Practice Marketing Simulation Paper
QUEENSLAND UNIVERSITY OF TECHNOLOGY
Assessment 2 BSB126
Practice Marketing Simulation
An Individual Analysis of Team 45F Advertising Decisions
An individual analysis of the marketing decisions made by Team 45F throughout turns 1 to 2 in the practice marketing simulation. In particular this report will focus on the selection of advertising mediums throughout the initial phase of product launch.
What Were the Implications of the Advertising choices for Team 45F from Turn 1 to 2?
Introduction
This report analyses the advertising decisions made by Marketing Team 45F. In particular it will focus on the choice in advertising mediums throughout steps 1 to 2 during the initial phase of product launch as these are …show more content…
The team had a trial and error approach to the early stages of our marketing. Due to the changes made in the design throughout the simulation combined with the little research conducted into our target market it proved to be a crucial mistake in the overall simulation which left the team with less than 20% of the market costs to begin turn 2 (See Appendix, Page 1, Turn 1: Market Costs & Media Spending). Whilst our target market was school children few have the funds to purchase products on their own, thus an important factor overlooked when marketing to school children was the importance of also targeting ‘Stay at home Mum’s’ as a second target demographic. When reviewing the simulation advertising decisions the Team should have recognized ‘Luxury Target Market’ as a secondary audience and in turn reached a larger portion of the overall influencing target market. Further to this an understanding of the associated costs and reach of chosen advertising mediums would have assisted in the decision making process from Turn 1 to …show more content…
Baker, M. J. (2012). The marketing mix. London: Henry Stewart Talks.
2. Barrow, P. (1990). Does your advertising direct or intrude? The Canadian Manager, 15(1), 26-27. Retrieved from http://search.proquest.com/docview/213654210?accountid=13380
3. Calvert, S. L. (2008). Children as consumers: Advertising and marketing. The Future of Children, 18(1), 205-234. doi:10.1353/foc.0.0001
4. Kerin, R. A., & McDonnell, J. (2008). Marketing: The Core. North Ryde, N.S.W: McGraw Hill Education.
5. Mohammed Rafiq, & Pervaiz K. Ahmed. (1995). Using the 7Ps as a generic marketing mix. Marketing Intelligence & Planning, 13(9), 4-15. doi:10.1108/02634509510097793
6. Plummer, J. T., Books24x7, I., & Advertising Research Foundation. (2007). The online advertising playbook: Proven strategies and tested tactics from the advertising research foundation. Hoboken, N.J: John Wiley & Sons, Inc.
7. Tebbutt, J. (2006). Imaginative demographics: The emergence of a radio talkback audience in Australia. Media, Culture & Society, 28(6), 857-882. doi:10.1177/0163443706068920
8. Warner, C. (2009). Media selling: Television, print, internet, radio. Chichester, West Sussex, U.K: Wiley-Blackwell.
9. Wray Ellis. (1998, ). Frequency the key to radio advertising: Final edition. The Spectator, pp.
Assessment 2 BSB126
Practice Marketing Simulation
An Individual Analysis of Team 45F Advertising Decisions
An individual analysis of the marketing decisions made by Team 45F throughout turns 1 to 2 in the practice marketing simulation. In particular this report will focus on the selection of advertising mediums throughout the initial phase of product launch.
What Were the Implications of the Advertising choices for Team 45F from Turn 1 to 2?
Introduction
This report analyses the advertising decisions made by Marketing Team 45F. In particular it will focus on the choice in advertising mediums throughout steps 1 to 2 during the initial phase of product launch as these are …show more content…
The team had a trial and error approach to the early stages of our marketing. Due to the changes made in the design throughout the simulation combined with the little research conducted into our target market it proved to be a crucial mistake in the overall simulation which left the team with less than 20% of the market costs to begin turn 2 (See Appendix, Page 1, Turn 1: Market Costs & Media Spending). Whilst our target market was school children few have the funds to purchase products on their own, thus an important factor overlooked when marketing to school children was the importance of also targeting ‘Stay at home Mum’s’ as a second target demographic. When reviewing the simulation advertising decisions the Team should have recognized ‘Luxury Target Market’ as a secondary audience and in turn reached a larger portion of the overall influencing target market. Further to this an understanding of the associated costs and reach of chosen advertising mediums would have assisted in the decision making process from Turn 1 to …show more content…
Baker, M. J. (2012). The marketing mix. London: Henry Stewart Talks.
2. Barrow, P. (1990). Does your advertising direct or intrude? The Canadian Manager, 15(1), 26-27. Retrieved from http://search.proquest.com/docview/213654210?accountid=13380
3. Calvert, S. L. (2008). Children as consumers: Advertising and marketing. The Future of Children, 18(1), 205-234. doi:10.1353/foc.0.0001
4. Kerin, R. A., & McDonnell, J. (2008). Marketing: The Core. North Ryde, N.S.W: McGraw Hill Education.
5. Mohammed Rafiq, & Pervaiz K. Ahmed. (1995). Using the 7Ps as a generic marketing mix. Marketing Intelligence & Planning, 13(9), 4-15. doi:10.1108/02634509510097793
6. Plummer, J. T., Books24x7, I., & Advertising Research Foundation. (2007). The online advertising playbook: Proven strategies and tested tactics from the advertising research foundation. Hoboken, N.J: John Wiley & Sons, Inc.
7. Tebbutt, J. (2006). Imaginative demographics: The emergence of a radio talkback audience in Australia. Media, Culture & Society, 28(6), 857-882. doi:10.1177/0163443706068920
8. Warner, C. (2009). Media selling: Television, print, internet, radio. Chichester, West Sussex, U.K: Wiley-Blackwell.
9. Wray Ellis. (1998, ). Frequency the key to radio advertising: Final edition. The Spectator, pp.