Class recap 12/9
This week we dove head first into out simulations. These simulations are about a company named Blue that sells products including laundry detergent. The company has many competitors within the market that vary in value. The point of the simulation is so be able to use the skills we learned about market segmentation and tactics to create an approach for the company that would better its business in the future. The first thing we had to do was create a target market based on income, ethnicity, age, household size, and location. In doing so we had to run the simulation many times in order to look at certain aspect of each segment such as market share, revenue, operating profit, brand demand, and trade channels. After sorting through them to find which segment best summarizes who the company wants to sell to, we then had to gather facts and generate insights in order to figure out how to approach the production. After generating theses insights and forecasting sales we were able to come up...