Assessment type: Individual Report
You will be required to submit a 1000 word report outlining your reflections on the Simulation Game.
On completion of the Simulation, you are asked to develop a critical report that will take the reader through your journey of decisions throughout the simulation. The reflection should focus on the Pricing aspect of the 4 P’s for one customer segment of your choice.
Important: When writing your report, focus on producing a critical reflection on your decisions and not just a reiteration of the decisions you made. You must include a discussion on the theories that guided your decision, what worked, why you think it worked, what didn’t work and what do you intend to do differently if you were to do this exercise again.
How to structure the report?
The report should be structured as follows:
Title page (see rubric for required details)
Introduction (Overview of decisions in Quarter 1) (approximately 100 words)
Pricing – Quarter 2 to 6 (decisions made in relation to appropriate theories) (approximately 800 words)
Conclusion (approximately 100 words)
References (see formatting requirements here
Some tips to assist you
When reflecting on Pricing, discuss your overall pricing decisions through the simulation. For example, discuss the pricing strategy you applied for the new product you developed and launched in Quarter 2, the subsequent pricing modification(s) you made to the brand over the next 4 quarters, and other pricing strategies applied. Discuss the effect these changes had on the overall performance of your brand(s) and the rationale for those decisions. Most importantly, what theories guided you in your decision process relating to this aspect of the marketing strategy? Did the market respond in-line with your theoretical reasoning? How did you benefit from participating in the simulation? Are there any lessons that you can take into the business world?