Marketing Simulation

May 27th, 2016
Studypool Tutor
Kaplan University
Price: $20 USD

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This week you will continue to play the role of the marketing manager in a marketing simulation for Minnesota Micromotors, Inc. (MM). Minnesota Micromotors, Inc. (MM), based in Minneapolis, is a manufacturer of brushless, direct current (BLDC) 1 motors used in orthopedic medical devices. Approximately 70% of the revenues of Minnesota Micromotors, Inc. were generated from customers that placed large-volume orders. Marketing Simulation After you play the simulation in three steps (view the Directions icon document) complete the Assignment detailed in the Rubric below. See Rubric below for Assignment details.

Word Count: 1046
Showing Page: 1/7
Market Simulation1NameCourseUniversityDateMarket Simulation2The growth of a company is determined by the profit marginal of a company within a specifiedperiod. For this reason, all the managers and other entrepreneurs will always take profitmaximization as the first priority. The business stakeholders will always find strategic policieswithin the business that will increase the demand for their product. High demand for a productwill be subject to the factors such as quality of the product, the advertising level, the price of thecommodity among other factors. It is important to take the prices of the commodity as one of theimportant factor that determines the demand. The prices are in fact dependent to the cost ofproduction and therefore the factors that facilitate the production of the specific commodity mustbe rationed in such a way that the set prices and the cost, revenue relationship is feasible. Thefeasibility will therefore be subject to the strategy that an entrepreneur will take.The first strategy to take is to ensure that one does not lose the order customers, for a reason Ihave to ensure that my distributors are comfortable with the commission that they are getting.Secondly, the prices of the product must be affordable to the customers in order to maintain theolder customers. To ensure the same has been taken care of I have to increase the cost onresearch to $50000 and marketing cost by 80%.in this case the quality of the product willim

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