Simulation 101

I played the simulation to completion twice this week.   Here is what I learned.

1. It is easier to run a brand into the ground than it is to keep it growing

2. Watch the projected inflation rate to ensure that you don’t fall behind on pricing.  Most of the time a price increase was in order.

3. I got to launch two new products during the second run.  I also got to reformulate.   When using the special options, look at the symptoms report to know what the market wants.

4. Keep checking market share to ensure you are comparing to the right competitor in advertising.

5. Don’t ignore the market summary, if you do your profit margin and share price will suffer.

6. Check out the graphs, I was able to get the new product into the cash cow category and cut most of the advertising and promotion expense.

7.  The hardest part is to figure out which reports are the important ones to look at.  At different times different reports had the information needed.  Each period required a different set of decisions.  You cannot just let it ride.