MarkStrat

With marketing as my concentration, I take more of a vested interest in the projects and topics we go over in class. MarkStrat is our big project this semester. It is similar to our BSG simulation last semester, but this time around I have more of an idea what to do and how to achieve our goals.

Our class was split into 2 Industries: Wolf and Pack. We are Team I in the Wolf Industry, so we are competing again 4 other teams. Each team started out with two products in the Sonite market, all of varying market shares and profitability. The Vodite market is completely new, and there was no information on any of the segments involved. By sheer bad luck, we ended up with the two worst products in the entire game. I took this as an opportunity to use the targeting/positioning skills we learned the first few weeks of class and to prove that we could turn these awful products around.

We also are able to introduce new products into both markets as well as update current products. The first period we were not able to do any updates or new product introductions so naturally we ended up in last place after the first decision. We changed around our cost allocations with our research, production, advertising and sales force and after the 2nd decision we moved up to 4th place. In the third period we introduced 1 updated Sonite product and a brand new Vodite product. After these decisions were finalized, we moved into 3rd place.

Today we just entered our period 4 decisions, and we are anxiously awaiting the results. We introduced our second updated Sonite product and are hoping the new specifications hit our targeted segment directly. We also had to develop a Marketing Plan based on our decisions thus far, and our goals and plans for the second half of the game.

At the half way point, we currently have 2 products in the Sonite market and 1 in the Vodite market. I can't give away any secrets for our future plans, but we are hoping to make a big impression in both markets!