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1.

Quarter 1(introduction)
- decided on the company name- InnoTech
- decided on the roles and responsibilities of each member of the team based on our
knowledge and skills
- bought initial market research and determined the size of the sample, because we
decided that the error should be under 5% and the sample size should be of a
considerable amount, not too big, not too small
Learning outcomes:
- we learnt about the different positions and responsibilities in a company and how
they are connected to each other

2. Quarter 2
- Analyzing the market survey from quarter 1
- We chose 2 segments to target (traveler and workhorse),but focusing most of our
attention on the traveler segment. The reason is that both segments were similar
from many points of view and we thought that we can reach customers from both
segments with our product. Decided to large, highly competitive segments, because
we wanted to be the first to market , the market share leader and The high service
provider on the market.
- Decided on the initial marketing strategy
- -scheduled the opening of one sales office- in Los Angeles, based on the market
demand for our target segments and customers were willing to pay a higher price in
this region
- Designed the brand
- Focus on geographic markets that minimize distribution costs

Learning outcomes
- We learnt how to interpret the market survey in order to take the best decisions in
terms of: strategy, targeting, positioning, brand characteristics and sales channels
- Our strategig direction was to create one product , one sales office because we
wanted to improve the number later, not in quarter 2

3. Quarter 3

- Designed a new brand more targeted for the segments we chose


- Decided on the prices of each product and the number of units to produce, based on
the cost of production (related to the characteristics we added to the brands)
- Designed the ads for each product
- Hired sales people
- Decided not to open a new sales office in this quarter, because we didn t want to risk
- We analyzed the customer need and use pattern for the segments chosen and we
tried to include all the important characteristics of the products in the
advertisement. We put the more important characteristics at the beginning, followed
by less important ones.
Learning outcomes:
- We learnt how to balance the characteristics that the products have with the price
we ask for
- We leant how to adjust the product characteristics with the use patterns and
customer needs for each segment; we also took into consideration the price willing
to pay for our segment; decided that the price should be close to the price willing to
pay
- The main factor considered relevant for our strategic direction was the desired mode
characteristic
risk-averse they will prefer export modes (e.g. indirect and direct exporting) or
licensing (an intermediate mode), because these typically entail low levels of
financial and management resource commitment. A joint venture provides a way of
sharing risk, financial exposure and the cost of establishing local distribution
networks and hiring
local personnel, although negotiating and managing joint ventures often absorbs
considerable
management time and effort. However, modes of entry that entail minimal levels of
resource
commitment, and hence minimal risks, are unlikely to foster the development of
international
operations and may result in significant loss of opportunity
- We wanted to obtain new customers by increasing consumer awareness of the firm’s
products and improving the firms’ s corporate image -about advertising

4. Quarter 4

- We reviewed the feedback from the market test


- Changed the InnoX from laptop to desktop based on the feedback we received
- Changed the price for InnoX
- Decreased the number of sales people from 7 to 5
- We met the expectations for the advertisments in both segments

Learning outcome
- We learnt how to analyze the data from the market test and what our competitors
did. We learnt to adapt our strategy in order to better target our customers, taking
into account our evolution compared to our competitors.
- We realized that the strategic direction we used was wrong

5. Quarter 5

- We decided to invest in.2 characteristis from the research and development in order
for the product to be better for the traveler segment
Analyse and see how we could have done things differently, how our competitors did
and what we could have done differently, what we learnt
What was right or wrong about our decisions and why we made those decisions
Strengths and weaknesses
Why we did well or bad what we did

Reflect on strength and weaknesses and find a model to suit it


What could we have done to make sure that our products are socially responsible
and inform the campaigns
How we communicated- whats up and during the presentation as well
How did we approach the tasks and assign roles
What we could have done to make it better
Were the results expected- this is whats was expected and mention why we made
this decisions and the outcome- mismatch or why we performed better than
expected