Saturday, August 31, 2013

Execution of plan

The execution of the marketing plan went well for the first few periods.  This was mainly because the simulation conditions matched the conditions that were assumed in the plan.  As the simulation progressed the industry growth went negative and inflation went high than low.  All of these changes lead us to be off target with our predications.  The basic strategy appeared to be working at first.  We stuck to the focus markets of our plan and the marketing mix.  We launched the brand extension and it grew as expected.  I would think that in the real world, each year I more detailed review of the performance to forecast would have to be done.  You would not change markets in each case but you would at a minimum adjust forecasts.  I was interesting to see how the product behavior followed the predications at first.

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