Project - GoVenture Game- Micro Business: Popcorn and Snacks Cart
This project provides an opportunity to learn the fundamentals of running a small business and apply the principles of the course in a fun game format. In your business, you will make critical decisions on a daily basis. Per the syllabus requirements, you will purchase a subscription key to the game. Read these guidelines thoroughly before beginning the game.
Performance Report Analysis Assignment -
I. Marketing
A. What is the process of dividing a market into groups with similar characteristics?
B. What is the most widely used marketing segmentation?
C. Why is target marketing important?
II. Pricing
A. How did you decide on what prices to offer for your products?
B. What pricing objective did you use? How does the textbook describe this pricing objective?
C. Provide the 5 different examples of pricing objectives from the textbook?
III. Financial & Accounting Information
A. What is the purpose of the balance sheet?
B. How does this relate to the fundamental accounting equation?
C. What is the purpose of the Income Statement?
D. What is the difference between gross profit and Net Income?
E. What is meant by the term "bottom line" with reference to income statement?
IV. Micro Business Performance Report
Analyze the performance report to describe the ending results of your activities over the past several "virtual" days. Answer the following questions:
A. What was your Net Profit/loss Before Taxes (take this from the performance report)?
B. From the daily recap on the bottom of the performance report, is business improving, declining or was there mixed results-explain?
C. What were some of the adjustments that you made that improved your outcome and why did those adjustments work? Be specific.
D. What were some of the adjustments that you made that worsened your outcome) and why did those adjustments not work? Be specific.
E. Did you gain any insights from this simulation?
Attachment:- Assignment Files.rar