5 Mins to Understand Capstone

Introduction

Now, you may just realise Capstone is hell difficult for you. Fortunately, you have got here. Please read this article so that you can get a basic understanding what you are facing to. Other articles will also give you a better understanding. But before that, spend 5 mins to read this article.

Capstone (Capsim.com) is an online business simulation engage participants in a dynamic competition to turn struggling companies into successful, profitable businesses. Your lecture may have already splited up your classmates into different groups. You and your fellows (usually 4-6 people), as one of the companies, have to compete with other companies (your classmates) in the next 8 rounds/years (your lecture may set a year as a week).

What Is It?

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Example of Segment Drift

This is a perceptual map showing how each segment (five groups of consumers) is moving in the next 8 rounds. It shows one of the customer buying criteria that is Positioning (Coordination of Size and Performance). Within the Black Circle (Fine Cut), people will buy your products. Closer to the pink spots (Ideal Spot), more people will buy your products. Between the Black & Grey circle (Rough Cut), few people buy it. Out of Grey circle, NO ONE but it. Otherwise, make sure your products are positioned in the Black Circle.

Other buying criteria include Age, Price, Reliability (MTBF/Durability). You may try to best meet the buying criteria for each segment with different buying criteria.

Process

R&D

The very first step is to do R&D so that your products designed for each segment are the ones the customers want. As mentioned earlier, each segment has different buying criteria. Try to satisfy each segment (or your targeted segment, which I will cover at later section.).

Marketing

Promotion & Sales Budget

After R&D, you may decide how much you will invest in Marketing Promotion (Advertising)...