China New Future Essay Example

and boost productivity. Accomplishing this required my management team to devise a marketing strategy that comprehends our customers' requirements.

It is crucial to meet the needs of your customers, but those needs and the business environment constantly change over time. A marketing strategy that succeeds will also enable the company to assess how well it meets customer requirements and competes against threats from competitors (Sandhusen 2000). When operating Capsim, my first consideration is the marketing strategy for my company.

It is important to consider the changes and the opportunities and threats that will occur. An entrepreneurial personality assessment and an opportunity evaluation are required. The assessment can be found in the appendix. The creativity, entrepreneurialism, imagination, thinking and conceptualizing, creative philosophy, and flexible attitude are all equally important. Therefore, I must adhere to the key elements of success in order to develop the strategy. The crucial element is understanding who the customers are and what they desire.

According to Business Link, it is critical to target customer groups or segments and tailor marketing activities to cater to their specific needs. Furthermore, it is important to stay alert and adapt to any changes in customer demands. In the case of Capsim, customers are categorized into different market segments based on their preferences. As an electronic sensor company, these segments can be further classified into five parts: Traditional customers prefer reliable technology that offers moderate size and performance. Low End customers prioritize affordability over miniaturization and performance. High-End customers seek top-performing products in compact sizes.

The text highlights two types of customers in the Capsim introduction - performance customers and size customers. While performance customers prioritize high prices and are willing

to compromise on miniaturization, size customers prioritize small products and are willing to sacrifice performance. It is crucial to create distinct strategies for each customer segment. For traditional customers, the focus should be on developing moderately-sized and performing products, as these customers value appropriate pricing and size.

During rounds 1 to 8 of the Capsim game, I successfully gained profits by lowering prices to attract new customers. It is important for the company to focus on improving quality as high-end customers prioritize it and are willing to pay higher prices. Conversely, low-end customers prioritize price and affordability. Unfortunately, I failed to consider the company's strengths and weaknesses despite following game tips, which was disappointing.

During round 1, I experienced lower profits, leading me to believe that my strategy was correct. I continued to employ these same strategies in subsequent rounds. Even though I incurred significant losses in rounds 2 and 6, I did not alter my approach for these customers. In the Capsim game, my mistake was not considering how my company's strengths and weaknesses would impact my marketing decisions each round. I failed to conduct a thorough SWOT analysis to identify my company's strengths, weaknesses, opportunities, and threats.

The text within the

and

remains unchanged.