Harvard Marketing Simulation Answers

The simulation also illustrates the benefits of investment in market research. Ideal for core marketing 101 courses (as a Capstone session) or in the introductory module of an advanced marketing strategy course. This simulation can be used in advanced undergraduate, MBA. L grasp the basic elements of a marketing strategy and plan l create a marketing orientation in your group or firm l understand and navigate the steps in the marketing process l plan effective marketing programs, advertising campaigns, and sales promotions € Topic Outline What Is Marketing? Earthing design software free download. Defining a Marketing Orientation Developing a Marketing Orientation.

Momentum, a large, national sporting goods store, offers competitive prices and quality merchandise. For years, these qualities have earned them a top-notch reputation and secured their title as industry leaders. In recent years, however, quality and affordability do not seem to be enough to attract customers, as the chain has experienced a steady decline in revenue. Market analysts believe that the decline is due to a shift in the shopping experience that customers desire. The analysts claim that consumers no longer want to simply see products on shelves, they want to experience them.

Which of the following, if true, supports the analysts' claims? The decline in revenue was measured during a particularly grueling economic period marked by an unprecedented unemployment rate. Most small, locally-owned sporting goods stores feature demonstration clinics and product rentals to build confidence in their products. A national competitor has recently installed practice areas for some of their sporting equipment and increased its profits by 15% in four months. A national pizza chain has begun offering monthly 'taste clinics' to examine and evaluate public response and feedback to its products.

Customer surveys indicate that many Momentum stores detract customers with poor customer service and grimy, unorganized facilities. Momentum, a large, national sporting goods store, offers competitive prices and quality merchandise. For years, these qualities have earned them a top-notch reputation and secured their title as industry leaders.

In recent years, however, quality and affordability do not seem to be enough to attract customers, as the chain has experienced a steady decline in revenue. Market analysts believe that the decline is due to a shift in the shopping experience that customers desire.

The analysts claim that consumers no longer want to simply see products on shelves, they want to experience them. Which of the following, if true, weakens the analysts' claims? Most apparel retailers offer fitting rooms where customers can try on clothes for look, feel, and fit before purchasing. Momentum customers report that they prefer one brand of tennis racket over another due to both cost and quality. A survey of sports enthusiasts reports that customers are 50% more likely to make a purchase if they are first able to test the product. Companies that offer the ability to try on or try out apparel or equipment have 30% higher sales than companies that do not offer this option.