As a member of a team in the Marketplace Live Simulation, you will compete to be the winning team for your industry. Each industry will have 4 or 5 companies competing to be the best. You and your teammates will act as the managers for your company andapply information you have learned over the semester. Your goal is to outperform the other companies in your industry.

 

After the Marketplace Live competition is complete, your team will submit a report to the company’s board of directors. This is a group paper and is a significant portion of the grade.

 

 

Decisions for Quarter 1 – Organize Firm and Set Up Shop

 

 

The rationale for your decision does not have to be very long but should explain WHY you made the decision. What information did you base your decision on (information from BUS 101, information provided in the simulation, market research, etc.)?

 

  • Name your company:
    1. What image do you want your company to project? (Read the lecture under “Company Name” for help with what you should consider when choosing a name.)

 

  1. From the information assembled above, list at least three possible names:

 

  1. Select the best name and describe the main reason for its selection.

 

  • Marketing:
    1. What market segments is your company going to focus on?

 

  1. What is the rationale for that decision?

 

  • Decide on corporate responsibilities:
    1. For each team member, state what responsibility they will have.

 

  1. Explain how your team decided on each person’s responsibilities.

 

  • Establish corporate goals and strategic direction:
    1. What are your company’s goals and strategic direction?

 

  • Open sales office:
    1. Where will you open your first sales office?

 

  1. What is the rationale for that decision?

 

  • Build a plant:
    1. What initial fixed capacity will your plant have?

 

  1. What is the rationale for that decision?

 

 

Decisions for Quarter 2 – Go To Test Market

 

The rationale for your decision does not have to be very long but should explain WHY you made the decision. What information from last quarter’s performance did you examine? What information did you base your decision on (information from BUS 101, information provided in the simulation, market research, etc.)?

 

  1. Marketing:
    1. What price and rebate are you setting for each product?
      1. Decision:
      2. Rationale:

 

  1. In what media are you advertising & how much?
    1. Decision:
    2. Rationale:

 

  1. Did you purchase market research?
    1. Decision:
    2. Rationale:

 

  1. Sales Channel:
    1. How many total sales personnel will you hire this quarter for each sales outlet?
      1. Decision:
      2. Rationale:

 

  1. Will you open a new sales outlet for quarter 3 (optional)? If yes, where?
    1. Decision:
    2. Rationale:

 

  1. Human Resources:
    1. What annual salary will you pay your sales force?
      1. Decision:
      2. Rationale:

 

  1. Manufacturing:
    1. What do you project your demand per salesperson will be?
      1. Decision:
      2. Rationale:

 

  1. What operating capacity did you select for your plant?
    1. Decision:
    2. Rationale:

 

 

Decisions for Quarter 3 – Skillful Adjustment and Market Expansion

 

The rationale for your decision does not have to be very long but should explain WHY you made the decision. What information from last quarter’s performance did you examine? What information did you base your decision on (information from BUS 101, information provided in the simulation, market research, financial statements, etc.)?

 

  1. Marketing:
    1. What, if any, changes did you make to your current products?
      1. Decision:
      2. Rationale:

 

  1. What, if any, changes did you make to your prices and rebate?
    1. Decision:
    2. Rationale:

 

  1. What, if any, changes did you make to your ad design?
    1. Decision:
    2. Rationale:

 

  1. Sales Channel:
    1. What, if any, changes did you make in your total sales personnel?
      1. Decision:
      2. Rationale:

 

  1. Will you open a new sales outlet for quarter 4 (optional)? If yes, where?
    1. Decision:
    2. Rationale:

 

  1. Human Resources:
    1. What, if any, changes did you make in the annual salary will you pay your sales force?
      1. Decision:
      2. Rationale:

 

  1. Manufacturing:
    1. What do you project your demand per salesperson will be?
      1. Decision:
      2. Rationale:

 

  1. Did you expand your fixed capacity for next quarter?
    1. Decision:
    2. Rationale:

Decisions for Quarter 4 – Invest in the Future

 

The rationale for your decision does not have to be very long but should explain WHY you made the decision. What information from last quarter’s performance did you examine? What information did you base your decision on (information from BUS 101, information provided in the simulation, market research, financial statements, etc.)?

 

  1. Marketing:
    1. What, if any, changes did you make to your current products?
      1. Decision:
      2. Rationale:

 

  1. What, if any, changes did you make to your prices and rebate?
    1. Decision:
    2. Rationale:

 

  1. What, if any, changes did you make to your ad design?
    1. Decision:
    2. Rationale:

 

  1. Sales Channel:
    1. What, if any, changes did you make in your total sales personnel?
      1. Decision:
      2. Rationale:

 

  1. Will you open a new sales outlet for next year (optional)? If yes, where?
    1. Decision:
    2. Rationale:

 

  1. Human Resources:
    1. What, if any, changes did you make in the annual salary will you pay your sales force?
      1. Decision:
      2. Rationale:

 

  1. Manufacturing:
    1. What do you project your demand per salesperson will be?
      1. Decision:
      2. Rationale:

 

  1. Did you expand your fixed capacity for next year?
    1. Decision:
    2. Rationale:

Quarter 5 – Report to the Board of Directors

Due Date: Monday, December14, 2015 before 11:45 pm

 

This is a group paper. Only one submission per group is required. Submit your final assignment for the simulation through the two “Report to the Board of Directors” links on Blackboard.

 

In memo format, prepare a report to your company’s board of directors. The report must cover the following areas:

  • Overview of your mission and initial strategy
    • What is your company’s mission, and how was it developed?
    • What was your company’s initial strategy, and how was it developed?
  • Discussion of strategy after the second quarter
    • How has your strategy evolved?
    • How has your strategy affected your company’s performance?
    • How did you consider each of your company’s stakeholders (including your employees) when developing and updating your strategy?
    • What are your plans for the future?
  • Performance to date
    • Financial:
      • Discuss your company’s financial performance and provide at least three specific measures of performance with supporting analysis.
    • Marketing:
      • Discuss your target market(s) and the marketing mix that you chose.
      • Explain how effective your choices were.
    • Assessment of the strengths and weaknesses of your company as well as the opportunities and threats in the industry.
      • Prepare a table that identifies the strengths, weaknesses, opportunities, and threats.
      • Discuss your company’s major strengths and weaknesses, as well as the major opportunities and strengths in the industry.

 

Tips:

  • Refer to Purdue Owl for appropriate memo format: http://owl.english.purdue.edu/owl/resource/590/1/.
  • You should use headings to identify the different sections of the paper. Make use of the “Headings” feature in Word. It will help with a consistent look.
  • Data (numbers) are often better presented through tables and/or graphs.
    • If you include tables, use the “Table” feature in Word. Tablesshould have a number and title, for example,Table 1: Financial Performance Measures.
    • Some graphs are available in Marketplace Live and can be included if appropriate. Alternatively, you can create graphs in Excel and copy them into your Word document. Graphs should also have a number and title(for example, Figure 1: Change in Net Income).
    • You should discuss any tables or graphs that are included in the document. Just providing the table or graph is not sufficient. You need to demonstrate that you understand what the data is telling you.
  • Including your mission statement may be beneficial when discussing your strategy.

 

Your team memo must not exceed 5 pages in length with 1-inch marginsand normal-sizedfont (Times Roman, 12-point, for example). You may not use smaller margins or fonts in order to fit your memo into five pages.

 

 

GRADING FOR TEAM REPORT TO BOARD OF DIRECTORS

[56 points possible]

 Not CompletedDoes not meet expectationsMeets expectationsExceeds expectations
Overview of mission and initial strategy

(7 points)

No overview of the mission and initial strategy were provided.

(0 points)

·   The company either failed to provide its mission or explain its initial strategy.

OR

·   The company did not explain how the mission and/or initial strategy were developed.

(3 or 4 points)

The company provided its mission, discussed what its strategy was at the beginning, and superficially explained how they were developed.

(5 or 6 points)

The companyprovided its mission, discussed what its strategy was at the beginning, and thoroughly explained how they were developed.

(7 points)

Discussion of strategy after the second quarter

(7 points)

No discussion of changes in strategy was provided.

(0 points)

The company provided incomplete or incorrect discussions the required points (strategy evolution, future strategy, relation to stakeholders, and relation to performance), and/or failed to address at least one of the points.

(3 or 4 points)

The company covered the required points (strategy evolution, future strategy, relation to stakeholders, and relation to performance), but the discussion of one or two of those points was incomplete or incorrect.

(5 or 6 points)

The company thoroughly explained how its strategy evolved and what it is going forward. The company correctly relatedits strategy to all of its stakeholders and its performance in MPL.

(7 points)

Overview of financial performance

(9 points)

No financial overview was provided.

(0 points)

The company provided one financial measure with correct analysis or multiple measures with no discussion.

(5 or 6 points)

The company provided multiple financial measures with some errors in analysis.

(7 or 8 points)

The company provided multiple relevant financial measures with and correct analysis.

(9 points)

Overview of marketing performance

(9 points)

No marketing overview was provided.

(0 points)

The company discussed its marketing performance, but it did not discuss target market(s) and/or did not discuss some elements of the marketing mix.

(5 or 6 points)

 

The company discussed its marketing performance with some discussion of target market(s) and marketing mix.

(7 or 8 points)

 

The company discussed its marketing performance effectively, including target market(s) and all elements of the marketing mix.

(9 points)

SWOT analysis

(9 points)

No SWOT analysis was provided.

(0 points)

·   The company identified items in all four areas with multiple errors/omissions.

OR

·   The discussions of the areas were superficial.

 (5 or 6 points)

·   The company identified items in all four areas with one or two errors/ omissions.

OR

·   The discussion of one or two areas was superficial.

 (7 or 8 points)

The company correctly identified items in all four areas and discussed indetaileach of the different areas.

(9 points)

Effective use of tables and/or graphs

(5 points)

No tables or graphs were provided.

(0 points)

The company presented data in tables/graphs, but provided no discussion of the information or incorrect discussions.

(2 or 3 points)

The company presented data in tables/graphs. However, there were formatting errors or errors in the discussion.

(4 points)

The company presented data effectively in tables/graphs with appropriate titles and discussion.

(5 points)

Organization and tone

(5 points)

No headings were used and tone was inappropriate.

(0 points)

 

The company used headings sporadically, or headings were not easily identifiable. Much of the memo’s tone was inappropriate.

(2 or 3 points)

The company used headings throughout but the information under headingswas not always relevant. There were some lapses in appropriate tone.

(4 points)

The company effectively and appropriately organized the document using headings. The tone was appropriate for the intended audience.

(5 points)

Grammar/spelling

(5 points)

The report had more than 5 errors that significantly affected readability.

(0 points)

The report had 3 – 5 grammatical or spelling errors and was hard to follow in some areas.

(2 or 3 points)

The report had 1 or 2 errors and was generally easy to follow. The writing did not detract from content.

(4 points)

There were no errors. The writing added to the content by allowing reader to follow the information easily.

(5 points)

GRADING FOR TEAMWORK

[14 points possible]

 Not CompletedDoes not meet expectationsMeets expectationsExceeds expectations 
0%50%75%100%
Teamwork

(14 points)

CATME Adjustment Factor of 0.69 or lower or did not complete the CATME surveyCATME Adjustment Factor of 0.70 – 0.89CATME Adjustment Factor of 0.90 – 0.99CATME Adjustment Factor of 1.00 or higher