music2go marketing simulation sails promotion registration#
#Music2go marketing simulation sails promotion manual#
Using the information provided in Chapter 2 of the Music2Go Player’s Manual write a brief description of the three market segments in the Music2Go MP3 Player Market.To complete this written assignment you will need to have open the Music2Go Player’s Manual and be logged into your Music2Go company (log in through the Smartsims website). Part A should be two-three pages in length. To understand the simulation and achieve the highest TMC you can, you must first conduct a Situation Analysis. At the end of the simulation, you will then be graded on your Total Marketing Contribution (TMC). Marketing Contribution is your profit after sales and marketing expenses have been deducted. Your goal in Music2Go is to maximize Marketing Contribution for your MP3 Player company. NOTE: Before completing this assignment, be sure to complete the Assignment 03.1: Music2Go Decisions before Rollover #1.įor Assignment 03.2: Music2Go Situation Analysis and Marketing Plan, follow these detailed directions:
#Music2go marketing simulation sails promotion registration#
After registration has been completed, it is strongly recommended you start by reading the Music2Go Assignment Schedule, Music2Go Player’s Manual, and view the Music2Go Tutorial Videos available through the Smartsims website.įor this assignment you are required to complete each of the following: To begin you must first register for the Music2Go Marketing Simulation through the Smartsims website. The success of your decisions will be determined by your Total Marketing Contribution (TMC) over the length of the simulation. In following weeks you will be able to make Sales Promotion decisions, conduct Product Development, and launch New Products. These decisions will be Retail Price, Retail Margin, Advertising budget, Advertising mix, and entering a Sales Forecast. In the first decision period, you will be making decisions for the company’s only product. Music2Go will require you to analyze Company Reports and Market Research to implement your own Marketing Plan while keeping to a fixed budget.Įach week you will need to log into the Smartsims website, open your Music2Go company and make decisions before the Sunday midnight (MST) rollover (decision deadline).
“This will reduce my production costs but I need to reduce my price to remain competitive, thus reducing my gross margin per unit.The Music2Go Marketing Simulation gives you the opportunity to formulate and implement a Marketing Campaign within your own company (an MP3 Player Manufacturer).“Is the Research and Development cost worth the reduction in the production costs?”.The best method for reducing your Cost of Goods Sold is conducting product development to reduce the cost of your product you’re selling. Distribution Cover and Sales Promotion (once Sales Promotion comes available to you).Some Product Details (or All Product Details).When evaluating your decisions from the previous period you can look to reports like:
#Music2go marketing simulation sails promotion how to#
When you have sales promotion available to you (after the first rollover), check the how old your product is within the Distribution Cover and Sales promotion report and see how to target your sales promotion based on your product’s lifecycle within the Market Information report. Check the Media Viewing Habits of the market segments, and take into account the media reach of the different media types. Check the market information report, check to see what the market segment you are marketing to has the highest sensitivity to (higher sensitivity means higher change in sales volume). Make sure you are reaching your customers through the most effective methods and appealing to their desires/wants/needs. How do I spend my marketing budget efficiently? How do I increase Marketing Contribution? Your TMC is then just the sum of your annual marketing contribution figures over the length of the simulation.
Wholesale Sales Revenue – (Cost of Goods Sold + Marketing Expenses)
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