Product Simulation

Quarter 1

1. What were the turning points in your play of the simulation – the MAJOR events, not a catalog of each decision made

We created a team name Spark and choose who was responsible for each job. Bought market research. We bought the market research to understand the market better for future decisions.

1. What would you have done differently if you had to do it all over again (be specific)

Nothing needed to be changed in the first quarter.

1. What were the major concepts learned about product development and management (for example, “concept evaluation is only as good as the concepts previously generated” or “ideas are easy, implementation is the tough part”)

We learned about organization with people schedules and what times can we allocate to the Simulation for class.

Quarter 2

1. What were the turning points in your play of the simulation – the MAJOR events, not a catalog of each decision made

As a group we went through the market research and chose what target segment which are workhorse and innovator because looking at the 12 month potential demand we wanted profit and these segments had the highest demand for the sales offices that we opened up which was Chicago and London.  Designed two products for Work horse “SP Arm” and Innovator “SP Shine”.

As concerned with the design of the brand for innovator and Workhorse, we looked at the Customer and needs and created the design for each segment that would fulfill the customer needs.

1. What would you have done differently if you had to do it all over again (be specific)

We would have chosen a different segment other than work horse and focused on Traveler instead.

Also, we would have brought two cities in the same continent and expanded our market each quarter.

1. What were the major concepts learned about product development and management (for example, “concept evaluation is only as good as the concepts previously generated” or “ideas are easy, implementation is the tough part”)

New product strategy and market development strategy.

Quarter 3

1. What were the turning points in your play of the simulation – the MAJOR events, not a catalog of each decision made

Finally, our products were launched in the market with a market expansion in Moscow. The pricing played an important role in this quarter. Two advertisements for each segment were created focusing on the benefits the customers would like to see in the frequency.

1. What would you have done differently if you had to do it all over again (be specific)

The fear of risk did not allow us to open new markets. However, we should’ve opened up at least 2 markets.

1. What were the major concepts learned about product development and management (for example, “concept evaluation is only as good as the concepts previously generated” or “ideas are easy, implementation is the tough part”)
2. Append a printout of your PowerPoint slides
3. Anything discussed in the presentation MUST also be clearly covered in the Board Report – the presentation should be an oral summary of the report

Quarter 4

1. What were the turning points in your play of the simulation – the MAJOR events, not a catalog of each decision made

After receiving a negative feedback from customers for the available brands, the present brands were modified and two new brands were created to capture and make a mark in the market. The current strengths were investments in the future firms, additionally to many weaknesses in the company. There was also a disappointment with the advertising and sales people in the cities.

1. What would you have done differently if you had to do it all over again (be specific)

We could’ve improved on our brands, worked on the advertising and focused more on the benefits than features. Also, the fear of losing out on money restricted us to open new sales market and hire sales people. All we did was played safe. This could’ve been changed by not playing it safe.