Music2go simulation results
What was your Original Base Marketing Budget Limit last year and how much was not spent? (Hint: see the Budgeted Expenditure Report).
What was your Sales Revenue, Gross Margin and Marketing Contribution last year? (Hint: see the Industry Benchmark Report).Complete a short analysis of your company by answering the short answer questions below:.Your answer should be half a page in length.
MUSIC2GO SIMULATION RESULTS MANUAL
Using the information provided in Chapter 2 of the Music2Go Player’s Manual write a brief description of the three market segments in the Music2Go MP3 Player Market.To complete this written assignment you will need to have open the Music2Go Player’s Manual and be logged into your Music2Go company (log in through the Smartsims website). Part A should be two-three pages in length. To understand the simulation and achieve the highest TMC you can, you must first conduct a Situation Analysis. Once students are familiar with the simulation format, they develop strategy and make key decisions for their organization as they compete against other student-run companies.įor further information on strategy simulation, business simulators and business simulation games please go to. Smartsims have a variety of simulations, each tailored for a particular course and level, and every simulation includes a practice and competitive application. Through market reports students will develop an understanding of consumers, competitors and their own company in order to make both marketing strategy and marketing mix decisions. This marketing simulation provides your students with realistic consumer segments featuring unique media preferences, shopping behaviors and product attributes which vary over the simulation. Music2Go Marketing has been used at institutions such as The Wharton School, and has been integrated and bundled with marketing textbooks by Cengage Learning, McGraw-Hill and Nelson Education, providing a platform for instructors to explain and illustrate the core marketing terms and concepts. Through market reports students will develop an understating of consumers, competitors and their own company in order to make both marketing strategy and marketing mix decisions. The competitive nature of the simulation motivates students to understand concepts at a deeper level. This empowers them to take responsibility over their own learning and become personally engaged with the content. The benefit of simulation-based learning is that we learn best by doing, and Smartsims’ objective is to give students their own business experience. As they move forward they are given control over Sales Promotion, Product Development, and the opportunity to launch new products. Students initially have responsibility over Price, Retail Margin, Sales Forecast, and Advertising decisions for a single product. Music2Go Marketing provides a platform for instructors to explain and illustrate the core marketing terms and concepts, and concepts are introduced as the simulation progresses.