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MARKETING SIMULATION- MANAGING SEGMENTS AND CUSTOMERS V2

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MARKETING SIMULATION- MANAGING SEGMENTS AND CUSTOMERS V2

 

  1. Target Customers

Based on the simulation findings, Minnesota Micromotors (MM) target customers are divided between large and small customer segments. Based on quarterly revenue, the main target customers are the large customer segment with $4,107,147 followed by small customer segment with $1,281,206. The simulation indicated that approximately 68.81% of the company’s revenues were generated from customers that placed large- volume orders while 31.19% was generated from customers placing small orders from distributors. Customers placing large orders were divided into four segments based on price sensitivity. This may be so because the company deals with hospital products which are mainly purchased by institutions in large quantities. Additionally, the main focus is on large segment customers because they purchase in large quantities thus reducing the cost of distribution. Further, Camilleria (2018) argued that no business can satisfy all customers because it may be difficult to meet the expectations of all customers. However, any business should select a target market for its focus and provide it with the quality services to increase their satisfaction levels. This is the case for MM large segment customers.

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MARKETING SIMULATION- MANAGING SEGMENTS AND CUSTOMERS V2

Assignment 1 – report

  • Reflective report
  • 2,500 words total including references and appendix
  • Structure
  • Report your relevant decisions and results
  • Provide a critical analysis of your actions
  • Describe what you learn from this simulation

Report guidelines

You should follow a structured approach for your reflective report.

  1. Report your relevant decisions and results
  2. Provide a critical analysis of your actions (relate and reasoning)
  3. Describe what you learned from the simulation (reconstruct)

You should address the following the following topics in your report:

  • Who are MM’S target customers? Are all segments equally attractive to MM? If yes, why? If not, why not? How do the different segments’ need and expectations evolve over time? Why?
  • How does customer satisfactions change over time? How do you balance hard performance metrics such as revenue and profits with soft metrics such as customer satisfaction?
  • What does a focus on customer satisfaction illuminate obscure in your marketing strategy? How does customer satisfaction relate to customer loyalty?
  • How do you expect MM” s competition to respond to changes you make in MM’s marketing and sales efforts? Why?
  • How do you manage MM’s pricing? What does it take to justify prices increases? How does pricing discounting affect the outcome?
  • How do investments in marketing research affect your management of MM?
  • How does channel conflict figure into your pricing decisions? How do you minimize channel conflict?..………. MARKETING SIMULATION- MANAGING SEGMENTS AND CUSTOMERS V2……

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