Simulation Report #$3(10\%)$

Purpose of the Assignment and Learning Outcomes

This assignment will allow the group to reflect on the new product launch in the

Music$2$Go online simulation. The following course learning outcomes for the

assignment:

$$ Explain the customer relationship management process.

$$ Assess the elements within the marketing mix $(4$ Ps: product, price,

promotion, and place$)$

$$ Create a marketing plan.

Guidelines $-$ New Product Launch Review Report

You are required to review the performance of your Music$2$Go New Product Launch

from the last decision period $($year$)$ and the predictions from your New Product Launch

Report. Include excerpts from Music$2$Go reports to support your analysis where

appropriate.

For this assignment, you are required to cover the following points:

$1.$ Look at your Product Contribution reports under the Product Management menu.

How many units of your new headphones did you sell? Did you obtain your Sales

Forecast objective from your New Product Launch Report? $(5$ marks$)$

$2.$ Review your Closing Inventory for the new product $($see Product Management

Reports Overview report under the Product Management menu$).$ Will this have a

significant effect on your decisions going forward? $(5$ marks$)$

$3.$ What was the Product Contribution for your new product $($see Product

Contribution report under the Product Management menu$)?$ How did this affect

your overall Marketing Contribution? $(5$ marks$)$

$4.$ Explain your sales results. What happened in terms of competition in your market

segment? $(5$ marks$)$

$5.$ Did your product launch go to plan? Why or why not? $(5$ marks$)$

$6.$ Explain whether or not $($and why$)$ your Pricing Strategy for your new headphones

was successful. How did competitor prices impact your success? $(5$ marks$)$

$7.$ If you could go back and change any aspect of this new product introduction

$($including your choice of the target market$),$ what would you change and why? $(5$

marks$)$

$8.$ What $($if anything$)$ will you change about your product strategy going forward? $(5$

marks$)$