Market segment(s)

      Step 1: • Maven Solo Exam Play will open up for you during the allotted timeframe. You have 5 days in which to complete 4 quarters of operating your own Maven company. You will process 4 quarters of simulated business activity making appropriate changes to your pricing, product, promotions and distribution (Place). You are competing against 7 other computer generated companies. In Maven Solo, your company is Company #1. • Although not required, you may wish to set aside a block of time to complete your 4 decisions in one session. You will want to review and analyze your quarterly results and make changes to your decisions for subsequent quarters to meet your objectives. Your success in completing this effort is highly dependent upon how much time you spent prior to this learning the simulation and practicing your skills in Maven Solo Practice. • Maven Solo Exam Play works the same as Maven Solo Practice with two very important distinctions: o In Maven Solo Exam Play, you cannot start over. All decisions are final once you have processed a quarter. o In Maven Solo Exam Play, your instructor can see your results. Do NOT complete this requirement in Maven Solo Practice. In Maven Practice, your professor has no access to your results and therefore no ability to fairly grade you on your reflection that you submit to FOL. Any student who does not complete inside of Maven SOLO Exam will receive a grade of zero. No exceptions. • Step 2: Each student will reflect on his/her results and complete the assignment by answering the following questions. Part A – Answer the questions in Part A for both products in all 3 regions. If you used the same processes/variables with more than one product or region, note the duplication rather than repeating your answer. 1. Which market segment(s) did you select as your main targets? How have you aligned your products (P1 and P2) to address the needs of these segments? 2. Considering Ansoff's Growth Matrix, what strategy did you choose for Product 1? Product 2? Why? 3. For Quarter 4, review the sales revenue and cost information in your income statement. Is your Gross Profit covering your selling and administration, inventory carrying, and interest costs? Do you think your Selling and Administrative Costs are high/low/good? Do you think your Carrying costs are high/low/good? Discuss this. You may want to go back to previous quarters to see if these costs are getting higher or lower over time. Are there differences in costs and profitability between Product 1 and Product 2? Which product is doing better? Suggest why that might be. (Consider the Product Lifecycle and the sales efficiency curve from the Maven Participant Manual.) Part B – Answer the questions in Part B based on your results for Product 1 and Product 2 in Region 1 only. Create a section answering each question for Product 1 in Region 1 only and then create another section answering each question for Product 2 in Region 1 only. 1. Describe how the marketing tactics you selected (price, promotion, sales force, and product improvements) were meant to support your strategies stated in Part A above. 2. Describe how you used your market research to help you differentiate and position your products as the game progressed. 3. Explain how the advertising tactics and salespeople you selected represent a push strategy, a pull strategy, or a combination push-pull strategy. (Refer to Maven Participant Manual for info on Push/Pull) Part C – Answer the questions in Part C based on your results for Product 1 in Region 1 in Quarter 4. 1. Describe how you determined your forecasted sales. Were you successful at managing your inventory? 2. Do you think your Product 1 was priced appropriately in Region 1? Why? – Be specific. 3. Are your sales for this product/region going up? Down? Why? 4. Based on the Product Perception Charts provided in the Maven interface, for Product 1 – Region 1 in Quarter 4, how would you change your marketing support to improve positioning? Part D - Answer the questions in Part D based on your overall experience with Maven Solo Exam 1. What would you do differently if you could start over again? Grading Criteria Your instructor will assess your submission and you will receive a grade based on the criteria below. This is a wholistic rubric designed to assess your formative learning and reflection in this assignment. Your professor will provide feedback. Concerns (areas for improvement) Criteria Performance Standards Advanced (exceeds standards) Accurately reflects course content and Maven business environment. Thoroughly answers all questions Logically applies marketing management concepts Decisions/choices are consistent with stated positioning Accurately calculates financial performance Thoughtfully reflects on ways to improve performance