NEXT STEPS:

Your "Final" in this class will be an 8 Turn Simulation which will be run just like the Marketing Simulation - Tutorial assignment... however, you will have to make ALL of your initial strategic decisions (target market, product, price, placement/distribution in retailers and promotion) in one turn before ending the turn. Once you have ended your turn, you will review results, analyze your competition, make strategic changes and end the turn 7 more times, giving you 8 turns (or quarters) worth of sales data.

Focusing on the crucial marketing decisions that you will have to make in the first turn of the Marketing Simulation - Final assignment in Connect - and drawing on what you learned in the Mini-Sims throughout the semester and the Marketing Simulation - Tutorial assignment - please answer the following about your strategic marketing plan for that assignment:

1. Who do you intend to choose as your target market in Turn 1 of the Marketing Simulation - Final assignment (below are the options)? Why? Remember that your decisions should be based on data like market size, market growth, the average price paid compared to the cost to produce a good product, etc.
2. What do you think is a "good" amount to spend on advertising in Turn 1? Remember that while you have $10,000 in the bank to start, that's not your advertising budget. As mentioned above, consider your average margin, sales potential, etc.
3. What other elements of the 4 Ps of marketing (product, price, place, and promotion) do you need to worry about and pay attention to in Turn 1? Why?