Grand Canyon MKT450 Week 2 CLC – Market Simulator – Quarter 2 Latest 2015 October

QUESTION

This is a Collaborative Learning Community (CLC) assignment.At this point you have a project team in place, the overall project goal is clear, and you are familiar with the Marketplace simulation environment. In this section you will identify a product or service that your company will market. Your team will become familiar with the market for your product and devise the most appropriate marketing strategy. As described in the simulation, the efficiency of your marketing strategy (in Quarter 3) depends on identifying the factors that directly affect the products success, the relevance of the product to your chosen market(s), and your correct assessment of your goals. Once you are confident the above objectives have been met, proceed with the first step toward meeting the company goals.Specifically, refer the Quarter 2 Simulation Section: Evaluate Market Opportunities, Setup Operations, and Prepare for Test Market.Analyze market opportunities — evaluate segments, geographic markets, and potential competition.Establish corporate goals and strategic direction. Address the following:Specify and rank order corporate goals.Write mission statement.Select target segments.Establish strategic direction.Create customer value — design initial brands for test market.Match components to benefits desired (Quality Function Deployment [QFD]).Select test markets — setup sales offices.You are not required to submit this assignment to Turnitin.

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