Adventure Works Marketing Plan
Executive Summary
This paper highlights to understand a business in a competitive world. It makes it one of the reinforcing business if an in depth evaluation is done of the business. MikesBikes has been a dynamic force which has penetrated within the market segment. In a game of the business it is fair to make a product, pricing, marketing, One should have a benchmark according to which a market situation, management accounting along with an in depth evaluation of the financial accounting is done.
Contents
Executive Summary 1
Inroduction: 3
Strategy: 3
Conclusion: 4
Introduction:
In order to have a pre-determined application of the business integrated within the business world it is necessary to have different strategies to be applied within the decision making in real world. Mikesbikes is a part of the business strategies. It is important as it s categorization within the different segments which takes into the various consideration of the advertising allocation, capacity, distribution along with the debt and equity control.
One needs to have a variation in the Mikesbikes business simulation which includes the below two-:
Single play
Multiplay
As a part of the Mikesbikes Intro the identical play is made by the Smartsims which helps towards the business simulation in order to get Mikesbikes Intro multi play. The process of the Single player which stimulates the multiplayer in which one can play the game along with the computer in order to have competitor upon which one can gain much experience Mikesbikes Intro multiplay.
Strategy:
As a part of the strategy the Mikesbikes Intro Single play has all the relevant segments which are bifurcated into the price, development, production, advertising, PR, capacity, distribution, debt and equity etc. It should have a unique strategy embedded with the thoughtful planning in order to focus towards the increase shareholder value (SHV). With an in depth strategy is opened. From the game I realized that it is better to play with given planning towards the advertisements along with focusing on the elimination of wastage & enhancing the factory quality rating. Keeping focus in mind on quality along with the targeting huge sales it would enable the profit that would bring goal “SHV”.
It is important to distribution margin & gain extra support to cover the brand cost as well. For this the debt makes the interest cost also reduces the SHV so its imperative to pay back the debt. Also buy back share increases SHV which would reduce the dividend amount along with increasing the SHV as well.
My Experience:
We learned through my experience in the first 4 weeks which was emphaisied by the key learning by the mentor Rex Walsh which highlighted the simulation software. As a part of the start we were given generic username and the password as given to the single player account which would work upon the Mike bikes simulation along with the beginning of our business.
As a first step we changed the name which focused on the single player simulation. Through in depth learning via reports, I gained personal experience through it.
As we progressed we were not operating the mountain bikes & gave a pricing of $750 along with making a low scope of PR and advertisement budgets. As a repercussion effect the SHV reduced from $12 to $5. Enabling & integrating the advertisement it helped in making the SHV back to $8. Second year with the focus on branding we reduced the pricing from $750 to $705, to aggressively participate in the sales. With the peers outlook our SHV was looking impactful. As a part I kept the journal as part of the studies.
After this I was focused on the basic idea of this simulation, as I was better decision maker. Below are the key observations-:
As the intial price the mountain bike was kept at $750 with an overview target of 20000 units for sale along with the availability of the 18500 units available for sale. Engaging advertisement and PR, the prices were increased along with enhanced producttion. Below were the results:
Year – 2018
Financial Assessment
Company Bikes Mountain Top Cycles
Shareholder Value (SHV) $12.00 $12.07
Retail Sales $12,187,000 $12,150,000
Profit After Tax $1,250,600 $1,545,600
As a part of the strategy I learned that due to the low production & high footfall we lost few sales units & we required to optimize the production capacity with more sales, along with the increase my production to predict sales. Rebranding & promoting budget was increased from 300000 to 750000 along with it the mountain bike was channelized into the 3 channels by which we can deliver the sports store along with providing the coverage of 60 stores & there upon focusing on 25% margin over sales. Below are the observations
Year – 2019
Financial Obserations
Company Bikes Mountain Top Cycles
Shareholder Value (SHV) $16.22 $13.02
Retail Sales $14,480,000 $13,494,000
Profit After Tax $2,120,700 $1,405,100
During this time the results were promising due to the high budget allocated to the advertisement & PR with no loss of footfall & sales. To buck up we also increased the distribution to make the networking in the distribution strong. The warehouse & the production was working at the same level.
To make an imperative planning for the year 2020 it was as per the decisions year underlined to generate high pricing for the retail pricing along with more spending on advertisement and PR campaign. The budget allocated for the branding worked towards the optimum levels along with the forecasted quality level making same evaluated figures for the coming year, upon which the new allocated budget to the quality sector was increased by the 80% along with optimizing production to match it with the forecasted results. Discount store sales pushed the sales. Below are the observation-:
Year – 2020
Financial observation
Company Bikes Mountain Top Cycles
Shareholder Value (SHV) $17.04 $13.02
Retail Sales $16,260,000 $13,629,100
Profit After Tax $1,670,000 $948,200
The launch of new product was enabled as a single player in the 4th consecutive year with below highlighted takeaways
New ideas along with new performing suggestions was inculcated with the current product along with the new specifications. The four suggestions had a costing of 1 million each along with the 2 million if in the case of the enahncing improvements within the specifications & elimination of the costing of existing product.
- Costing of $1 million to start the launch of new product.
- Another cost of $1 million in order to enhance the specifications of current product.
- Another cost of $1 million to lower the price of existing product.
- Also it will include the costing of $2 million to enhance along with the specifications in order to lower the cost of existing product.
With this I launched a youth bike along with discount stores & strategy enhancing reports for the following years. With heavy load on advertisement & reaching to masses through TV, we keep allocated budgets.
Year – 2021
Financial Observations
Company Bikes Mountain Top Cycles
Shareholder Value (SHV) $29.05 $18.00
Retail Sales $24,670,000 $24,100,100
Profit After Tax $3,200,000 $917,700
With this the SHV has increased in 2021 due to the distribution strategy; but in between this lowered the youth bike sales due to the under production. Aligning customer expectation with the production capacity along with making a decision of buying back shares to make a move in the distribution of dividend. New product road bike along with pricing $2000 making a production of 55000 along with the sales of 24500 youth and 24500 mountain bikes. Prcing slightly increased for the mountain bike along with the youth bike. To give $1 dividend along with the $200,000 shares buy back. It competed in the market with the peers
Year – 2022
Financial Observations
Company Bikes Mountain Top Cycles
Shareholder Value (SHV) $49.07 $34.07
Retail Sales $37,310,000 $37,00,000
Profit After Tax $6,650,00 $4,780,001
The comparison of the 6 years were that initial results were impactful along with the last 2 years which enabled crucial decisions for the finance. With the focus on financing it helped the outlook in the last 2 years along with increasing the SHV which are way ahead of the competitive target. Giving a favorable option of the bikes in the 3 categories but still had a fall in the SHV.
Synopsis of the points learned.
It imperative to explore several options before concluding towards the smart Sims, & due to this, I have learned 5 key points related to the multiplayer group activity. Below mentioned point’s are-:
- Through strong advertisement its important to advertise & create awareness for the mountain bike through Advertisements. The devised plans towards the media engagement would be beneficial.
- Enabling a distribution plan which would compensate the market aligned strategy.
- Rendering the production & maintaining the quantity of bikes. It is crucial to keep the balance.
- Maintaining market research efficiency by working towards it.eliminate or lower the expenditure along with expenses.
- By reaching a target of the more than 50% market share, the prices along with enabling the market strategy can be planned.
Conclusion:
The game has its unique aspects & the gamer always learn the new things due to the single play & as a part of the experienced professional experience we are also making a unique strategy & gained it by making customer along with the shareholder happy. Also the unique fact that the single play would also inculcate multi play in order to make strategic decisions for the given year For this the “The decision table” has been enclosed to make the gaming Mikesbikes multi play along with the single play with the past year.