In this reflection, they are going to see learn and try to understand the plan or in other words, they say that blueprint of marketing of the organization or business name Impulse. Each number of participants in the existing business or organization works over the stimulation that is given access to the organization or company that is active and exists in the environment. With the help of stimulation, they will receive the outcome or result that is regarding the performance or the presentation of the end period or time that also includes or involves the groups or team of stimulation. This report will also show distant or dissimilar things that involve fiscal or financial performance. This report also includes or involves the sharing of information and data that is related to linked with marketing size, sharing, and analysis. Then they are going to see learn and try to recognize the analysis for both SWOT and competitor. This report also contains or comprises segmentation, targeting and positioning. Then they are going to see the strategies and objectives of the business or organization. Then they are going to work on evaluating the game. Later in the report, they also going to perform the personal perspective that contains the introduction, concrete experience, observation, conceptualization and experimentation. Last but not least they are going to see and try the value of simulation games and the conclusion or in other words they can say the finding of the report.
2. Marketing Plan
2.1. Marketing Analysis
Basically, and generally, market analysis is a type of examination that is detailed over the niche of the market with the industry that is very definite and specific. This will contain and comprises of some factor that includes some external factor and some internal factors that will give a decent amount of pressure or impact on the operation of a business. With the bits of help of variables, the organization or business can work on developing or creating of a strategy or technique that is optimal. In the society or culture that they are living the expectation of the consumer or customer, desire, wants and need is becoming the most crucial and essential element or factor of the market. Talking sneakers, it is Constitute as one of the fastest growing industries. The reason behind this is very simple sneaker is quite affordable and the market it that is very competitive. In order or in other words, attempting to capture the industry of the market there are a distant or dissimilar range of sneakers that are affordable and available for children, men and women (Pappas, 2016).
2.2. Market Size
Talking Impulse which is considered a sneaker is of the lower price in the existing market that is simulation. Impulse is measured or considered as the second lowest-price in the market. If talking about the situation or condition of the trend that is related to link with the sales it is showing an upward reflection that simply mean the rise of profit and at the same time expansion of the market of sneaker that is new. As the price of the sneaker will decrease the administered value of the investment. Talking about the current situation or condition of the loans over the organization is about £100,000.00 and the remnant is about £300,000.00 with an interest of 2 %. Talking about the trends of the sales that shoes the increments in 2023 that amount was supposed to be £3,601,408. The graphs also show an increase in the rise of sales of £6,049,740. But lower they can also see the decline of graphs in the year 2025 that shows the decrease or diminish of the trend of sales of £3,709,142. With the combination of both marketing penetration strategies or techniques and cost leadership in bit adding or increasing the growth in the next year at the same time they also have to be aware decreasing of sales in the year 2025 (Mayer, et al., 2014).
2.3. Market Share
The selection of the channels of distribution is an incentive and they can easily reach the audience that is being targeted. Talking about the incentive distribution will make sure that the sneaker will be possibly available in the shops that is aiming or directing the number of sales. Specifically, or in other words, specially develops or improves the position or place in the market price. Sideways or along with the distribution that is intensive. The organization or business will use or utilize distant or dissimilar types of techniques or strategies that include or involves both traditional and digital marketing channels that start from the beginning of the stimulation for every target to reach them. As shown in the below-given figure the market share of the organization will rise from the year 2023 to the year 2024. According to the graph, the market share of Impulse is the year 2023 is about 15.95% which will definitely be going to rise in the year 2024 as shown in the graph which is about 21.62%. Impulse is going to increase or upsurge the standards or level of the market that will consistently grow in the coming years. With the helps or provide assistance with this graph they can conclude that the market trusts the sneakers that is created or developed by Impulse
2.4. Competitor Analysis
Impulse will go to operate the market of sneakers that is extremely competitive. The price of the sneaker will go to play a very essential or crucial role to compete with the competitor. The goal or objective of the organization name Impulse will go to become the leader of the sneakers market. Below is the list of some distant or dissimilar competitors of the sneaker market they are as follows:
1 The first organization that is considered or measured as the competitor of Impulse is REDA.
2 The second organization that is considered or measured as the competitor of Impulse is REDG.
3 The third and the last organization that is considered or measured as the competitor of Impulse is HOBBITS.
Impulse will definitely go to compete with all the existing brands in the range of pricing. While talking the other competitor in the range of sneakers will also going to give tough competition across all the existing categories that include or involves children, men and women. The reason why Impulse going to face difficulty in terms of finance or in other words they can fiscal.
2.5. SWOT Analysis
As they all know SWOT is considered one of the most essential tool or instruments to analyze the Strength, Weaknesses, Opportunities and Threats of an organization or business.
- Talking about the first point that will go to represent the strength of the organization name Impulse. Impulse is considered or represented as the fourth leader in the existing price market (Autor, et al., 2017).
- Talking about the second point that will go to represent the strength of the organization name Impulse is the adaptation of the technique or strategy of cost leadership that will go to help the impulse to gain a huge present.
- Conversation about the first point that will go to represent the weakness of the organization name Impulse is the mismanagement or administration of the inventory that will not go to fulfilment the demand of the consumer.
- Conversation about the second point that will go to represent the weakness of the organization name Impulse in not making a huge profit in the recent year. That will be cleared if they’re looking over the trend of sales for the year 2023.
- Discussion about the first point that will go to represent the opportunities of the organization name Impulse is the technique or the strategy of incentive distribution as the demand for the shoes or sneakers will going to be a rise or in other words, they can say going to be an increase on the basis of every year.
- Discussion about the second point that will go to represent the opportunities of the organization name Impulse to increase the level or stands of punches so on the other hand the price or cost will going to decline or decrease.
- Speaking about the first point that will go to represent the opportunities of the organization name Impulse is the level or standard competition in the segment of price. The impulse is going to face a lot of challenges and issues from the existing condition of the market.
- Speaking the second point that will go to represent the opportunities of the organization name Impulse is going to face issues or challenge that is related to link with finance or fiscal.
2.6. Segmentation, Targeting and positioning
Basically, market segmentation team or group of peoples that will going to hold the beliefs, needs and desires. Impulse is an organization that have employees that will working over finding or identification of potential customer or consumer for the that is based on the price that is comparatively lower than other. Impulse segmentation is based group of age group that includes or involves men, women and children.
Targeting is very essential and very crucial component or element form every organization. This is also considered as the next step after segmentation is positively or effectively implemented. As they all know that sneakers is highly competitive is they have choose or select the market that has cater to. Below are the three option of market coverage they are as follows:
- The first is concerned marketing.
- The second is Undifferentiated marketing.
- The third and the last is differentiated marketing.
Positioning is considered as last phase of the after targeting. Organization and business will be working over making a statement of positioning that will highlights and outlines the other competitors to make them see it as a distant or dissimilar product. This can be the reason for high cost of production that will later affects the expenses that is related to operating.
2.7. Marketing Mix
|Sneaker available for children, men and women
|The strategy that is going to use is price penetration.
|Intensive and selective channels for distribution (Ryan, 2016).
|Online, magazine and newspaper.
3. Business or organization strategies, goals and objectives
Talking about the goal, strategies and objectives of the market, is considered one of the most essential and important practices of marketing at the same time it is also considered a vital area of technique or strategy of marketing. As the core function of the organization or business the implementation or development of the strategies of business the goal and objective should be concise and clear. Below is the list of distant or dissimilar goals or objective that is based on the long-term they are as follows:
- The first goal or objective of the organization name Impulse was to retain the profit as the percentage of Net turnover.
- The second goal or objective of the organization name Impulse was to work over achieving or accomplishments of profit.
- The third goal or objective of the organization name Impulse was to return the total number of assets.
- The fourth goal or objective of the organization name Impulse was working over boosting the motivation or morale of the employees and workers.
Talking about the strategies or techniques that Impulse going to use for the accomplishments of the goals and objective. Below is the list of objectives that Impulse going to use in order to achieve their goal they are as follows:
- The first strategy or technique that the organization Impulse going to use in order to accomplish their objective is work over offering of the price that is comparatively lower than another competitor.
- The second strategy or technique that the organization Impulse going to use in order to accomplish their objective is work providing the sneaker that is of best quality.
- The third strategy or technique that the organization Impulse going to use in order to accomplish their objective is work over making leader in the segment of quality not in quantity.
- The fourth and the last strategy or technique that the organization Impulse going to use in order to accomplish their objective is making leader in the segments of price.
4. Evaluation of the Game
4.1. Personal Perspective
As per this report, it can be said that all the aspects related to the gain in experience and in the business simulation game. It is ability that helps in various types of skills such as enhancing skills related to analytics, solving general problems, helps in decision-making ability, and communication abilities. Reflective practice can be adapted with a positive attitude in terms of learning. The simulation game can help in providing knowledge related to various fields while the project is going on in the team. The major aim of this is to provide a new experience to the people (Vos & L, 2015).
The business game of the Edmundo business simulation helped and developed the critical thinking and technical skills that were required for the challenges in terms of professionalism. The role of the senior management in the project, it is important for them to settle the business by looking and analyzing the targeted market, analyzing the goals of the business, and setting the price according to the targeted market (Vos & L, 2015). It is considered as a difficult job in analyzing the targeted market. Furthermore, it is considered that the company was a loss and was not making much money as the growth of the company. Also, the team management was not up to the mark due to conflict was there in the team. The goals and critical thinking were lacking in the team. There comes the role of the project manager and senior managers to develop critical thinking due to which it would be good for them to take decision that will help the team to make decisions when it is required. With the help of critical thinking and decision-making team would be able to meet the objectives of the organization and current project. The experience of working in this organization was very good, the individual must have the experience of so that he or she would be able to think effectively.
As they have reflected on the basis of their experience that participation and understanding of the role that was assigned to each member of the team is a very important factor in terms of achieving desired objectives and goals of the organization (Darban, et al., 2016). Teamwork plays and important role while working on any project and if the teamwork is effective then it will help in achieving desired goals of the project (Darban, et al., 2016).
They must understand some gaps and voids that is there in the team due to which the team is lacking because if there is effective teamwork and each member of the team is giving their best, it will help them in the success of the project. Also communication plays an important role in an effective conversation. If it is practised well in the organization it will help in the betterment of the organization. On contrary, it can be said that if team is performing good and understanding their responsibility they would be able to achieve goals and objectives in a less period of time. The experience was good as individual must have the experience of so that he or she would be able to think effectively. If there is non-attentive or non-participating nature of the employees would be there then it will affect the whole team in a negative way that they would not be able to achieve their desired goals and objectives, and the result would not be good further (Voskresenskaya, et al., 2020).
It can be said that by reading all the information above that if the quality of the product is good, and it is affordable to the people then it can be said that it will be taken into consideration. It can be noticed that the sales of the product will be poor and will not be up to the mark if the quality of the product will be premium. The simulation games helped them in understanding the targeted market in a better way and how the real-life market actually works. There was a strategy that was used for a better understanding of the market so that there would not be a loss to the company if the price of the product will be less and not high. The price of the product will vary accordingly by considering the targeted audience and competition, as they have said that they were not able to achieve the deed sales at the end of the simulation game (Homburg, et al., 2017).
It can be said that according to the project manager and senior management who have an experience in simulation game, it provided them the real-life opportunities and an understanding the obstacle that can occur during the process. It also helped them in identifying their strengths and weakness while working in the simulation game.
Active Experimentation is a type of experimentation that can be help in providing and developing the new skills for the challenges that can occur in future, below in the following it is discussed for the better understanding.
|Critical and strategic thinking skills
|It will take near up to 4 months
|It can be said that ahe experience that an individual can have in the simulation game will help them in thinking critically and strategically. It will also help them to handle obstacle that can occur in the future (Voskresenskaya, et al., 2020).
|Motivating the employees and the team members
|It will take near up to 1 month months
|It is important for each team member so that they would be able to remain motivated in terms of work, so that the desired objectives and the goals of an organization can be met (Homburg, et al., 2017).
|It will take near up to 6 months
|Communication plays an important role in every asp of life, so it is necessary to have good communication skills so that individual be able to achieve the targeted goals. If the experience eis concerned then it can be said that it is very good for the learning purpose as individual can learn a lot more and in a different way.
4.1.6. Action plan
If there is any similar situation comes in future then with the help of past experience form this organization would be able to handle it very well and in a appropriate way. It will also help the people and the individual in identifying their strengths and weakness if they have already have a work experience in organization, as he or she will have confidence to handle the situations. This will also help them in understanding the targeted market in a better way and how the real-life
4.2. Value of Simulation Game
It can be said that after reading the above report that design is the major thing that is required in the simulation game process. Also development and implementation plays an important role in the simulation business process. If there is good work environment then it will boost the confidence of the workers and the team members, as they would be able to enhance their creativity and, performance, and motivation. It is important for the team members to develop critical thinking due to which it would be good for them to take decisions that will help the team to make decisions when it is required. With the help of critical thinking and decision-making team would be able to meet the objectives of the organization and current project. Also, it can be said that business simulation is been in there in the market for more than 60 years. Simulation is the type of strategy that can be used to enhance and build new skills in the individual so that they would be able to enhance their critical thinking and creativity. This is the process that helps each team member to enhance their skills and creative thinking. The goal of the simulation is to enhance the work environment. If there is good work environment then it will boost the confidence of the workers and the team members, as they would be able to enhance their creativity and, performance, and motivation. It can be said that if the team is performing good and understanding their responsibility they would be able to achieve goals and objectives in a less period of time.
If the major goal of the business games or simulation is considered then it can be said that it is to improve the business skills and to improve the participation of the team members. It will help the team member in enhancing their decision-making and problem-solving abilities. There are three basic needs that are considered for the motivation, and they are discussed below in following.
In the simulation that is provided by the Edmundo, it can be said that it is important to have the motivation in colleagues in the environment of the business. So that it would be easy for the business in developing new market strategies and countering the current market situations. The decision-making skill will help in the management of the professional environment. Where on the other autonomy will help in the critical thinking process, where it can be said that critical thinking is required in the business simulation for better understanding and enhanced results or outcomes. It helps in decision-making where it helps to think beyond the theoretical framework. As it can be said later relatedness plays a vital role in the tasks that are performed by the group. The sense of the feeling and belonging helps in engaging with the work as the better participation. The simulation game helped all the team members and taught them that how to be a better part of the group and what is the value of the teamwork. There are various types of challenges that are faced by the team members however every challenge was taken and handled with a positive attitude and each team member helped each other I order to accomplish the given task. It is important for the team members to develop critical thinking due to which it would be good for them to take decisions that will help the team to make decisions when it is required. With the help of critical thinking and decision-making team would be able to meet the objectives of the organization and the current project.
The extrinsic motivation is the type of motivation that generally consists of three major factors, for the successful accomplishments it can be said that targets must be achieved and advantages must be considered in gaining the market share for the stimulation market. Sometimes it is difficult to work as team, however challenges that occur in the team can be handled in a better way for the success of the given project
Talking about the paper that will go to investigate the model of business of Impulse sneakers. In this report, they have learned the distant or dissimilar kind that is the related sneaker. They also learnt and understand the stimulations, techniques and strategies that work around the environment of business or organization. In this report, they learnt the plan of marketing that Impulse is going to use to fight against the distant or dissimilar competitors that exist in the sneaker market. They understand the entire process or procedure of analysis of marketing. They appreciate the procedure or technique of analysis of marketing that will be going to help understand the market. They also recognize the size of the market that will go to be targeted by the Impulse. They documented the analysis of the competitor that will provide assistance to understand the different-different competitor of sneakers. Later in the report, they also see and learn the segmentation, targeting and positioning of Impulse in the current or existing market. They similarly learnt the marketing mix that will go to understand the Ps of marketing that will play a very essential and crucial role in the growing market of Impulse. Later in the report, they also learnt the distant or dissimilar objectives or the goals of the Impulse that will go to guide the organization. Future or later in the report, they also learnt the evaluation game that will go to help or provide assistance in learning the personal perspective of the organization name Impulse. Far along in the report, they also see the experience of the concrete. Later they also performed both abstract conceptualization and reflective observation to get a deep understanding of the game. Last but not the least in the report they have learnt the values of the simulation game.
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