Write an report of Markstrat simulation? At the beginning of the Markstrat simulation, we were given two items, SOFT and SOLO, in the Sonite market. The physical characteristics of the two items were already fixed. The task for us was to manage the two products in the Sonite market and come up with a marketing strategy that would help us to expand the market share and maximize the profits. The two items were different from each other based on weight, design, volume, frequency, and power. The cost of SOLO was higher than SOFT. The total market share for both brands were 28 percent in period 0.In general, our company was out of budget and almost loss all the market share at the end. There are lots of major reasons: we were underproduce at the beginning, captured the wrong coomer segments, used less budget for R&D, started the new product late etc..
The report should include:
1. major lessons personally learned from the simulation exercise. 2. it may be valuable to include a consideration of how the game is like the kind of decisions that the report writer will encounter in his or her future career, but also how the game is unlike what the writer will likely encounter in his or her future(e.g., the quality and quantity of research information available to decision makers). 3. Contain specific recommendations for how the experience of future maket simulation players might be improved. Please type at least 400 words.