No Marshmallows, Just Term Papers
Team.member: | Sang Tran and Sahil Sheoran |
Access id: | spjmm2group28 |
Attempts | Decisions made | Outcomes | Learning |
1 | 1. In first 2 Quarters, focused more on Segment B and C.
2. Made abrupt changes in prices throughout.
3. Did not spend on Market Research. | 1. Net Income dropped from 200K to -200K
2. Purchases dropped significantly for all segments.
3. All the segments were dis-satisfied except Small customer. | 1. In the attempt to gain on smaller segments and improve on their requirements, we lost on our major customers. Therefore, we should not lose focus from our loyal and major customers.
2. In small markets, if we decrease the price initially, it becomes difficult to pull it up again later. The increase in price should be justified by providing quality products and services.
3. We need to spend on Market research to understand the needs of our customers. In order to save a little on expenses by saving on Market Research Expenditure, we reached a situation where our company would not have survived in real life scenario. |
2 | 1. We tried to capture consumer surplus from Segment C.
2. We tried to satisfy all the customers.
3. We spent money on Market Communication and Training. | 1. Net Income increased.
2. Except for Segment B in later stage, the entire segments were very satisfied throughout.
3. Quality of Sales Representative Interaction was rated nearly excellent throughout. | 1. We can capture all consumer surpluses from all segments by varying discounts offered to various segments.
2. Instead of satisfying all the segments, we should focus on a few segments and try to differentiate our products and services.
3. It is very important to interact with the consumers regularly and incorporate their needs to convert new customers into loyal customers. |