This was a course project, and great experience. To summarize, our team (Tech Enterprise) lead and placed first in this business simulation against other great competitors; and tied the aspects of the course to the simulation (and vice-versa).
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Market Plan Presentation - Course Project
1. Marketing Plan for Tech Enterprise: TechENT Computers Quarters 1 – 9 Daniel Cora | President - Overall Leadership | VP - Finance Raymond Cross | VP - Marketing Research | VP - Sales Management Bryan Gulebian | VP - Sales Management | VP - Advertising Radim Jurca | VP - Brand Management | VP - Marketing Research 1
2. Executive Summary Tech Enterprise is a microcomputer strategic business unit created to target segments in Asia, North America and Europe. Our mission is to provide a line of microcomputers branded TechENT, strategically and competitively to meet customer needs and costs. While providing business opportunities for ongoing growth, service, and innovation. Tech Enterprise is headed by four officers; Raymond Cross, Radim “Dino” Jurca, Bryan Gulebian, and Daniel Cora. The success of our SBU is attributed to the formation and expertise of these officers in the ability to lead and strategize in a competitive market. The focus to customer needs and business opportunities secured Tech Enterprise to a profitable position in the market. The market plan will detail strategies and results around scorecard items at target segments. This will include; advertising, branding, financial positioning, marketing effectiveness and performance. As well as, TechENT’s product sales, channel distribution and contingent efforts to remain dynamic and fluid in the market enterprise of technology. We are positive we are gaining the confidence of corporate head quarters while leading the scorecard overall. 2
3. Table of contents Review of financial and market performance during the past year Assessment of current situation and the market Customers Competition Company’s strengths and weaknesses Major problems/opportunities to be dealt with in next year Marketing Strategy for the next year in business (What will it take to get ahead or stay ahead?) Brand Strategy Pricing Strategy Advertising Strategy Sales Channel 3
20. Major problems/opportunities to be dealt with in next year OPPORTUNITIES Further growth in target markets to capture more market share Potential to add 1 or 2 markets to target markets and expand overall market share Look at buying out competitor CSI, market leader in Workhorse and Innovator markets Continue to develop new Technology in R&D PROBLEMS Lost some market share in Mercedes, once dominated the market and still lead but need reverse the trend and maintain lead Still manufacturing 5 brands in all and may need to consider simplifying our markets down to 2 or 3, or whether to push forward with 3-4 markets 12
22. Brand strategy Continue to develop the two target markets of Mercedes and Travelers Keep funding R&D to fuel new technologies and keep brands ahead of competition Look at further development of other target markets and determine their potential for heavy investment Look at adding additional brands within Mercedes and Travelers to give consumers more choices and create more market share 14
23. Pricing strategy Keep competitive edge in pricing by using rebates as necessary Look at Mercedes market and either lower price or increase rebates to push price judgment higher Keep an eye on competition pricing to ensure we are competitive while still leveraging our brand judgment Now that we are hitting better cost points due to the quantity we are producing we should look at lowering prices as needed to keep or gain market share but still keep profits in those targets at maximum levels 15
24. Advertising strategy Continue to spend in training for reps for long term sales Assess current bonus programs and determine if they are impacting sales Use bonuses to create sales opportunities in Qtr 4 or in new product lines for show term enhancements Continue to utilize both regional advertising and local advertising for maximum results Watch results against advertising expenditure to ensure we are not hitting points of diminishing returns 16
25. Sales channel Assess and reassign proper sales rep staffing levels by determining what the average number of sales per rep should be and then determining the budgeted number of sales per office will be for the year Look at our customer support staffing and determine if we are meeting the needs of our clients and adjust as necessary Look for new market opportunities Adjust rep sales force based on target markets once determined how many targets we will continue to go after this next year 17
26. References Peter, J. P., & Donnelly, J. H. (2009). Marketing Management: Knowledge and Skills (Ed 9). New York, NY: McGraw-Hill Irwin. 18
Hinweis der Redaktion
Tech Enterprise is a microcomputer strategic business unit created to target segments in Asia, North America and Europe. Our mission is to provide a line of microcomputers branded TechENT, strategically and competitively to meet customer needs and costs. While providing business opportunities for ongoing growth, service, and innovation. Tech Enterprise is headed by four officers; Raymond Cross, Radim “Dino” Jurca, Bryan Gulebian, and Daniel Cora. The success of our SBU is attributed to the formation and expertise of these officers in the ability to lead and strategize in a competitive market. The focus to customer needs and business opportunities secured Tech Enterprise to a profitable position in the market. The market plan will detail strategies and results around scorecard items at target segments. This will include; advertising, branding, financial positioning, marketing effectiveness and performance. As well as, TechENT’s product sales, channel distribution and contingent efforts to remain dynamic and fluid in the market enterprise of technology. We are positive we are gaining the confidence of corporate head quarters while leading the scorecard overall.
Our financial performance above indicated that our marketing strategies and decisions for fiscal year 1 created profits for corporate headquarters. These strategies included sound decisions around placement of sales offices and advertising campaigns, to name a few, to effectively promoted all of our products to the right consumers. As evident above, it drove our gross margin and cumulative net profit for our division positively through Quarter 8 and anticipation to continue forward through the next fiscal year.
Our market performance is measured by how well our marketing division was able to create demand in the primary and secondary segments. The above chart combines all our segments we competitively promoted our products in. Cost Cutter, Innovators, Mercedes, Workhorse and Traveler segments, we accomplished top market demand over our competition through concise placement of advertising and offering features beyond what consumer’s expectation was. That being our number one goal, we excelled further than our competition and what we anticipated through Quarter 8 and beyond.
In addition to market demand, we worked tremendously hard to gain top market share in all segments that we placed our products. Unfortunately, we didn’t meet our goal by not gaining top market share in three of the five competitively managed segments. But, going forward into fiscal year two, to improve in these three segments by adding more features to make these products more conducive to what our consumer need and want to propel them to new levels in business productivity.
Our two top target markets were Travelers and Mercedes. We finished the year as number 1 in both categories. Brand Judgment for both brands scored well: Mercedes – 95 and Travelers – 100. Our initial strategy was to design brands that would satisfy customer needs. We continues to invest into R&D to ensure that our brands remain competitive in the marketplace. We invested a total of $15.5 million into R&D during quarters 5, 6, and 7.
We felt like we did not have any competition for a while, which gave us an opportunity to grow. By Q6 and Q7 our competitors operated in the same cities as we did. We lost some ground during Q7 with the brand product for the Travelers market. As we expanded into all cities Our Travelers market was outperformed by TurboComp AS in Q7, because their product already had the two features we were just developing. We only controlled 31% of the market, whereas TurboComp AS controlled 50%. Our R&D investments in Q7 paid off and we controlled 53% of the Traveler market in Q8. We learned how critical it is for a company to be the first to the market.
It may sound arrogant, but we really did not show many weaknesses during the simulation game. We started strong and we stayed strong to the end. We focused on all markets and operated in all territories. Our aggressive business model is best described by the following statistics:Advanced Balanced Scorecard - Strengths WorldWide Computers Tech Enterprise Phoenix PC Total Performance 11.611 159.217 7.974 Financial Performance 30.691 42.200 22.574 Market Performance 0.220 0.465 0.390 Marketing Effectiveness 0.780 0.887 0.825 Investment in Future 1.000 1.007 1.000 Wealth 2.205 9.080 1.098
Some of the opportunities we were discussing as a team were not available in the game itself. We talked about acquiring some of our struggling competitors. We also talked about sales and advertising through Internet and other emerging technologies.
Continue to develop the two target markets of Mercedes and TravelersKeep funding R&D to fuel new technologies and keep brands ahead of competitionLook at further development of other target markets and determine their potential for heavy investmentLook at adding additional brands within Mercedes and Travelers to give consumers more choices and create more market share
Keep competitive edge in pricing by using rebates as necessaryLook at Mercedes market and either lower price or increase rebates to push price judgment higherKeep an eye on competition pricing to ensure we are competitive while still leveraging our brand judgmentNow that we are hitting better cost points due to the quantity we are producing we should look at lowering prices as needed to keep or gain market share but still keep profits in those targets at maximum levels
Continue to spend in training for reps for long term salesAssess current bonus programs and determine if they are impacting sales Use bonuses to create sales opportunities in Qtr 4 or in new product lines for show term enhancementsContinue to utilize both regional advertising and local advertising for maximum resultsWatch results against advertising expenditure to ensure we are not hitting points of diminishing returns
Assess and reassign proper sales rep staffing levels by determining what the average number of sales per rep should be and then determining the budgeted number of sales per office will be for the yearLook at our customer support staffing and determine if we are meeting the needs of our clients and adjust as necessaryLook for new market opportunitiesAdjust rep sales force based on target markets once determined how many targets we will continue to go after this next year