Retention of Existing Customers is a key part of how to win AdSim and this is your main decision for keeping them satisfied with your Customer Service Level. Three periods into the simulation and you will be given control of your firm’s Customer Relationship Management strategy.Ĭustomer Relationship Management or CRM is an approach to manage a company’s interaction with current and potential customers. What is Customer Relationship Management (CRM)? After the 2nd rollover you may launch additional products into the Youth and Sports segments (Multi-Player only).
You will be selling a single Standard Segment music player in the first two years of the simulation. It is the largest of the three segments but has minimal underlying growth. So you may only require a single product spec improvement project midway through the simulation to remain competitive. This is the slowest moving segment and has low sensitivity to product specs. However, be careful of engaging in a price war. Plan for this with cost reduction projects to maintain acceptable unit margins. Since consumers in this segment are highly price sensitive, you can expect some price competition. Consumer style / tech spec preferences change slowly, so segment moves.Low sensitivity to product specifications.High sensitivity to distribution coverage.Price range is $40 to $120, but the recommended range is $85 to $100.Medium priced ($85 – $100) with high price sensitivity.While young adults in this segment share the purchasing ability of their sports counterparts, they are more price conscious, which is reflected in the relative pricing between these two segments. Standard SegmentĬonsumers in this segment tend to be less active than those in the Sports segment and thus do not require the high level of technological specifications inherent in sports designs.
Part of the challenge of Music2Go is in being able to balance the needs of your products within your limited marketing budget. Starting in Year 3 (after 2nd rollover) you may improve your existing product and/or launch additional products into new market segments (up to a maximum of 4 products by Year 6). You start with a single MP3 Player product in the Standard market segment. These segments have different sizes, projected growth, sensitivity to price, advertising, distribution, and product specs. There are three market segments in Music2Go – Standard, Youth, and Sports (Multi-Player only). In this article, we’ll be talking about the Standard Segment.
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This article will be a three-part series introducing the market segments in Music2Go Marketing Business Simulation.