NX9523: Which is your best performing phone sales from the 6 rounds What do you think works to have achieved this result: Business Professional Practice Report, NU, Singapore

The purpose of this assignment is to reflect on is to test what have you learned about Marketing Strategies and working with a team.

Here’s the rough guide on what they could reflect on:

1) Which is your best performing phone sales from the 6 rounds. What do you think works to have achieved this result?

2) Which is your worst-performing phone sales from the 6 rounds. What do you think went wrong?

3) What is your share price ranking by end of round 6? Are you satisfied with your position, and why?

4) Report structure, presentation of the report, referencing 5 marks
You may use the pointers below as a guide on what to look out for, and what comments to provide.

1) Which is your best performing phone sales from the 6 rounds. What do you think works to have achieved this result?

Example: Right use of…

• Due to good research findings and analysis (sharp insights gathered about market size, consumer preference and trends, competitors strengths and weaknesses, an untapped market segment with little to no competition)

• Due to of Segmenting Targeting and Positioning

o how to segment, and study DSRR
▪ Definable – Do you know specifically who are your target market
▪ Sizeable – how much is the size of your target market
▪ Reachable – which channels (eg: supermarket, specialty store or department stores) to reach out to your target market
▪ Relevance – What will appeal to them in terms of phone design, feature, price.

o What is the positioning strategy – against your competitors or away from competition to increase your chances of success

• Due to 4Ps design

o Product feature ie: sports, classic, avant garde)
o Price strategy (skimming or penetration)
o Distribution – how much to invest in your distribution for each of the 3 types of channels that are selected
o Promotions- how much to advertise in order to get you the desired conversion rate)
• Due to optimisation

2) Which is your worst performing phone sales from the 6 rounds. What do you think went wrong?
Worst performing due to:

Example: Right use of…

• Due to poor research findings and analysis (incorrect insights gathered about market size, ignore consumer preference and trends, failed to analyse competitors strengths and weaknesses, chosen market segment with much competition)

• Due to of Segmenting Targeting and Positioning

o how to segment, and never study DSRR
▪ Definable – fail to look into know specifically who are your target market
▪ Sizeable – do not know the size of your target market
▪ Reachable – do not know which channels (eg: online, specialty store or general stores) to reach out to your target market
▪ Relevance – fail to find out what will appeal to them in terms of phone design, feature, price.

o Poor positioning strategy – No thoughts given to positioning the phone against your competitors or away from competition to increase your chances of success

• Due to 4Ps design – no consideration for…
o Product feature ie: sports, classic, avant garde)
o Price strategy (skimming or penetration)
o Distribution – how much to invest in your distribution for each of the 3 types of channels that are selected
o Promotions- how much to advertise in order to get you the desired conversion rate)
• Due to ignoring use of optimisation study for next plan of actions in marketing plan

3) What is your share price ranking by end of round 6? Are you satisfied with your position, and why? 600 words Do not need to discuss all factors below
• Sound strategy
• Good optimisation plan
• Leadership
• Effective Communications
• Team work & conflict management
• Time management