This article will guide you through the steps of viewing your "Design the Line Extension" results in the Marketing Management Simternship.
How to navigate to your results, which you can access at any time while within the Marketing Management Simternship:
- Click the RESULTS tab under the Marketing Management Simternship title
- Choose which round’s results you would like to view
- Once selected, the results page will appear
You will be rated based on how well you achieved the goals of the round. You will receive a red, orange, yellow or green rating, which will be shown on a rating “wheel”. You will see this for the design, price selection, customer segmentation, distribution channels, and budget allocation sections. These colors are interpreted as follows:
-Red requires a lot of improvement
-Orange requires more improvement
-Yellow requires less improvement
-Green requires little to no improvement.
NOTE: Ensure you are using your RESOURCES tab, along with the provided "Customer Purchase Data", "Expense Report", and "Historical Budget Data" when completing these rounds.
In Your Results
Section 1: Product Design
The first portion you will view is your Product Design results. Here you will see your rating wheel along with the bag you have designed. Below the bag, you will see the components you have selected to accompany your design. Below, you will see that we received a yellow rating. This indicates our design was good, but there were better options that we could have chosen.
Tip: Read customer reviews to see where your design could be improved.
Section 2: Price Selection
Results for Price Selection will read similar to the Design portion.
Here we can see our pricing was a poor choice. By reading the feedback, we learn that it may be important to read the reports you have been provided with in regards to pricing. Always read the written feedback as it should point you in the direction you need to go to improve your results in the next round. We can also see our total revenue and profit percentage were well below our goals.
Section 3: Target Customer Segment Selection
Follow the directions carefully for the Customer Segment section. You will be relying on the "Customer Purchase Data" and the expense report for making your calculations.
Here, we can see an orange rating, meaning our calculations were poor and we should have read our reports more carefully to determine the correct calculations. We can see, however, that we did manage to match our target profit percentage.
Section 4: Distribution Channel Selections
Your Distribution Channel Selections portion will read similarly to the previous sections.
In this example, we received a yellow rating. Our channel selections were good but there were better options. We can see we failed to meet our target revenue goals. You will also see the units sold, revenue, and margin for each channel you selected. Use your Resources tab, along with the various customer reports, to choose the best channels for distribution.
The last segment of your results will be the budget allocation. You will still have the rating wheel, and you will also see your total and target revenue, along with the metrics achieved for each item you allocated budget towards.
Here you will see we received a green score, and our feedback lets us know we made good choices. Seeing how our growth went down in two areas, we had a large upswing in the premium line. There may have been better choices for allocation towards the Hip Pack and Soft-T's, but we easily exceeded the revenue goal. This results in a green score for this section.
There is a lot to dissect and interpret from the data in these results. Use the data and suggestions to improve your results round by round!
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