Detailed Report based McGraw Hill marketing Simulation game

I need  an edit and a more detailed report based on the McGraw Hill marketing Simulation game. You need to have knowledge of this game to do this.I have attached a template called “initial game”, the actual document that needs to be edited and made in the format of the template is called MKTG 2150 Final Project.

The assignment instructions are posted at MKTG2150 Group project – we only need to complete part 1.

MKTG 2150 Final Project – Marketing Practice Simulation (we know the name is terrible)

Winter 2018 – 25% of final grade

In teams of 3-4 we will play the McGraw Hill Marketing Practice Simulation that was included with your book purchase. There are many benefits to using a simulation including:

· the ability to learn through performing an action in to get to a certain outcome,

· the improved retention of knowledge and its applications with experience of integrating the concepts learned in class and applying them in a strategically consistent manner,

· the benefit of consistent, constant, and immediate feedback,

· It is really fun!

There are three elements to your completion of this project:

1. 2 page document outlining your team’s original strategy and the reasoning behind your decisions, this is worth 15 points. To complete this it is important to read the guides and play the tutorial games provided to you.

2. Playing the simulation for at least 15 rounds this represents 10 points dependent on your placing. The ultimate goal is to make the most money.

3. Final Presentation where you will create the promotional campaign for your product and provide an overview of your final position. This is worth 75 points of your final grade.

Part 1

The document outlining your initial strategy for the simulation will include the following:

(Hint: approx. 1 paragraph for each point)

· Introduction and conclusion

· Discussion of each strategic decision including:

· Segment chosen and why

· Product features and how they meet the needs of the segment

· Pricing strategy, actual price and margin

· Distribution decisions with reasoning

· Communications decisions both message and media

· Approximately 2 pages, organized, edited, single spaced, 12 point font, stapled with a cover page with first and last names of all contributing group members.

This document is due at the beginning of class on the day we start the game. It is essentially your first set of decisions so it is important that everyone on the team agrees. You will have opportunity to practice before the simulation begins!

Part 2

Game on! We will play about 15 rounds as per the class schedule. The top team based on the Total Net Profit over the course of the game. Top team gets 10, second team 9 and so on. Everyone in the group must be in class on the days that we are playing the game.

Missing class and not supporting your team will result in a reduced grade of 10% per occurrence, this includes game and project preparation classes.

Part 3

This is where we put together all that we have learned and apply the concepts learned during the course and simulation. A 10 minute presentation will be created and practiced that illustrates your final results from the simulation and your creative department’s work on creating an effective promotional campaign. Your group will create an integrated marketing communication strategy, decide upon the elements required (see text), develop an appeal, and design and produce the creative elements (actual ads, social media, public relations, sponsorship, sales promotions and direct pieces). It is important that you make clear the goals of your plan and explain how success will be measured.

The format of the presentation will be:

· Created for an audience of Marketing Managers who you wish to approve the launching of your IMC plan.

· 10 minutes + questions

· Evidence of IMC – ALL strategies consistent and relate to overall plan

· 15-20 slides created in PP, Google slides, Prezi or any format that you would like.

· Slides will be primarily images with very few words

· Presentation will be practiced and professional

· Presenters will be dressed in business attire as discussed in class or appropriate costumes

· Presentations will be interesting and awesome

· Bonus marks for those judged the most awesome by their peers (1st place – 5 marks, 2nd place – 3 marks, 3rd place – 1 mark)

· Will include the information and elements outlined below – these are guidelines

Suggested Slides and Content of Presentation:

Introduction

Game summary and key learning from simulation

Target market

Objective/Overall Appeal

Packaging – sample or visual of tag

Advertising strategy – visual sample of actual ad, where, why and timing (Be specific)

Direct Marketing – Social Media plan – visual, where, why, how do you get consumers engaged, timing

Public Relations strategy – what, where, when

Event Sponsorship – what, where, when

Sales Promotion – visual, offer, where, timing

Website mock-up

Schedule of timing in table format

Conclusion

References

All students are required to be present for all presentations to act as judges and support their peers. Failure to hand in an individual voting form at the end of presentations will result in an individual reduced grade on the project.

MKTG 2150 Final Project Presentation

Group name: ____________________________________________________________________

Content (Steak)	Score	Comments
· Game Overview & Decisions · Final Decisions	1 2 3 4 5 6 7 8 9 10
Integrated Marketing Communication Campaign · Clear description of target market · Campaign clearly described and justified including appeal and creative themes · Creation and use of consistent brand identity · Packaging – eg or visual of tag · Advertising strategy – visual sample of actual ad, where, why and timing · Direct Marketing Social Media plan – visual, where, why, how do you get consumers engaged, timing · Public Relations strategy – what, where, when · Event Sponsorship – what, where, when · Sales Promotion – visual, offer, where, timing · Website mockup	1 2 3 4 5 1 2 3 4 5 1 2 3 4 5 1 2 3 4 5 1 2 3 4 5 1 2 3 4 5 1 2 3 4 5 1 2 3 4 5 1 2 3 4 5 1 2 3 4 5
Media Plan and schedule · Media chosen consistent with campaign and audience · schedule justified	1 2 3 4 5 1 2 3 4 5
References	1 2 3 4 5
Communication and Persuasion
Introduction captures attention and manages expectations	1 2 3 4 5
Timed perfectly using format · 10 minutes and 20 slides	1 2 3 4 5
Stunning, persuasive visuals- Slides	1 2 3 4 5
Effective Platform Skills -obviously well-rehearsed	1 2 3 4 5
Conclusion – Ends on a high, persuasive note	1 2 3 4 5
Total	/100

Carry-On

Initial game strategy

Tiffany C., Azeem S., Dillon H.

MKTG 2150-005

Mount Royal University

Introduction and segment chosen

Carry on is an outdoor backpack company with great features at a competitive price. We have devoted our company to construct backpacks for outdoor enthusiasts as they have a deep and lifelong commitment and investment to the outdoors that is not just a casual interest, but a lifestyle.We believe that people will put their money where their passion is. In to create an ideal backpack for our target market, we needed to understand the demographic segment of these consumers. Statistically, about 30% outdoor enthusiast have a household income of $100,000+ and about 33% of them are 45+ years old. About 70% are Caucasian and 26% are College Graduates (Outdoor Foundation, 2014, p.10). Also, 54% of outdoor participants are male (Outdoor Foundation, 2014, p. 7). We kept this in mind as our backpack had to be created for potential consumers with both the willingness and ability to buy.

Product Features

We’ve adopted the Large rectangular backpack as it has a quite a large capacity and helps create enough comfort for the outdoor enthusiast. We’ve chosen the Wide-padded because it creates enough durability and comfort for the outdoor enthusiast, and provides a more cost-effective approach than Wide + Chest or the Advanced support straps. Outdoor enthusiasts are more concerned with the capacity and water proof of the backpack, rather than comfort and durability. We’ve added features such as a water bottle holder to allow the traveller to grab water at their convenience, waterproof material to help protect the backpack from weather related issues. We avoided a GPS tracker in our backpack because it is too costly for our price. We chose advanced material as the material for our backpack which offers excellent durability with its synthetic coating and also provides enhanced waterproofing. As for color, we chose green to promote and relate to the outdoor enthusiast. The green color provides camouflage and symbolises the outdoors.

Pricing strategy

The total production cost of Carry-on’s backpack will be $45. This is very efficient in comparison with the demands of an outdoor enthusiast. Everything is provided, and we save production costs by avoiding extra benefits such as a GPS system and advanced support straps. We have decided to price our backpack at $96 as the average an outdoor enthusiasts spends is $90 on a backpack. This provides a $51 margin per unit cost.

Distribution decisions

We decided to distribute our backpacks directly, with a $5 discount due to %0 distributer cut. We also decided to distribute a High End Outdoor store, similarly giving a $5 discount. Distributing at High End Outdoor Stores with a $5 discount can be efficient as it promotes purchases in the most customer reaching area, and only takes a %28 distributor cut. We will also distribute through Department stores and Online Discount Retailers to spread the likeliness of customers discovering and purchasing our backpacks. We will not offer a discount in Department stores and Online Discount Retailers as they take a larger distributer cut.

Communications decisions

For promotions, we chose to advertise in TV: Wilderness Cable Network, and Radio: Sports Talk Radio with a communicating message of Peak performance. This message reaches about %66 of our outdoor commuters demographically, and also %33 of commuters. This message can be very effective in raising interest and awareness of our backpack. Although expensive, approximately $3000 per quarter, we chose to advertise in TV: Wilderness Cable Network to reach out to around %55 of our demographics. We will begin by advertising twice in 30 second spots, and slowly increasing our advertising to raise more awareness of our backpack. We have also decided for the first few quarters to advertise also in Radio: Sports Talk Radio. With an advertising price of $1000, this will allow us to reach our demographic in a more cost effective manner. We will eventually cut advertising completely to maximize profit, as much of our demographic will be reached.

Conclusion

In summary, we believe this initial marketing strategy will create the largest profit for Carry on. This profit will come through a cost effective backpack, a reasonable and competitive price for the outdoor enthusiasts, effective distributors with discounts in more profitable distributions, and cost efficiently reaching outdoor enthusiasts through a message of peak performance in television and radio.

References

The Outdoor Foundation. (2014). Outdoor participation report. Retrieved on November

14, 2015 from http://www.outdoorfoundation.org/pdf/ResearchParticipation2014.pdf