MKT450 Arizona State Electronic Sensor Industry CapSim Simulation Report

User Generated

ZX95

Writing

MKT450

Arizona State University

Description

Page One:

  • Search online to find comprehensive information about the US Electronic Sensor Business.
  • Write a one page summary of the actual US Electronic Sensor Industry. This should be a general overview of the industry to demonstrate that you have a fundamental understanding of the industry.

Page Two:

  • Use the CapSim slides as a source for page two of this assignment to complete the following tasks:
    • Write one paragraph with a brief summary of how your company came to exist.
    • List the five Customer Segments that exist in CapSim.
    • List the four Buying Criteria that your customers use to make purchase decisions.
    • Explain what DRIFT is and how you will address it in Capsim.

CapSim Power point slides are uploaded. I also uploaded the rubric for this paper.

Unformatted Attachment Preview

WHY SIMULATE? ❯ Risk free! ❯ Compressed time to view long-term outcomes ❯ View alternate strategies ❯ Selectivity vs. Integration ❯ Enjoyable and competitive! 1 ©2014 Capsim Management Simulations, Inc. OBJECTIVES OF THE CAPSTONE® SIMULATION  Demonstrate effectiveness of multi-discipline teams working together.  Use strategic thinking.  Take away practical skills in business management.  Test your business acumen.  Understand overall interaction and impact of various parts of a business on one another.  Grow the awareness of competition. 2 ©2014 Capsim Management Simulations, Inc. INDUSTRY OVERVIEW ©2014 Capsim Management Simulations, Inc. THE SENSOR INDUSTRY  You are a B2B Manufacturer  Sensors are component parts of finished goods  Cell Phone Example:  Touch Screen, Spatial Orientation, Signal Strength 4 ©2014 Capsim Management Simulations, Inc. THE STORY: BACKGROUND ON YOUR COMPANY Started as a single corporation named Sensors, Inc. sold sensors as main product. Corporation forced to break apart by FTC due to monopolistic operations Sensors, Inc. FTC required Sensors, Inc. to be broken up into separate companies: Andrews Baldwin Chester Digby Erie Ferris YOUR JOB  Monopoly left the products, marketing, manufacturing and financial management in poor shape due to lack of competition ➢ Operate one of the companies and make it successful ©2014 Capsim Management Simulations, Inc. 5 THE START When Sensor, Inc. breaks up, each of the new companies start off with the following scenario:  $100 million in Sales  5 Product Lines (can add up to 3 new ones)  5 Market Segments  Closed Marketplace 6 ©2014 Capsim Management Simulations, Inc. SENSORS: AN OVERVIEW OF YOUR COMPANY’S PRODUCT  Customers (OEMs) need sensors for their products to function.  Used for diverse applications Customer demands vary between the five segments Five market segments:  Low End  Traditional  High End  Performance  Size  Buying Criteria Price, Age, MTBF (Reliability), Positionaing (size and performance) 7 ©2014 Capsim Management Simulations, Inc. THE MARKETPLACE: A LOOK INTO THE SEGMENTS  Perceptual map used to track changing consumer demands in size and performance. Consumer segment expectations ROUND 1  Each year, consumers will expect faster (higher performance) and smaller products (smaller size) • This causes the segment circles to drift to the lower right constantly  Market segments continue to diverge over time. ROUND 8 Note the drift towards the lower right (expectations of faster and smaller products) Also note the divergence of the segments. 8 ©2014 Capsim Management Simulations, Inc. LOW END CONSUMER CHARACTERISTICS PRICE Price sensitive. Prefer prices at lowest possible. “I want to spend as little money as possible!” RELIABILITY Ideal MTBF: 12000 – 17000 “They have to be moderately reliable… but not enough to drive up the price!” POSITIONING Prefer less cutting edge products AGE Ideal Age: 7 years (Bigger Size & Low Performance) “The technology doesn’t have to be cutting edge.” “I want them to have been around for a while… no beta testing!” 9 ©2014 Capsim Management Simulations, Inc. TRADITIONAL CONSUMER CHARACTERISTICS PRICE Price sensitive, but willing to spend more than Low End consumers “I want these sensors to be moderately cheap.” RELIABILITY Ideal MTBF: 14000 – 19000 “They have to be fairly reliable…but not enough to drive up the price!” POSITIONING AGE “Average” Performance and Size Ideal Age: 2 years “I want average sensors.” “I want them to have been around for a couple years…no beta testing!” 10 ©2014 Capsim Management Simulations, Inc. HIGH END CONSUMER CHARACTERISTICS PRICE Not price sensitive, willing to pay higher prices “Price is not an issue. I want the best sensors in the market!” RELIABILITY Ideal MTBF: 20000 – 25000 “We need a very reliable package.” POSITIONING High performance and small size “Only the most cutting edge products will satisfy me!” AGE Ideal Age: 0 years “I want the newest sensors you have!” 11 ©2014 Capsim Management Simulations, Inc. PERFORMANCE CONSUMER CHARACTERISTICS PRICE Not price sensitive, willing to pay moderately higher prices “I am willing to pay for what I need” RELIABILITY Ideal MTBF: 22000 – 27000 “Reliability is very important and must be high.” POSITIONING AGE High performance and small size Ideal Age: 1 year “I want the highest Performance available!” “I prefer new technology!” 12 ©2014 Capsim Management Simulations, Inc. SIZE CONSUMER CHARACTERISTICS PRICE Not price sensitive, willing to pay moderately higher prices “I am willing to pay for what I need” RELIABILITY Ideal MTBF: 16000 – 21000 “We want pretty reliable sensors.” POSITIONING Average Performance but maximum miniaturization “Now that’s small!” AGE Ideal Age: 1.5 year “I prefer fairly new technology!” 13 ©2014 Capsim Management Simulations, Inc. SEGMENT GROWTH  According to a Market Analyst, there will be continuous growth in the sensor market, but beware of external factors such as competitor actions, changing consumer preferences, and changes in the economy. Sensor market “I see the entire market growing at around 14% or 15% per year. The high tech market alone will be growing at a whopping 20%.” YOUR GOAL  Prepare your company’s products to meet the needs of the growing market but expect some bumps along the way. 14 ©2014 Capsim Management Simulations, Inc. THE DECISION MAKING PROCESS ©2014 Capsim Management Simulations, Inc. DECISION AREAS Students need to coordinate strategy and tactics across the following areas of their company: R&D (Research & Development) MARKETING PRODUCTION ADDITIONAL MODULES  HR FINANCE  TQM (Total Quality Management)  Advanced Marketing 16 ©2014 Capsim Management Simulations, Inc. R&D  Ensure the perceived age of the product meets customer demands  Build the quality and reliability (MTBF) of the products  Invent new products to address the changing marketplace and take advantage of new opportunities  Determine the specifications of the products to meet customer expectations 17 ©2014 Capsim Management Simulations, Inc. MARKETING  Set the price of your products  Build customer awareness through investing in promotion  Establish a sales force and distribution channels  Set the sales forecast for your products  Set credit policies (A/R and A/P) 18 ©2014 Capsim Management Simulations, Inc. PRODUCTION  Purchase machinery to automate them in your facilities  Buy or sell capacity on your product lines  Set production schedule  Manage the majority of the company’s fixed assets  Staff your facility with workers 19 ©2014 Capsim Management Simulations, Inc. FINANCE  Acquire capital to fund growth and operations • Issue stock • Short-term debt • Issue long-term bonds  Issue dividends to your shareholders  Balance your debt portfolio  Manage your Proformas 20 ©2014 Capsim Management Simulations, Inc. PROFORMAS: A LOOK INTO THE FUTURE  Proformas use decisions made in the current year to project company performance for the next year  Analyzing them is critical for company success  The following Proformas are available: • Balance Sheet • Income Statement • Cash Flow Statement • Financial Ratios • Balanced Scorecard 21 ©2014 Capsim Management Simulations, Inc. THINGS TO DO ON AN ANNUAL BASIS Establish business strategy for your company Begin the process again by confirming alignment of your results with your company’s strategic goal Analyze Capstone® Courier to see industry results ❯ ❯ Rejoice in your superior capitalistic acumen Make tactical decisions across each functional area (aligned to strategy!) Await results when professor processes Upload official decisions and confirm on the website ❯ 22 ©2014 Capsim Management Simulations, Inc. WRITTEN ASSIGNMENT RUBRIC MKT 450 Write a report on the Electronic Sensor Industry to prepare for the CapSim Simulation. Your team will be managing an electronic sensor business where products must be created, marketed, manufactured and managed financially, so it is important that you have a fundamental understanding of the actual sensor business as well as your CapSim company. This is a two-page single-spaced written assignment: Page One:  Search online to find comprehensive information about the US Electronic Sensor Business.  Write a one page summary of the actual US Electronic Sensor Industry. This should be a general overview of the industry to demonstrate that you have a fundamental understanding of the industry. Page Two:  Use the CapSim slides as a source for page two of this assignment to complete the following tasks: o Write one paragraph with a brief summary of how your company came to exist. o List the five Customer Segments that exist in CapSim. o List the four Buying Criteria that your customers use to make purchase decisions. o Explain what DRIFT is and how you will address it in Capsim.
Purchase answer to see full attachment
User generated content is uploaded by users for the purposes of learning and should be used following Studypool's honor code & terms of service.

Explanation & Answer

Attached.

Running head: ACTUAL US ELECTRONICS

Actual US Electronic Sensor Industry
Institutional Affiliation
Date

1

ACTUAL US ELECTRONICS

2

Actual US Electronics Summary
Electronic sensor industry is one of the growing industries not only in the USA but also
in the whole world. Sensor systems and electronic instrumentation are widely applied most areas
which include home gadgets, automotive, phone, military, consumer electronics, building and
infrastructure, transportation, security, Communication, and IT infrastructure, avionics office
equipment’s, and other areas. According to Grand View research, (2016), a sensor is a gadget
that detects, measures or indicates the specific quantity of the heat, moisture, temperature, light,
by converting them in them into the electronic signals and make readable by a human. With a
growing automotive and electronics industry, the sensor demand is multiplying. The sensor is the
most integral part of most industry, and the sensor industry is rapidly evolving. The electronic
sensor market comprises if fingers print sensor, image sensor, motion sensor, temperature sensor,
proximity sensor, and others.
According to Grand View research (2016), the sensor market is expected to grow by
2022 dramatically, and the global sensor market is expected to garner $ 241 billion. In other
words, the global sensor market is expected to grow by 11.3 percent by 2022. In 2016, the
sensor market report indicated that the sensor market contributes to 45 of the global market
(Grand View research, 2016). This gives an opportunity for firms to enter the sensor industry
since the market is rapidly growing. The sensor consumption is growing as the demand for
smartphones, automobiles, security, and so on increases. The evolution of sensor has been
positively influenced by the Internet of Things (IoT), advancements in consumer elec...


Anonymous
This is great! Exactly what I wanted.

Studypool
4.7
Trustpilot
4.5
Sitejabber
4.4

Related Tags