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MK4247 Group project markstrat
- You must form a team with other students. Overall, there are six firms in your industry and your team is one of these firms. Each firm is aiming to become the most profitable, and with the highest market share in the industry. The major objective, however, is to allow you to make important marketing decisions and experience the impact of these in your market and your firm’s performance, as well as the financial implications of your marketing decisions.
- Each member of the team is responsible for ONE or maximum two brands (Brand Manager).
- There are two product markets in this simulation: the Clinites and the Nutrites. You start with two Clinite brands, but from Period 2 onwards you can launch more brands in either the Clinite or the Nutrite market.
- Through the R&D projects, you can modify a brand’s characteristics or launch a new brand. Each firm can launch up to five brands in the market.
- A total $budget is indicated each period for your firm. You cannot exceed this budget.
- Each period is equivalent to a fiscal year.
- Each Brand Manager is responsible for setting his/her brand’s objectives, strategy, and tactical actions for each of the 8 periods, make a sales forecast, set prices, and prepare the “Analysis of Key Strategic and Tactical Issues per Brand” with each decision.
- The Marketing Team decides during a meeting the allocation of the available budget: a) on advertising and advertising research per brand, b) number and deployment of the salespeople, and c) the purchase of the required marketing research studies.
- Once ready each brand manager inputs all necessary figures on line and prepares the “Summary Markstrat Decision Form”. Attention: You need to respect deadlines very strictly.
- The “Summary Markstrat Decision Form” and the “Analysis of Key Strategic and Tactical Issues per Brand” should be submitted to the instructor in hard copy each time a decision is made (weekly).
- Weekly schedule: a) Decisions are input on line on the dates specified in the course outline b) Results are available, c) the rest of the days: analysis, discussions, meetings, decisions…
As part of the 2nd Assessment, the Brand Manager must prepare to present the major strategic actions and results. See the file of the 2nd Assessment for details.
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