At the beginning of the Markstrat simulation, we were given two items, SOFT and SOLO, in the Sonite market. The physical characteristics of the two items were already fixed. The task for us was to manage the two products in the Sonite market and come up with a marketing strategy that would help us to expand the market share and maximize the profits. The two items were different from each other based on weight, design, volume, frequency, and power. The cost of SOLO was higher than SOFT. The total market share for both brands were 28 percent in period 0.In general, our company was out of budget and almost loss all the market share at the end. There are lots of major reasons: we were underproduce at the beginning, captured the wrong coomer segments, used less budget for R&D, started the new product late etc..
The report should include:
1. main strategies pursued 2. key points gleaned from successs and failure during the simulation. 3. recommendation for the future. Please type the answer at least 400 words.